Sunday, November 29, 2015

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 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.

Contact Emily Babay at 215-854-2153 or Follow @emilybabay on Twitter.

Contact the Breaking News Desk at 215-854-2443 or Follow @phillynews on Twitter.
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