Nevada is the most costly state to personal a car, in accordance with a brand new research.
Nevadans pay probably the most for automobile possession, with a median annual price of $6,118.86, in accordance with a research from LendingTree. Auto insurance coverage charges, gasoline bills, annualized gross sales tax and restore prices have been all factored in to create the typical price.
In keeping 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 Info Companies and analyzed in October 2024. The common annual price displays “the typical of premiums accessible 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 accordance with the methodology the research.
Nevada drivers spent $1,937.41 on gasoline every year. This information was pulled from AAA on Nov. 13, 2024, and mixed with Federal Freeway Administration 2022 miles traveled and licensed drivers information to calculate the annual price.
The common annual restore prices have been $398.26, though the info was pulled from 2021, sourced from CarMD.
The common annualized gross sales tax for Nevada is $344.52, in accordance with 2024 information from the Tax Basis.
“Every state’s mixed state and native tax share was multiplied by the typical price of shopping for a used automobile, $27,177 (through Edmunds, as of the third quarter of 2024),” mentioned the methodology part of the research. “The ensuing quantity of gross sales tax was then divided by the size, in years, an proprietor usually retains a automobile — 6.5 years (through Edmunds).”
