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Low cost car ownership

Low cost car ownership

(Cleveland) - Ohio is one of the cheapest states to own a vehicle according to a survey from a financial website.

Bankrate.com ranked the Buckeye State 41st on the most expensive states for operating a vehicle. Researchers combined the average costs for repairs, gasoline and insurance along with taxes and fees.

"Wherever you go in the country you're going to spend about the same to buy a car, but the operating costs is really what's going to be affecting you over time," said Chris Kahn with Bankrate.com.

The most expensive state was Georgia with an average cost of $4,233 while Oregon was found to be the cheapest at $2,204. At $2,810 Ohio was cheaper than all of its neighbors, except Pennsylvania where overall owenership costs were $2,764 and Indiana at $2,698. On the other end of the scale, Kentucky was the 7th most expensive state with a total cost of $3,626. Taxes and fees are the difference-maker.

"It's about 1,400 per year according to a three-year average estimate that we have. In Ohio that's about $880 per year," Kahn said.

West Virginia was 21st at $3,293 and Michigan 24th in the nation at $3,240.

"Things are just cheaper in the middle of the country than they are on the coasts," Kahn said.

It's the first year the website has combined all four categories to come up with the nationwide ranking.

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