Nevada is the costliest state to personal a car, in accordance with a brand new examine.
Nevadans pay essentially the most for automotive possession, with a mean annual price of $6,118.86, in accordance with a examine from LendingTree. Auto insurance coverage charges, gasoline bills, annualized gross sales tax and restore prices have been all factored in to create the common price.
In line with the examine, the common annual insurance coverage premium is the very best within the nation at 3,438.67.
LendingTree sourced the knowledge from Quadrant Info Providers and analyzed in October 2024. The common annual price displays “the common of premiums out there for full-coverage insurance policies for a 30-year-old male driver with a clear document, good credit score and a 2015 Honda Civic EX,” in accordance with the methodology the examine.
Nevada drivers spent $1,937.41 on fuel every year. This knowledge was pulled from AAA on Nov. 13, 2024, and mixed with Federal Freeway Administration 2022 miles traveled and licensed drivers knowledge to calculate the annual price.
The common annual restore prices have been $398.26, though the information was pulled from 2021, sourced from CarMD.
The common annualized gross sales tax for Nevada is $344.52, in accordance with 2024 knowledge from the Tax Basis.
“Every state’s mixed state and native tax proportion was multiplied by the common price of shopping for a used automotive, $27,177 (through Edmunds, as of the third quarter of 2024),” mentioned the methodology part of the examine. “The ensuing quantity of gross sales tax was then divided by the size, in years, an proprietor usually retains a automotive — 6.5 years (through Edmunds).”
