Mar 20, 2017 10:06 AM
Thanks to no sales tax, NH ranks 'least expensive state to own a car'
GOBankingRates.com has ranked the 50 states by "The Most and Least Expensive States to Own a Car" and New Hampshire came out on top.
GOBankingRates has analyzed the major expenses behind owning a car and found that on top of car payments, Americans spend an average of $12,125.99 on additional expenses over the course of three years.
Luckily for New Hampshire residents, the price tag is a bit cheaper to own and maintain a car.
According to the article, usage and ownership costs of a car in the Granite State averages to $9,020.76 over a three year period, making it the least expensive in the country.
With New Hampshire being one of only four states in the U.S. that do not charge a sales tax on auto purchases, residents save money.
At the bottom of the list is Michigan, being the most expensive state to own a car.
The average cost of usage and ownership of a car in Michigan is $16,502.77 which is over $4,000 more than the national average and over $7,000 more than the NH average.