Costs Vary From State to State
If you want to buy a new car today, the average price comes to around $47,401. But there are several other costs to consider here, and they can vary depending on the state you're living in. So that begs the question — which states are the most expensive in that regard? And which are the cheapest? Well, we're about to find out right now, folks! The following calculations were made with a 20 percent down payment in mind.
Most Expensive: California
Owning a car in California doesn't come cheap, folks. Annual gas costs alone come to $3,529! As for the sales tax, that amounts to $3,437 if the vehicle is indeed worth $47,401. So what does the total cost look like after 12 months? Well, at $27,292, it's the most expensive spot in the country.
Least Expensive: New Hampshire
Here's the thing about sales tax in America — not every state collects it. And that can make a heck of a difference if you've just bought a new car! So that brings us to New Hampshire. With no sales tax to pay and lower expenses elsewhere, the total cost of owning a vehicle for a year comes to $21,753.
Most Expensive: Nevada
Looking to buy a new car in Nevada? Well, you better have deep pockets! The sales tax on a $47,401 motor amounts to $3,911. That's significantly higher than California's figure. But the overall cost for a year of ownership is slightly lower. Yes, it comes to $27,092.
Least Expensive: Alaska
Another state that doesn't collect sales tax, Alaska is a very forgiving spot for car owners. The annual gas costs are $2,630, while the average insurance premium amounts to $1,359. In total, you'd be looking at an outlay of $22,172 by the end of the year. Not bad, right?
Most Expensive: Florida
When it comes to owning a car in the Sunshine State, sunny smiles are hard to come by! It can get very expensive. To give you an example, at $2,560, the average insurance premiums are the highest in the country. Overall, the total costs after a year reach $26,008.
Least Expensive: Oregon
No sales tax? Check. A low average car insurance premium? Check. Respectable repair costs? You bet! Yep, Oregon is one of the cheapest places to own a vehicle. In total, a year of ownership will set you back by $22,246. Would you be happy with that, folks?
Most Expensive: Illinois
To say that it's pricey to own a car in Illinois would be a major understatement. The sales tax for a $47,401 vehicle comes to $3,437, while the annual gas costs reach $2,726. Oof! After 12 months on your driveway, the total outlay will hit $25,916.
Least Expensive: Montana
With no sales tax to pay and decent insurance premiums, Montana is a great spot for folks who've just bought a car. The average repair bills are nice and low, too! But what's the total cost at the end of the year? Well, it comes to $22,282.
Most Expensive: Washington
If you've just bought a car in Washington state, one thing will soon become very clear — the annual gas costs are crazy! At $3,015, they're the second-highest in the country, only behind California. As for your total expenditure after a year of ownership, that comes to $25,655.
Least Expensive: Delaware
Another state where sales tax isn't an issue, Delaware is very friendly towards vehicle owners. The annual gas costs are some of the lowest in the country at $2,354. By the end of the year, you're looking at a total outlay of $22,678. That's a pretty decent number, right?
Most Expensive: Michigan
Compared to some of the pricier states on this list, the sales tax in Michigan is quite low. The figure for a $47,401 car comes to $2,844. But don't celebrate just yet, folks. The total cost after a year of ownership might not be as palatable! It reaches $25,637.
Least Expensive: Alabama
Do you want to know how cheap the sales tax is for a $47,401 car in Alabama? It's only $948. Trust us, that's not a typo! Meanwhile, the average insurance premiums are welcomely-priced as well. Overall, the total costs after a year of ownership will hit $22,918.
Most Expensive: Rhode Island
Rhode Island is a bit of a mixed bag for those who've just bought a vehicle. While the annual gas costs aren't too high, the sales tax reaches $3,318. That's pretty pricey! By the end of the year, you're looking at a total cost of $25,636.
Least Expensive: North Carolina
Is North Carolina a good spot for car owners and their bank accounts? We'd say so! The sales tax isn't too steep at $1,422, while the average insurance premium comes to a cool $1,368. As for the total cost at the end of the year, that reaches $23,305.
Most Expensive: New Jersey
Another state where the sales tax for a $47,401 motor crosses the $3,000 mark, New Jersey isn't a cheap place to own a car. After 12 months, the total costs will reach $25,549. We wouldn't blame anyone for baulking at that number. It's steep!
Least Expensive: Oklahoma
If you're looking to own a vehicle in Oklahoma, we've got some great news — it won't cost you an arm and a leg! The sales tax on a $47,401 car only comes to $1,541, and your annual gas expenditure will reach $2,166. By the end of the year, you're looking at a total cost of $23,679.
Most Expensive: Kansas
How's this for an eye-watering number? At $3,555, Kansas has one of the higest sales tax figures in the country when it comes to averagely-priced cars. The insurance premiums aren't too bad, but they barely soften the blow! In total, a year's ownership will set you back by $25,517.
Least Expensive: Colorado
Do you have to pay through the nose to own a car in Colorado at the moment? Certainly not! The sales tax, annual gas costs, insurance premiums, and repair costs are all respectable in the Centennial State. Your total expenditure after a year will be in the region of $23,711.
Most Expensive: Kentucky
Compared to the likes of Nevada and California, the sales tax in Kentucky is much more forgiving. It comes to $2,844 for a $47,401 car. Don't cheer too loudly, though — there are other costs to contend with. And it all adds up! Overall, the total cost of owning a vehicle for a year amounts to $25,387.
