Cars may seem like a fixed price once you drive it off the car lot, but there are plenty of other expenses once you hit the road that can really add up — and those costs can vary wildly depending on where you live.
According to a recent study by Forbes, which tallied gas prices, repair costs, insurance rates, and monthly loan payments for all 50 states, the most expensive states to own and operate a car proved to be a two-way tie between California and Nevada. California had the highest gas prices in the nation, while Nevada had the highest full-coverage car insurance. The cheapest state? Ohio, which scored an average of $1,112 for full coverage car insurance (versus $3,342 in Nevada).
After California and Nevada, the most expensive states were Colorado, Florida, Alaska, Maryland, Georgia, New Mexico, Louisiana, and a three-way tie in 10th place between Washington, Texas, and Wyoming.
If you're more interested in which states are cheapest (who can blame you?), Ohio is followed by Iowa, Wisconsin, Maine, and New Hampshire.
Gallery: Car Expenses That Are Really Worth the Money
Whichever state you live in, here are a few tips to help trim expenses:
- Choose a reliable car and be sure to get regular maintenance so your investment lasts.
- Sign up for gas station rewards and look for bargains on filling up in your area.
- Find out which maintenance tasks you can do yourself to save money.
- Research which car insurance discounts might be right for you.
- If you have a Costco membership, the club warehouse offers cheap gas as well as discounts on parts, and even a car-buying service.
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