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Tuesday, August 12, 2014

Study: Cowboy State most expensive to own a car - USA TODAY

Wyoming may be home to cowboys, the Devils Tower National Monument and great fishing, but the Cowboy State also is the most expensive state in which to own a car, says a new study by Bankrate.com.

Iowa, home to corn and soybeans, is the cheapest based on the annual cost of gas, insurance and repairs in the Hawkeye State, according to the site, which tracks interest rates.

The national average annual cost of owning a car for the 50 states and Washington, D.C., is $2,223, Bankrate.com says.

Driving a car in Wyoming costs an average of $2,705 a year, but the number is skewed by the fact that the state's residents drive so much in the wide-open spaces that the amount of gasoline they are using, and thus the cost, is much higher. But gas is also expensive there -- the annual cost is $600 more than in neighboring Idaho

Wyoming is followed in the most expensive averages by Louisiana, Florida, Mississippi and New Jersey

In Iowa, the average cost of operating a car is only $1,942, helped along by having some of the nation's lowest insurance costs. And getting your car fixed in Iowa is relatively cheap as well, averaging just $315 a year.

For cheapest, it is followed by Ohio, Illinois, Idaho and Wisconsin.

Here's the list, from cheapest to most expensive in estimated total annual cost:

State, repairs, insurance, gasoline -- total

  1. Iowa, $315 $630 $998 -- $1,942
  2. Ohio, $328 $698 $947 -- $1,973
  3. Illinois, $343 $805 $852 -- $1,999
  4. Idaho, $349 $664 $988 -- $2,001
  5. Wisconsin, $329 $658 $1,031 -- $2,018
  6. South Dakota, $312 $654 $1,056 -- $2,022
  7. Pennsylvania, $364 $908 $781 -- $2,052
  8. New Hampshire, $328 $767 $975 -- $2,070
  9. Nebraska, $347 $709 $1,025 -- $2,081
  10. Oregon, $380 $807 $893 -- $2,081
  11. Utah, $371 $810 $918 -- $2,098
  12. Virginia, $382 $758 $964 -- $2,104
  13. Kansas, $352 $764 $991 -- $2,108
  14. Maine, $328 $682 $1,109 -- $2,119
  15. Colorado, $385 $848 $890 -- $2,123
  16. North Carolina, $390 $708 $1,032 -- $2,129
  17. Tennessee, $353 $762 $1,021 -- $2,136
  18. Hawaii, $370 $906 $869 -- $2,145
  19. Alaska, $341 $1,077 $730 -- $2,147
  20. Washington, $375 $910 $866 -- $2,151
  21. Minnesota, $346 $782 $1,033 -- $2,162
  22. Massachusetts, $358 $984 $827 -- $2,169
  23. Vermont, $270 $730 $1,178 -- $2,177
  24. South Carolina, $368 $860 $958 -- $2,186
  25. Indiana, $329 $709 $1,162 -- $2,200
  26. Arizona, $362 $963 $888 -- $2,213
  27. North Dakota, $344 $662 $1,207 -- $2,213
  28. Nevada, $364 $1,078 $771 -- $2,214
  29. Texas, $364 $1,001 $860 -- $2,226
  30. Arkansas, $361 $813 $1,055 -- $2,229
  31. Missouri, $353 $780 $1,099 -- $2,232
  32. California, $390 $906 $940 -- $2,237
  33. Montana, $360 $822 $1,067 -- $2,250
  34. New York, $365 $1,196 $713 -- $2,273
  35. Washington, D.C., $392 $1,273 $618 -- $2,283
  36. Kentucky, $367 $848 $1,073 -- $2,288
  37. Rhode Island, $371 $1,142 $800 -- $2,314
  38. West Virginia, $310 $975 $1,033 -- $2,318
  39. Oklahoma, $338 $839 $1,175 -- $2,352
  40. Maryland, $388 $1,030 $951 -- $2,368
  41. New Mexico, $345 $895 $1,131 -- $2,371
  42. Connecticut, $385 $1,058 $929 -- $2,372
  43. Michigan, $317 $1,064 $994 -- $2,375
  44. Alabama, $352 $793 $1,237 -- $2,381
  45. Delaware, $314 $1,110 $967 -- $2,391
  46. Georgia, $385 $927 $1,096 -- $2,408
  47. New Jersey, $393 $1,244 $783 -- $2,421
  48. Mississippi, $356 $901 $1,231 -- $2,487
  49. Florida, $377 $1,124 $1,015 -- $2,516
  50. Louisiana, $354 $1,277 $924 -- $2,555
  51. Wyoming, $324 $792 $1,588 -- $2,705

(Bankrate ranked all 50 states and D.C. on repairs, insurance and gasoline. Labor and parts data were provided by CarMD.com's analysis of more than 160,000 repairs in the U.S. in 2012. Gas spending was calculated with 2013 average pump prices from GasBuddy.com and the Bureau of Transportation Statistics on fuel efficiency (in 2012) and average vehicle miles traveled (in 2010). Insurance costs were compiled with National Association of Insurance Commissioners statistics from 2007 to 2011.)

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Source : http://www.usatoday.com/story/money/cars/2014/08/11/driving-costs-bankrate-wyoming-iowa/13900689/

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