Study: N.J. 5th-priciest state for car owners

New Jersey is among the most expensive states for car owners, according to a new study.

A study released today by the personal-finance site Bankrate.com says New Jersey residents spend, on average, $2,421 on repairs, insurance and gas for their vehicles each year.

That was the fifth-highest total in the country, Bankrate said, behind only Wyoming -- the most expensive state for drivers, with car owners paying an average of $2,705 per year -- Louisiana, Florida and Mississippi.

New Jersey's high ranking appeared to be due to insurance costs in the state: Bankrate's analysis said New Jersey drivers pay $1,244 per year for insurance, the third most expensive price in the nation.

Pennsylvania, meanwhile, ranked as the seventh-cheapest state, with car ownership costs totaling an average of $2,052 each year.

Iowa was the least expensive state for motorists, with yearly costs averaging $1,942.