Between insurance, fuel, and maintenance and repairs, the typical motorist in Washington can expect to spend about $2,709 per year on vehicle ownership — the 24th lowest annual cost estimate among states. Nationwide, the average cost is about $2,807.
What is Washington’s average cost of owning a new car?
Over five years, the most expensive state for total cost of ownership came in at $16,357 more than the cheapest state, which breaks down to $3,271 a year.
How to calculate your total cost of ownership.
| State | Total including all costs over five years |
|---|---|
| Mississippi | $26,063 |
| Maryland | $25,962 |
| Florida | $25,758 |
| Washington | $25,702 |
What is the monthly cost of owning a car?
In 2021, the average car costs $42,258 with an average payment of $563 per month, according to data from Kelley Blue Book and LendingTree. Beyond the sticker price and payments, however, there are the costs of gas, insurance, oil changes and other expenses car owners need to consider.
How much does it cost to own a car per year?
The total cost of ownership for a car is $955 per month when you include all your car payments, gas, maintenance, and auto insurance costs.
What is the total cost of ownership for a car?
| Finance payments | $350 |
|---|---|
| Car administrative fees | $10 |
| Parking fees | $50 |
| Car insurance | $300 |
| GRAND TOTAL | $955/month (or $11,460 annually) |
What are the costs that come with owning a car?
The cost of owning a car also includes insurance, gas, depreciation, maintenance costs and more. According to a study by AAA, the total cost of owning a new vehicle in 2021 is $9,666, which is in addition to the vehicle’s purchase price.
Which state is the cheapest to own a car?
The Cheapest States for Car Owners
- Hawaii.
- New Hampshire.
- Maine.
- Alaska.
- Minnesota.
- North Carolina.
- Wisconsin. Car Ownership Affordability Score: 84.41 out of 100 (Rating: Affordable)
- Idaho. Car Ownership Affordability Score: 83.56 out of 100 (Rating: Affordable)
How much is tax and license on a car in Washington?
Washington State Vehicle Sales Tax on Car Purchases
According to the Sales Tax Handbook, a 6.5 percent sales tax rate is collected by Washington State. On top of that is a 0.3 percent lease/vehicle sales tax. This means that in total, the state tax on the lease or purchase of a vehicle adds up to 6.8 percent.
How much is the average car payment?
$644
The average monthly car payment for new cars is $644. The average monthly car payment for used cars is $488.
How much is average car insurance?
The national average cost of car insurance is $1,630 per year, according to NerdWallet’s 2022 rate analysis. That works out to an average car insurance rate of about $136 per month.
How much does a car cost in 2021?
The new average was noted by Kelley Blue Book, which also calculated an amazingly rapid rate of increase for car prices for the past three years. The average price rose just under $1800 in 2019, then just over $3301 in 2020, and then an incredible $6220 in 2021.
How much money can you save by not owning a car?
Saving money
Experian estimates that the US average new car payment is $554 per month, not counting insurance, gas, parking, and repairs. By not owning a car in the Bay Area specifically, I’ll be saving around $14,625 per year, according to Fortune.
What will a car cost 2022?
New-vehicle average transaction prices (ATPs) increased to $46,526 in April 2022, according to new data released by Kelley Blue Book, a Cox Automotive company.
How much do you spend on car maintenance per year?
According to CAA, maintenance costs can run you between $500 and $700 per year. Broken down, you may want to put away anywhere from around $42 to $58 per month. Of course, the more you have set aside, the more prepared you’ll be. But don’t forget that vehicle maintenance costs do vary.
What is the most expensive part of owning a car?
The six major costs of owning a car
- Fuel. The average cost is $1,681.50, or 11.2 cents per mile.
- Finance charges.
- Depreciation.
- Insurance.
- Maintenance and tires.
- Licensing, registration and taxes.
What is the most expensive cost of owning a car?
As it turns out, depreciation is the single biggest cost when owning a new car as it accounts for around 40% of the overall amount. Fuel costs come second at an average of 10.72 cents per mile, while electric car owners pay an average of 3.66 cents a mile.
What state has the highest car registration fees?
Oregon
Oregon has the highest registration fees in the U.S.: between $268.50 and $636.50 for new vehicles and $122 and $306 to renew for two years. Florida follows with a new vehicle registration fee of $225. This is a one-time fee, and there are separate additional fees based on the vehicle’s weight.
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
What states do cars rust the most?
The salt belt, also known as the “rust-belt,” is where the rusting in cars is found the most.
These are the states where you should expect your car to rust the most:
- Ohio,
- Pennsylvania,
- Rhode Island,
- Vermont,
- Virginia,
- West Virginia,
- Wisconsin,
- and Washington D.C.
How much are tabs in Washington state?
Tab fees start with $30, go up from there
$30 license fee. $25 base weight fee (vehicles less than 4,000 pounds) $8 service fee (kept by the subagent if registered there, used for the state ferry system if registered at a county or state office.) $4.50 filing fee.
Is it cheaper to buy a car in Washington state?
In Washington, buying a car is a little bit easier and cheaper than in some other states.
What is needed to register a car in Washington?
What You’ll Need
- Completed Vehicle Certificate of Ownership (Title) Application (Form TD-420-001)
- Proof of identity.
- Proof of ownership.
- Proof of emissions inspection (if applicable)
- Payment for applicable fees & taxes.
