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*
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* Based on a 2011 Toyota Camry 4-door sedan on August 3, 2011. Different vehicle models will have different costs.

Supporting Information

Total Cost to Own a Vehicle over a Five-Year Period*
StateDepreciationTaxes & FeesFinancingFuelInsuranceMaintenanceRepairsTrue 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.
Source: Edmund's True Cost to Own Pricing System

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