HOURS MAP

Car Ownership Costs: A State-by-State Comparison

Annual Car ownership CostsA new study of car ownership by researchers at Bankrate.com found that it’s cheaper to own a car in Minnesota than the national average, but just barely.

The study found that Minnesota ranked 21st in terms of annual cost of ownership, coming in just $38 south of Indiana, the 25th ranked state. To determine the total cost of annual ownership, researchers looked at three key factors:

  • Repairs
  • Insurance
  • Gasoline

Researchers found the average cost of each of those expenses to come up with a grand total. Minnesota ranked 18th for cheapest average auto repair, 16th for average insurance costs, and 36th for average gasoline expenditures. On average, Minnesotans spent $346 annually on repair costs, $782 on car insurance, and $1,033 on gasoline for a total of $2,162 a year.

The cheapest state for car ownership was Iowa, which boasts an annual ownership cost of $1,942. The most expensive state for car ownership was Wyoming. Residents in Wyoming spent an average of $2,705 a year on their car.

The Best and Worst for Car Ownership

As noted above, Iowa and Wyoming rank as the cheapest and most expensive states for car ownership. After Iowa, a slew of Midwest states dominate the Top 5 cheapest states for car ownership. Ohio comes in at second, followed by Illinois. Idaho and Wisconsin.

On the other side of the spectrum, it appears that it’s more costly to own a car in the southeast. After Wyoming, Louisiana slips in as the second most expensive state for car ownership, followed closely by Florida, Mississippi and New Jersey.

In all, the average Iowan spends $763 less each year in auto-related expenses than someone from Wyoming.

For more information on how each state scored in all three categories, head over to Bankrate.com to see the expanded findings.

Related source: Bankrate.com


  • Should Car Repair Shops Root For Visiting NFL Teams?
    Feb 18, 2015

    Although the NFL season is behind us, new data suggests that auto body shops may want to root for visiting teams next year, as it could boost business. According to data from the Highway Loss Data Institute, auto repair shops see an uptick in calls in the days after a home NFL team loses. The […]

  • 5 Common Reasons Your Car Won’t Start
    Jul 18, 2013

    You rely on your car for a lot of things, like shuttling the kids to soccer practice or for getting to work on time, so it’s easy to see why problems can arise if your car refuses to start. There are literally hundreds of reasons why your car won’t start, but some are more common […]

  • Why Isn’t My Car’s Air Conditioning Working?
    Apr 16, 2014

    Spring is here, and if you’re like us, you’ve already taken a drive with the windows down at least once. Temperatures are only going to rise, and soon enough you’ll be turning that dial on your dashboard from heat to cool air to AC. Air conditioning is a nice luxury that most people don’t give […]