No matter where you live, owning a car can be expensive. But, some states are more affordable than others when it comes to car ownership. Is your state in the top five least expensive to own a vehicle?
The Top Five Least Expensive States to Own a Car
These rankings are based on Bankrate’s state-by-state overview of vehicle ownership costs and AAA’s title and registration fees by state based on a car costing $36,113. This includes estimates for insurance, gas, and repair costs and compares them to the national averages ($887 insurance rate, $1,127 gas costs, and $392 repair costs). In addition, each of these states has a handful of dealers we’re teamed up with for helping subprime car buyers, which we listed after "partnered dealers." Here are the top five states:
1. Oregon
- Total cost of ownership per year: $9,685
- Sales tax: None
- Average insurance rate: $819/year
- Average gas costs: $1,077/year
- Average repair costs: $404/year
- Title and registration: $77 title cost per year and $86 registration fee per year (good for two years)
- Partnered dealers: 471 dealers
2. Alaska
- Total cost of ownership per year: $9,726
- Sales tax: None
- Average insurance rate: $1,062/year
- Average gas costs: $917/year
- Average repair costs: $407/year
- Title and registration: $18 title cost per year and $100 registration fee per year
- Partnered dealers: 73 dealers
3. North Dakota
- Total cost of ownership per year: $9,946
- Sales tax: None
- Average insurance rate: $692/year
- Average gas costs: $1,559/year
- Average repair costs: $419/year
- Title and registration: $5 title cost per year and $49 to $274 registration fee per year
- Partnered dealers: 152 dealers
4. New Hampshire
- Total cost of ownership per year: $10,155
- Sales tax: None
- Average insurance rate: $757/year
- Average gas costs: $1,069/year
- Average repair costs: $389/year
- Title and registration: $25 title cost per year and registration fee varies by weight of vehicle per year
- Partnered dealers: 326 dealers
5. Montana
- Total cost of ownership per year: $10,265
- Sales tax: None
- Average insurance rate: $825/year
- Average gas costs: $1,330/year
- Average repair costs: $416/year
- Title and registration: $122 title cost per year and registration fee varies by age of vehicle per year
- Partnered dealers: 239 dealers
Auto Loan Help No Matter Where You Live
If you’re having trouble finding the financing you need because your credit isn’t the best, Auto Credit Express wants to help. We work with a nationwide network of dealers that have the lending resources available to get you the financing you need. Let us guide you toward a local dealer. Get started by filling out our free online auto loan request form today.
