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Full rankings and costs
USA Today • • business
Key Points:
- Americans are spending a record average of $5,851 per year on vehicle upkeep, including gas, insurance, and maintenance, driven by rising vehicle prices and dependence on cars for daily life.
- Car ownership costs vary significantly by state, influenced by factors such as driving distances in rural areas leading to higher gas expenses, and dense populations causing higher insurance rates due to increased traffic and collisions.
- The states with the highest average vehicle ownership costs include Georgia ($7,648), Maryland ($7,114), and Wyoming ($7,054), with insurance, gas, and maintenance costs contributing differently depending on the state.
- Rural states like Wyoming face higher gas and maintenance costs due to longer driving distances, whereas more densely populated states like Maryland and Georgia have higher insurance premiums.
- This data underscores the growing financial burden of car ownership across the U.S., impacting consumers differently based on geographic and demographic factors.
