Top 5 most, least expensive states to own a car; insurance is only part of the story

Auto insurance is a large component of the overall cost of owning a car, so it’s no surprise the state with the lowest annual cost of insurance is also the state with the lowest annual cost of car ownership.

But insurance is by no means the only factor. In fact, the state with the highest annual cost of car ownership is among the cheapest 20 states with respect to estimated insurance costs, at least according to Bankrate’s 2014 Car Cost Study.