If you live in California and have noticed that owning a car can be expensive, you’re not alone. According to a recent study by Forbes Advisor, California is one of the top two most expensive states to own and maintain a car, along with Nevada.
The study used data from AAA and found that the average California car owner spends almost $900 a month on car-related expenses, including car payments, fuel, maintenance, repairs, and insurance. That’s a whopping $10,728 per year.
Nevada, meanwhile, has the third-highest gas prices in the nation, and car owners in the Silver State pay about $900 more a year for car insurance than in any other state.
In fact, owning a car on the West Coast in general can be quite costly. Other West Coast states like Alaska and Washington also make the top ten most expensive states for car ownership.
So, which states offer the least expensive car ownership costs? Six of the top ten states are located in the Midwest, including Ohio, Iowa, and Kansas.
If you’re looking to trim down your car-related expenses, there are some things you can do. For example, reducing your gas usage, shopping around for the best insurance rates, and staying on top of your car maintenance can all help.
In the end, owning a car is a necessary expense for many people. But it’s good to know which states are the most and least expensive, so you can make informed decisions about your finances.