Iowa Tops List of 'Cheapest' States for Car Ownership

US_states_Julesinski_iStock_Thinkstock

The Midwest is home to some of the cheapest states in which to own a car, according to Bankrate.com. Wyoming and much of the South, meanwhile, are the priciest. The personal-finance website analyzed average repair, insurance and gasoline costs to rate all 50 states plus the District of Columbia from the cheapest to the most expensive, in terms of annual vehicle-ownership costs.

Related: What Are the Most Common Car-Insurance Discounts?

Iowa took top honors, with an annual driving bill of just $1,942. It's one of three states where annual driving costs total less than $2,000; Ohio ($1,973) and Illinois ($1,999) were the other two. Conversely, Wyoming ran $2,705 per year. Louisiana ($2,555), Florida ($2,516) and Mississippi ($2,487) joined the Cowboy State as the nation's priciest places to own a car. Curiously, fourth-cheapest Idaho ($2,001) was $704 cheaper than its neighbor to the east, but $600 of that was because of Wyoming's sky-high gas prices.

Get the full list below.

Bankrate

Bankrate.com chart
Julesinski/iStock/Thinkstock

By Kelsey Mays | August 11, 2014 | Comments (6)
Tags: Car Buying

Comments 

Joe

Interesting that Illinois came in third. I guess tolls weren't considered!

meh

Seems they also ignored property taxes. I know CT taxes anything you have to register, cars, boats etc.

tbright1965

Odd that IL has lower fuel costs compared to it's neighbors. As a resident of IL living near MO, I know fuel is about $0.25/gallon cheaper in MO.

Those poor saps in Chicagoland pay about $0.50/gallon more than we do downstate.

Folks must not drive much in IL. Weighted average based on mileage in Chicago area?

roehlstation

@meh, the cars are subject to local property taxes, not statewide, so they wouldn't be able to calculate that for this survey.

Meteorite

Virginia has yearly property taxes on vehicles based on it's NADA value. It can run upwards of $500 a year more if it's a luxury vehicle (anything over (30K in Alexandria)

nebman

Did anybody tell them when you buy a vehicle in Nebraska you must pay 7.5% sales tax plus normal fees to register it.

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