Nevada is the most costly state to personal a automobile, in response to a brand new research.
Nevadans pay essentially the most for automotive possession, with a median annual price of $6,118.86, in response to a research from LendingTree. Auto insurance coverage charges, gasoline bills, annualized gross sales tax and restore prices had been all factored in to create the common fee.
In accordance with the research, the common annual insurance coverage premium is the very best within the nation at 3,438.67.
LendingTree sourced the data from Quadrant Data Companies 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 report, good credit score and a 2015 Honda Civic EX,” in response to the methodology the research.
Nevada drivers spent $1,937.41 on gasoline 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 had 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 response to 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 (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 automotive — 6.5 years (by way of Edmunds).”
