How Expensive Is It To Keep a Car in NJ?
A new report that examined the annual cost of operating a car in all 50 states ranks New Jersey as the 14th-most expensive state in the nation.
The most expensive state was Michigan, where drivers typically spent $4,678 per year on gas, repairs, maintenance and insurance. Hawaii was the least costly, with a cost of $3,310.
The 24/7 Wall St. report found the average annual cost of operating a car in New Jersey is $3,754.
"In New Jersey, a typical car owner spent $1,595 on insurance per vehicle (per year), which is the ninth-highest premium of all states," said Doug McIntyre, editor of 24/7 Wall St. "The other main factor that makes the state a very expensive place to have a car is repair costs, since the average is $447, and that's higher than most states. As a matter of fact, I think it was second, after Delaware."
McIntyre also said low gas prices in New Jersey was the top factor that helped to keep costs lower in the state. He added that reformulated gasoline blended with ethanol is required throughout New Jersey -- one of the few states where that's the case.
"The proximity to New York Harbor, which is one of the nation's regions for ethanol, helps lower your gas prices," he said.
After Michigan, the second-most expensive state to have a car in is Mississippi, followed by North Dakota.
The second-cheapest after Hawaii is New Hampshire, followed by Wisconsin.