The Cost of Car Ownership

by Erika Torres
26 comments

costs of having a car, car expenses, car expense tipsAre you in the market for a used or new car? While buying a car can be exciting, not considering the cost of ownership can cause tremendous amounts of stress to both you and your pocketbook.

Wondering how your state stands when it comes to the cost of car ownership? Let’s play a little game. 

Question 1:   Which state is the most expensive in terms of repair costs?
Answer:         New Jersey

Question 2:   Which state has the cheapest car insurance?
Answer:         Iowa

Question 3:   Which state has the cheapest gas prices?
Answer:         South Carolina

So maybe moving to South Carolina for cheaper gas may not be that economical if you live in California. And maybe moving to Iowa for cheaper insurance may not be that enticing when you’re way down in Florida.

Don’t worry; you don’t need to move across the country for better deals. Just take a look at this infographic for more ways to save on your new car.

Infographic by Navy Federal

26 comments

United Auto Care July 22, 2017 - 5:25 am

Thanks for sharing infographics. It will be beneficial for the new car buyer.

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Heather May 11, 2017 - 12:47 pm

Very useful infographic! I’m surprised maintenance & repairs only comprises 4% of car expenses! Maintaining your vehicle certainly costs a lot less than repairing/replacing parts, so that’s great advice to follow. Thanks for sharing!

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performance Strut Rods February 7, 2017 - 10:47 pm

Only the best car pars for you, that will surely make your car more awesome and handsome.

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Brian December 7, 2016 - 11:36 am

I really liked the info graphic included here! It breaks down costs of owning and maintaining a car really well. Thanks for sharing!

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Fleet Services NJ November 1, 2016 - 12:32 am

A well-maintained car has a higher selling value which will help you acquire a better return on your investment if you decide to sell it.

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Superior Transmissions September 29, 2016 - 12:56 am

Nice post! It’s nice to see everything laid out like that with the percentages. Now the problem is deciding to move to Iowa for the lower insurance or South Carolina for the cheaper gas!

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Steve September 1, 2016 - 5:54 am

Thanks for providing the info-graphic alongside your written content. Sometimes I find it hard to hold my attention on lots of text.. And that’s even when I’m reading about something I’m totally passionate about! Ah well… that’s for another day! I think depreciation is the worst part of all of this, which is why I buy all my cars pre-owned and if you don’t like the thought of making that much of an initial payment, why not consider leasing a car? That way you get to own a brand new car every year or two, depending on your car leasing plan!

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Cortney G August 31, 2016 - 3:41 am

Wow!!
What a lovely post. It is extremely important to understand and calculate the cost of car ownership for your respective state. Useful analysis done from your end. Car is an investment and one should take care of it in a judicious manner. I loved the infographic shared by you. It was a great insight for me to know the actual amount of money spent on my car. Thanks for the share.. Keep Sharing and Keep posting.. 🙂
Regards;
Cortney G

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Linda Prin July 14, 2016 - 8:46 am

I like that you list the most expensive/inexpensive auto insurance states on your site and offer visual aides to go along with it for quick reference. I will have to share this site with my car loving brother who is moving to Louisiana. I’m sure he will find this valuable since he is just moving for 3 years and can save himself some dollars in the process. Thanks.

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Silas Knight April 19, 2016 - 1:57 pm

When buying a car or trying to maintain an old one, these tips are really helpful. I love the infographic you have on your article, really informative. If I am ever in New Jersey, I will make sure to wait to have my car repaired.

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Chelsa miller April 8, 2016 - 10:53 pm

Very helpful. While shopping, get quotes from different types of insurance companies. Some sell through their own agents; some sell through independent agents who offer policies from several insurance companies.

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synthetic oil changes Rockaway NJ April 5, 2016 - 8:40 am

There’s a lot about here that is really helpful. Owning a car is not a joke. You should take care of it. It is an investment.

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Jason Unrau March 31, 2016 - 3:07 am

Hello! With my limited economic condition, I pay attention the cost of car very much and I am intending to choose a used car. Do you have any solutions for me?

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Laurie February 2, 2016 - 1:15 pm

It is important to do your research before any major purchase. I love the infographic, thank you for sharing.

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strut rods December 2, 2015 - 6:24 am

Overall, autonomous vehicles could be a major technology to fight against climate change. The technology can even pay for itself: It is probably the only technology which lowers overall costs of mobility, maintaining the infrastructure etc. Policy-makers, take note!

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Veronica Marks November 18, 2015 - 11:40 am

It’s so interesting to learn about the states with the cheapest gas and insurance! I definitely wouldn’t have guessed that. I’m curious now which are the most expensive for those things! I know in Florida the car insurance rates are pretty high, so I would guess that state would be near the top!

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Janelle Winters November 11, 2015 - 4:40 pm

I loved your infographic! it was so great to visualize how much money I actually am spending on my car. It further confirmed to me that I did a wise thing by buying used, but what surprised me was how low the cost of maintenance is, all things considered. I’ve heard of people keeping their cars in great shape for over a decade just through regular maintenance, and after seeing how little it actually is in the grand scheme of things I am going to make it a priority – no matter how expensive it may seem in the moment.

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Jenn November 6, 2015 - 12:12 pm

We have saved a lot on our cars by keeping up with the routine maintenance. My dad is a mechanic, so having him do some of the easy labor has been a great way to save money. It seems like every time we go to his house, he’s asking us our mileage and wanting to check out my tires.

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Jonathan Pound October 6, 2015 - 1:39 pm

I love your info-graphic. I’m a very visual person, and seeing pictures with facts really helps me to remember them. I always try to buy fuel efficient cars, like you mention. It’s a great way to save on the total cost of ownership on a vehicle.

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Veronika Dalton September 30, 2015 - 1:32 pm

I really liked these charts! It makes sense that Wyoming insurance would cost more. You’re not a true Wyoming citizen until you’ve hit a deer on the freeway.

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Wendy Cartright September 28, 2015 - 4:35 pm

My husband and I have the most cost effective vehicles of anyone we know. While we certainly keep in mind fuel efficiency, we do not care for appearances. We only by used cars that have been minimally damaged on the non-crucial areas of the car. Our vehicles may look tattered and dented on the outside, but they run like new. This saves us several thousand dollars on car payments. We simply take our car to an auto repair shop if we experience any difficulties that may compromise the drive-ability.

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roller bearing perches September 20, 2015 - 8:51 pm

Having a car gives you more responsibility that you should really attend to every time. Being able to take care of your car in the right way makes it lasts longer than what is intended.

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bryanflake1984@gmail.com August 12, 2015 - 3:13 pm

Whenever I need a question answered about anything like auto insurance, my favorite sites are the ones with pictures and charts. That outline which shows what rate levels are like in each region across America is so nice to see. People may not be able to control where they live, but if they move, they can get a leg up on information like this with your webpage.

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Johhnny May 29, 2015 - 2:45 pm

I found this info graphic extremely helpful. I recently bought a new car and fuel efficiency was my big selling point. Something I could do better at is knowing the total cost of the car loan. This was fun to read. Thanks for sharing.

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