RI News
8:55 am
Thu August 22, 2013

Rhode Island: One of the Most Expensive Places to Own a Car

It costs more to own a car in Rhode Island than practically anywhere else in the country. That, according to the website Bankrate which is out with its first ever Car Cost Index.

Rhode Island has the fourth highest cost of car ownership in the country, according to Bankrate.com.  Only Georgia, California and Wyoming residents pay more for taxes, fees and insurance.

Bankrate.com finds that car ownership in Rhode Island costs $3,900 a year.
Credit file / RIPR

In Rhode Island it costs more than $3,900  a year to own a car.  Bankrate says taxes and fees in Rhode Island are 62 percent higher than the national average while the cost of insurance, about a thousand dollars a year, is 31 percent higher than the national average.  The cheapest states to own a car are Oregon, Alaska, South Dakota, Montana and Indiana.

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