Study Finds the Best States to Own a Car

Owning a car is an expensive proposition. But the cost isn’t the same everywhere. It’s easiest to afford in Vermont, according to a new study. Nevada residents have it worst.

The study comes from National Business Capital, a business loan service. Researchers there compared seven expenses of car ownership across 50 states to calculate the costliest and least costly places to drive.

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Factors included dealer document fees, sales taxes, registration fees, personal property taxes, insurance costs, gas prices, and the average used car price in each state. They converted costs into a score on a 100-point scale, with higher scores indicating lower costs.

The result? “Buying and operating a car in the Northeast and Midwest is often cheaper than in the West,” the researchers write. “States like Vermont and Ohio, with their lower-priced used cars, lack of personal property taxes, and low insurance costs, offer more predictable and generally lower costs than states like Washington or Oregon.”

Related: Study – Car Insurance Prices Will Jump 22% This Year

The southeast tends to have the lowest gas prices. However, states there often charge an annual personal property tax that raises the cost of car ownership.

Car Ownership Costs by State