There are many costs involved in owning a vehicle, such as depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, and repairs. Research has been done to calculate the difference in those costs over a five-year period on a State by State basis. The difference can be as much as $10,000. South Dakota, New Hampshire, and Wisconsin are the least expensive States in terms of vehicle ownership, while Hawaii, Alaska, and California are the most expensive.
Total Cost to Own a Vehicle over a Five-Year Period*
* Based on a 2011 Toyota Camry 4-door sedan on August 3, 2011. Different vehicle models will have different costs.
Supporting Information
State | Depreciation | Taxes & Fees | Financing | Fuel | Insurance | Maintenance | Repairs | True Cost to Own |
---|---|---|---|---|---|---|---|---|
Alabama | $11,860 | $3,082 | $3,403 | $9,252 | $7,754 | $2,977 | $665 | $38,993 |
Alaska | $12,666 | $489 | $2,856 | $11,365 | $12,135 | $3,137 | $744 | $43,392 |
Arizona | $11,922 | $3,150 | $3,325 | $9,405 | $8,167 | $3,198 | $732 | $39,899 |
Arkansas | $10,853 | $1,821 | $3,107 | $9,222 | $8,687 | $3,035 | $683 | $37,408 |
California | $11,842 | $2,355 | $3,371 | $10,660 | $10,500 | $3,324 | $773 | $42,825 |
Colorado | $12,072 | $2,560 | $3,217 | $9,222 | $6,843 | $3,204 | $744 | $37,862 |
Connecticut | $11,927 | $1,629 | $2,989 | $10,263 | $10,833 | $3,151 | $726 | $41,518 |
Delaware | $11,927 | $708 | $2,731 | $9,557 | $10,693 | $2,889 | $671 | $39,176 |
Florida | $11,860 | $1,753 | $3,366 | $9,650 | $8,977 | $2,960 | $665 | $39,231 |
Georgia | $11,860 | $2,251 | $2,651 | $9,344 | $5,610 | $2,850 | $631 | $35,197 |
Hawaii | $12,666 | $1,468 | $3,172 | $11,579 | $11,299 | $2,868 | $648 | $43,700 |
Idaho | $12,072 | $1,723 | $3,096 | $9,650 | $6,055 | $2,836 | $631 | $36,063 |
Illinois | $10,969 | $1,973 | $2,739 | $10,109 | $7,326 | $2,868 | $637 | $36,621 |
Indiana | $10,969 | $2,196 | $2,655 | $9,679 | $6,187 | $2,985 | $671 | $35,342 |
Iowa | $10,969 | $2,626 | $2,903 | $9,557 | $5,363 | $3,002 | $677 | $35,097 |
Kansas | $10,853 | $2,882 | $2,758 | $9,405 | $6,182 | $2,763 | $601 | $35,444 |
Kentucky | $11,853 | $1,370 | $2,753 | $9,527 | $7,352 | $2,970 | $671 | $36,496 |
Louisiana | $10,860 | $1,835 | $2,622 | $9,252 | $11,561 | $2,847 | $625 | $39,602 |
Maine | $11,927 | $2,649 | $2,991 | $9,834 | $7,497 | $2,645 | $577 | $38,120 |
Maryland | $11,927 | $1,544 | $3,097 | $9,588 | $10,231 | $3,375 | $797 | $40,559 |
Massachusetts | $11,927 | $2,565 | $2,735 | $9,650 | $5,551 | $2,604 | $560 | $35,592 |
Michigan | $11,969 | $1,825 | $2,785 | $9,864 | $7,674 | $3,009 | $683 | $37,809 |
Minnesota | $10,969 | $2,202 | $2,399 | $9,650 | $6,248 | $3,024 | $683 | $35,175 |
Mississippi | $10,860 | $1,665 | $2,770 | $9,190 | $7,260 | $2,636 | $565 | $34,946 |
Missouri | $10,853 | $1,650 | $2,699 | $9,099 | $7,449 | $2,864 | $637 | $35,251 |
Montana | $12,072 | $1,841 | $2,626 | $9,557 | $8,221 | $2,695 | $612 | $37,624 |
Nebraska | $10,853 | $1,498 | $3,127 | $9,803 | $6,688 | $2,928 | $659 | $35,556 |
Nevada | $11,922 | $2,873 | $3,244 | $9,925 | $9,610 | $3,223 | $744 | $41,541 |
New Hampshire | $11,927 | $220 | $2,369 | $9,527 | $5,921 | $2,559 | $571 | $33,094 |
New Jersey | $11,927 | $1,746 | $2,947 | $9,313 | $10,248 | $2,557 | $543 | $39,281 |
New Mexico | $11,922 | $1,673 | $3,145 | $9,466 | $6,086 | $3,122 | $715 | $36,129 |
New York | $11,942 | $1,992 | $2,672 | $10,293 | $9,443 | $2,826 | $618 | $39,786 |
North Carolina | $11,639 | $1,588 | $2,949 | $9,466 | $7,042 | $2,905 | $648 | $36,237 |
North Dakota | $11,072 | $1,576 | $2,373 | $9,834 | $5,732 | $2,730 | $601 | $33,918 |
Ohio | $11,969 | $1,684 | $2,952 | $9,619 | $6,317 | $2,848 | $631 | $36,020 |
Oklahoma | $10,853 | $2,049 | $2,811 | $9,252 | $7,921 | $2,937 | $654 | $36,477 |
Oregon | $11,842 | $129 | $2,854 | $10,048 | $7,121 | $2,908 | $677 | $35,579 |
Pennsylvania | $11,927 | $1,516 | $3,170 | $9,742 | $8,580 | $2,797 | $618 | $38,350 |
Rhode Island | $11,927 | $1,714 | $2,777 | $9,864 | $9,776 | $2,850 | $631 | $39,539 |
South Carolina | $11,860 | $377 | $2,534 | $9,099 | $7,700 | $2,715 | $589 | $34,874 |
South Dakota | $11,072 | $1,325 | $2,426 | $9,679 | $4,815 | $2,823 | $631 | $32,771 |
Tennessee | $11,853 | $2,348 | $3,002 | $9,190 | $7,244 | $2,825 | $612 | $37,074 |
Texas | $10,922 | $1,854 | $3,092 | $9,222 | $7,159 | $2,991 | $671 | $35,911 |
Utah | $12,072 | $2,243 | $3,247 | $9,466 | $5,978 | $2,784 | $612 | $36,402 |
Vermont | $11,927 | $1,525 | $2,775 | $9,803 | $6,816 | $2,660 | $577 | $36,083 |
Virginia | $11,639 | $1,208 | $2,838 | $9,313 | $7,873 | $3,186 | $744 | $36,801 |
Washington | $11,842 | $2,059 | $3,313 | $10,263 | $8,344 | $2,771 | $601 | $39,193 |
West Virginia | $11,639 | $1,426 | $2,365 | $9,896 | $11,615 | $2,970 | $671 | $40,582 |
Wisconsin | $10,969 | $1,427 | $2,424 | $9,742 | $5,249 | $3,156 | $732 | $33,699 |
Wyoming | $12,072 | $2,540 | $3,138 | $9,222 | $7,444 | $2,826 | $631 | $37,873 |
* Based on a 2011 Toyota Camry 4-door sedan on August 3, 2011. Different vehicle models will have different costs. |