Least Expensive: Virginia
At $1,321, the average insurance premium in Virginia is extremely low. Repair costs don't break the bank, either. So what does the total cost look like after a year of ownership in Old Dominion? Well, it comes to $23,838. Nice!
Most Expensive: Connecticut
A hefty sales tax? Check. High repair costs? Check. Steep annual gas costs? Unfortunately! Yep, it's not cheap to own a car in Connecticut, folks. You need deep pockets. After 12 months, you're looking at an outlay of $25,367. Would you be able to afford that?
Least Expensive: New Mexico
Compared to a lot of other states, New Mexico isn't a bad spot for car owners. At $1,896, the sales tax on a $47,401 vehicle is pretty decent. Meanwhile, the average insurance premium is respectable as well at $1,505. By the end of the year, the total cost amounts to $23,853.
Most Expensive: Georgia
Georgia does have a couple of things in its favor if you're looking to buy a car. The average insurance premium and annual gas costs are a bit lower than other states. But the sales tax is a real kick in the teeth. It comes to $3,128! Overall, the total cost amounts to $25,309 after a year.
Least Expensive: South Dakota
Interested in buying a car in South Dakota? You should go for it — it won't break the bank! The sales tax isn't too bad at $1,896, while the annual gas costs are a manageable $2,247. After a year of ownership, the total cost comes to $23,897.
Most Expensive: Utah
While the average car insurance premium in Utah is decent at $1,469, the same can't be said about the sales tax. It's really high! You're looking at $3,247 on a $47,401 vehicle. After a 12 month period, the total cost amounts to $25,261.
Least Expensive: Iowa
If you're eyeing up a new vehicle in Iowa, know this — the figures aren't too over the top. The annual repair costs and average insurance premiums are quite low. The sales tax is a little higher, though. In total, a year's ownership will cost you $24,106.
Most Expensive: Indiana
If you thought the sales tax was high in Georgia and Utah, wait until you get a load of this! It comes to $3,318 in Indiana. Oof. The average insurance premium and annual repair costs do soften the blow a bit — but not by much! The total cost after a year comes to $25,218.
Least Expensive: Maine
Owning a car in Maine comes with its ups and downs. The average insurance premium is really cheap at $1,116. But the sales tax? That's a different story! It sits at $2,607. Overall, you're looking at a total cost of $24,218 by the end of the year.
Most Expensive: Texas
Unlike a lot of the pricier states to own a car, Texas' sales tax doesn't exceed $3,000. Instead, it comes to $2,963 for a $47,401 motor. The annual gas costs aren't too steep, either. In total, your expenditure by the end of the year should amount to $25,171.
Least Expensive: North Dakota
Compared to Maine, North Dakota has a much lower sales tax. It amounts to $2,370. The annual gas costs are slightly cheaper as well. But the total cost of owning a car for a year is higher in the Peace Garden State. It amounts to $24,222.
Most Expensive: Maryland
Similar to Texas, Maryland's sales tax doesn't exceed $3,000, either. It's actually cheaper than the Lone Star State, too! It amounts to $2,844. But the annual gas costs are a touch higher. Overall, the total cost of owning a car for a year comes to $25,115.
Least Expensive: Mississippi
Owning a car in Mississippi is much cheaper than some of the more expensive states. It has the exact same sales tax figure as North Dakota at $2,370. But what does the total cost look like at the end of the year? Well, it comes to $24,284.
Most Expensive: Tennessee
After looking at the lower sales tax numbers for Texas and Maryland, Tennessee is far more expensive. It comes to $3,318 for a $47,401 car. Oof! Mind you, some of the other costs aren't so bad. Thanks to that, you're staring at a total of $25,084 by the end of the year.
Least Expensive: Ohio
At $1,023, the average car insurance premium in Ohio is super cheap. The average repair costs are also digestible! But the sales tax is a little higher than you might expect at $2,726. At the end of a 12 month period, the total cost comes to $24,376.
Most Expensive: Minnesota
While it certainly isn't cheap to own a car in Minnesota, the numbers do compare favorably to the more pricey states. For instance, the average insurance premium is easier to swallow. Overall, you're looking at a total cost of $25,056 by the end of the year.
Least Expensive: Wisconsin
Feeling anxious about buying a car in Wisconsin? Don't! It's one of the cheaper spots in America. The sales tax is $2,370, while the annual gas costs come to $2,380. After 12 months of ownership, the total cost amounts to $24,406.
Most Expensive: Nebraska
Only seven other states in America have a higher average car insurance premium than Nebraska. It comes to a whopping $2,018! The $2,607 sales tax barely softens the blow. So what does the total cost look like following a year of ownership? Well, it amounts to $25,051.
Least Expensive: Missouri
Although it's on the higher-end of the cheaper state standings, don't be put off owning a car in Missouri. The sales tax is a cool $2,005, and the annual gas costs amount to $2,207. By year's end, the total cost comes to $24,491.
Most Expensive: Pennsylvania
Do you need a healthy bank balance to own a car in Pennsylvania? We'd say so! The sales tax for a $47,401 motor comes to $2,844. Meanwhile, the annual gas costs are $2,579. Only a few states can top that. Overall, the total cost after 12 months reaches $25,049.
Least Expensive: Idaho
Idaho isn't the worst place for car owners, folks. The average insurance premium is really low at $1,121, while repair costs are a respectable $389. But what does the total cost come to after a year of ownership? Well, it reaches $24,508.
Through: Florida Department of Transportation