Buying a car in Connecticut? This is one of the most expensive places to own

Owning and operating a new car in Connecticut costs $314 more per year than the national average, according to a new AAA study.

The average cost to have a new car in Connecticut is $11,042 or $920.16 per month. That compares to the national average of $10,728 or $894 per month, according to AAA’s annual Your Driving Costs study.

According to Alec Slatky, director of public and government affairs for AAA Northeast, the reason the cost of owning and operating a new car in Connecticut is higher than the national average is because of repair and maintenance costs. higher insurance.

“We have a relatively high proportion of luxury vehicles in Connecticut, which likely explains the higher insurance costs,” Slatky said.

The average cost of owning and operating a new car in Connecticut was higher than in all neighboring states, he said. According to the study, the annual cost of a new car in Massachusetts is $10,976.08, while it is $10,539.69 in New York and $10,869.26 in Rhode Island.

In addition to evaluating the average cost of owning a new car on a national and state basis, AAA also evaluated costs by model. The organization reviewed 45 top-selling average price models across nine vehicle categories.

Ratings were based on six factors: fuel, maintenance/repair/tire costs, insurance, license/registration/taxes, depreciation, and finance charges. The study was based on a five-year ownership period, 15,000 annual travel miles and a national fuel price of $3.999 per gallon.

Small sedans had the lowest annual ownership costs. Electric vehicles came in second thanks to lower maintenance and fuel costs, according to Slatky.

An electric vehicle owner will spend about 4 cents per mile to charge at home, he said. The owner of a gas-powered car will spend approximately 18.4 cents per mile to fill their vehicle’s fuel tank

That translates to more than $2,000 a year in fuel cost savings for electric vehicle owners, according to Slatky, based on driving 15,000 miles a year.

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