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Car Ownership Most Expensive in Georgia, Cheapest in Oregon

The cost of car ownership can vary greatly from state to state...
August 29, 2013

The cost of car ownership can vary greatly from state to state. For example, a recent report from the personal finance website Bankrate.com shows that residents of Georgia, where the cost of car ownership is the highest in the U.S., pay approximately $2,000 more for driving the same car as residents of Oregon, where the cost is the lowest in the nation. Bankrate considered the cost of gasoline, insurance, repairs, taxes and fees in all states and determined that drivers in Georgia pay $4,233 each year to operate a vehicle, twice the amount spent by drivers in Oregon. The report found that the national average is $3,201.

According to the National Association of Insurance Commissioners (NAIC), the average cost of auto insurance in the U.S. is nearly $800 annually. Michael Barry, vice president of media relations at the Insurance Information Institute (I.I.I.), said that insurance companies consider their customers’ driving records, the number of miles driven and the model of their vehicles to calculate the cost of having to repair their vehicles. Barry said the cost of insurance is generally higher in states with large urban populations, compared to states where suburban and rural areas predominate, because of the higher risk of accidents and cars being stolen or damaged by vandals.

Interactive Map of Car Ownership Costs (CNN Money)

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