Where it Costs the Most and Least to Own a Car

If you’re looking to save money, head for the Hawkeye State as those living in Iowa currently enjoy the lowest overall auto ownership costs in the nation at an average $1,942 per year. On the other hand, residents of Wyoming pay the most in this regard at an average $2,705, according to a recent analysis compiled by the financial services company Bankrate, New York City. Motorists tend to clock 68 percent more miles behind the wheel in Wyoming than the norm, which results in much higher than average expenditures for fuel. Meanwhile, Iowa residents enjoy both the cheapest insurance rates in the nation and below average repair costs. Louisiana ($2,555), Florida ($2,516), Mississippi ($2,487) and New Jersey ($2,421) round out the five most expensive states in which to own a car, while Ohio ($1,973), Illinois ($1,999), Idaho ($2,001) and Wisconsin ($2,018) compile the rest of the five cheapest states for motorists.