Nevada is the most costly state to personal a car, based on a brand new research.
Nevadans pay probably the most for automobile possession, with a median annual value of $6,118.86, based on a research from LendingTree. Auto insurance coverage charges, gas bills, annualized gross sales tax and restore prices have been all factored in to create the typical price.
In accordance with the research, the typical annual insurance coverage premium is the best within the nation at 3,438.67.
LendingTree sourced the knowledge from Quadrant Data Companies and analyzed in October 2024. The common annual value displays “the typical 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,” based on the methodology the research.
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 value.
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, based on 2024 knowledge from the Tax Basis.
“Every state’s mixed state and native tax proportion was multiplied by the typical value of shopping for a used automobile, $27,177 (by way of Edmunds, as of the third quarter of 2024),” stated the methodology part of the research. “The ensuing quantity of gross sales tax was then divided by the size, in years, an proprietor sometimes retains a automobile — 6.5 years (by way of Edmunds).”
