You would guess that owning a car in Hawaii or Alaska would be more expensive due to the all the shipping costs involved in getting the car there, then the price of gas is sure to be higher for the same reasons. But if you lived in Connecticut would you expect owning a car in New Hampshire, which is only 100 miles away to be less? Surprisingly, it is!
It all has to do with state taxes…New Hampshire doesn’t have them so the purchase of the car and the gas bought to put in the car will be cheaper. In fact, owning a car in New Hampshire will be almost $9,000 cheaper over five years than owning one in Connecticut.
Forbes.com did a study and found that New Hampshire, South Dakota, and South Carolina are the best states to own a car. Hawaii, California, and Alaska are the worst.
Here’s the complete list with an explanation of why these are the best (or worst) states to own a car in.
||Average Five-year cost
||Highest gas prices in the country
||High prices on everything from fuel to maintenance
||High insurance, fuel, and maintenance costs
||High taxes and maintenance costs
||Lowest insurance in the country
||Lowest financing costs of any state
||Sales tax capped at $300, cheapest gas
||Low insurance, taxes, and fees
||No sales tax, low cost insurance
Look for a dealer in your state.