Thursday, August 21, 2014

The High Cost of Car Maintenance

It may seem like it’s horrifically expensive to keep your car in New Jersey, especially given our sky-high insurance rates. But rest assured, there are states that have it worse.  In a new survey from Bankrate, New Jersey came in as just the fourth most-expensive place to keep a car.
 
Considering insurance, repairs and gasoline, the average car owner in New Jersey spends $2,421 on his or her vehicle each year. But four states actually spend more: Wyoming, Louisiana, Florida and Mississippi. Only Louisiana and Washington D.C., charge higher auto insurance rates than our state’s average of $1,244.  But our average annual repair bill - $393 – is the highest in the nation.
 
The cheapest state in which to keep a car? Iowa, whose residents spend just $1,942 per year on each vehicle.

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