The Cheapest State to Own A Car - New Hampshire - Granite Grok

The Cheapest State to Own A Car – New Hampshire

Cheapest states to own a car
Cheapest states to own a car – GoBankingRates.com (click to enlarge)

A GoBankingRates.com survey (fixed link) awarded New Hampshire the honor of being the cheapest state in the nation to own a car. This cost of ownership is based on expenses in the first three years after you buy so no, the purchase-price is not part of the calculus. But according to GoBankingRates.com, U.S. car owners will pay an additional $11,227 on average to buy and own a car for three years on taxes, title and other point-of-purchase fees, registration fees, gas, car insurance, and other maintenance costs.

In New Hampshire the average cost was over three-thousand-dollars less.

New Hampshire’s average annual cost of ownership w, according to the report, was only $8,098 dollars over the first three years, or just under $2,700.00/year. Compare that to the national average at $3,742.00 or Michigan (the most expensive) at over $5,100.00 per year in the first three years.

The most startling factoid, after I blindly accepted that New Hampshire could be the cheapest state in which to own a car, was the estimated average purchase-price for a new vehicle. According the article U.S. residents pay the average transaction price of $33,543 (according to Kelley Blue Book).

Wow.

Thank you Federal Government. I know this is almost entirely your fault.

Forbes has an article about this report and was kind enough to sift the top ten (best and worst) into these easily digestible lists.

10 Most Expensive States To Own A Car

  1. Michigan: $15,314 over three years
  2. California: $14,451
  3. District of Columbia: $13,561
  4. New Jersey: $13,484
  5. Florida: $13,211
  6. Maryland: $12,926
  7. Rhode Island: $12,596
  8. Montana: $12,764
  9. Nevada: $12,696
  10. Washington: $12,613

10 Cheapest States To Own A Car

  1. New Hampshire: $8,098 over three years
  2. Missouri: $9,280
  3. North Carolina: $9,448
  4. Wisconsin: $9,571
  5. Ohio: $9,595
  6. Virginia: $9,603
  7. Oregon: $9,696
  8. Alaska: $9,814
  9. Maine: $9,866
  10. New Mexico: $9,923

Here is a table for all 50 states. You can get a better look at table and the entire report at GoBankingRates.com

Cheapest states to own a car table
Click for a clearer view
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