New Yorkers spend an average $2,273 per year to operate a motor vehicle, the 18th most for any state and Washington, D.C., according to a new report from Bankrate Inc., a personal finance site. The national average is $2,223, according to Bankrate.
State residents did not pay as much for gas as many other states, with an average of $713, but ranked fourth for largest insurance premiums, with an average of $1,196. Only Washington, D.C., Mississippi and New Jersey spend more on average for insurance, paying $1,273, $1,277 and $1,244, according to the study. The study said New York state residents spent only $365 a year on average for repairs.
The rankings looked at the average cost of insurance, gasoline and repairs in all 50 states. The company said it compiled the date from CarMD.com, GasBuddy.com, the Bureau of Transportation Statistics and the National Association of Insurance Commissioners.
The most expensive state to maintain a motor vehicle in was Wyoming, the residents of which paid an average of $2,705 per year. Rounding out the top five were Louisiana, Florida, Mississippi and New Jersey, with Garden State residents paying and average of $2,421 per year.
The least expensive state in the ranking was Iowa, which paid $1,942.
