Nevada is the costliest state to personal a car, in accordance with a brand new examine.
Nevadans pay essentially the most for automobile possession, with a mean annual value of $6,118.86, in accordance with a examine from LendingTree. Auto insurance coverage charges, gasoline bills, annualized gross sales tax and restore prices had been all factored in to create the typical charge.
In response to the examine, the typical annual insurance coverage premium is the very best within the nation at 3,438.67.
LendingTree sourced the knowledge from Quadrant Info Companies and analyzed in October 2024. The typical annual value 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 examine.
Nevada drivers spent $1,937.41 on fuel annually. 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 typical annual restore prices had been $398.26, though the info was pulled from 2021, sourced from CarMD.
The typical 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 share 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 examine. “The ensuing quantity of gross sales tax was then divided by the size, in years, an proprietor usually retains a automobile — 6.5 years (by way of Edmunds).”
