Tuesday, August 12, 2014

Florida 3rd Most Expensive State To Own A Car

ORLANDO, Florida -- Florida is the third most expensive state in the U.S. to own and to operate a motor vehicle, according to a new Bankrate.com report.

The average cost to own and operate a motor vehicle in the Sunshine State costs $2,516 per year,  nearly $300 more than the national average of $2,223.   

Insurance is the top contributor to the total cost to operate a vehicle in Florida at $1,124 per year, followed by gasoline ($1,015) and car repairs ($377).

But as previously reported by Brevard Times, auto insurance rates can vary widely in Florida by zip code with residents in the Miami area paying around twice the state average while the Gainesville area is often the lowest.

Wyoming was the most expensive state to operate a motor vehicle and Iowa is the cheapest.  In Wyoming, a typical driver spends $2,705 per year to operate his or her vehicle. In Iowa, the average driver spends just $1,942 per year.