Costs of Owning a Vehicle by State
September 26, 2011
There are many costs involved in owning a vehicle, such as depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, and repairs. Research has been done to calculate the difference in those costs over a five-year period on a State by State basis. The difference can be as much as $10,000. South Dakota, New Hampshire, and Wisconsin are the least expensive States in terms of vehicle ownership, while Hawaii, Alaska, and California are the most expensive.
Total Cost to Own a Vehicle over a Five-Year Period*
* Based on a 2011 Toyota Camry 4-door sedan on August 3, 2011. Different vehicle models will have different costs.
Source
Edmund's True Cost to Own Pricing System.