So often, car buyers are shopping for a payment. However, they often forget that the monthly outlay for a vehicle is so much more than paying on the note: insurance, gas, maintenance all add up in a hurry, and where you live can double some of those numbers, according to a new study.
The most expensive place and the cheapest place to own a car are pretty surprising: Wyoming and Hawaii. Wyoming topped insurance.com’s list of priciest places to own a vehicle. Why so high? It has the highest average gas cost and to go anywhere in Wyoming requires quite a bit more driving than other states.
Residents of the Equality State spend more time behind the wheel and pay more for gas and maintenance, the website noted. In determining what places were the most and least expensive, it factored in five expenses: gas, insurance, maintenance, registration and sales tax over a five-year period. (more…)