GOOD NEWS: IT’S CHEAPER TO OWN A CAR IN ILLINOIS THAN MOST OTHER STATES

AUG 15, 2014

What if you were told Illinois is one of the least expensive states to own a car?

This might be hard to fathom, but Illinois is indeed one of the 10 cheapest states in terms of car ownership costs, according to Bankrate’s 2014 car cost study.

Bankrate’s survey compiled data from GasBuddy.com, CardMd.com, the Bureau of Transportation Statistics and National Association of Insurance Commissioners to figure in the estimated annual expenses for gas, auto repairs and insurance in each state. The Midwest is the least expensive region in the country for car owners.You might be saying to yourself, “What about Illinois’ toll road tariffs, which have an average median cost of $2.05 and encompass 377 miles of the state’s roads?” Or maybe something shorter, perhaps an eight-letter word that rhymes with pulpit. While it’s a valid point, Illinois is one of only 31 lucky states that have tollways. Additionally, since auto repair statistics were taken from 2012, you can bet damage due to the abundance of potholes this year weren’t included.

Cynicism aside, Illinois making an appearance on a good Reboot Illinois “top list” — especially when it comes to costliness — is a rare phenomenon; let’s savor the good news while we can.

The national average for owning a car runs $2,223 per year; here are the top 10 most and least expensive states, including a breakdown of estimated annual costs for repairs, insurance and gas.

 

Here’s what it costs to be an Illinois car owner:

Bankrate’s methodology:

Bankrate ranked all 50 states and the District of Columbia using three main criteria: repairs, insurance and gasoline. Labor and parts data were provided by CarMD.com’s analysis of more than 160,000 repairs in the U.S. in 2012. Gas spending was calculated with 2013 average pump prices from GasBuddy.com and the Bureau of Transportation Statistics on fuel efficiency (in 2012) and average vehicle miles traveled (in 2010). Insurance costs were compiled with National Association of Insurance Commissioners statistics from 2007 to 2011.

 

NEXT ARTICLE: Why the Illinois race for governor isn’t remotely ready to call

 

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