The demand for used cars has increased tremendously over the past year. As a result, the cost of used vehicles have gone up 45 percent. That means if you’re a car buyer, you must keep in mind that vehicle ownership costs go beyond the listed price. However, this cost is not the same across the country. In fact, in many states, riders and motorists may have to spend thousands of dollars every year compared to others.
Let’s delve into the details to learn how much it costs to drive in Georgia.
How Much Does It Cost to Drive in Georgia?
As mentioned above, the typical driver in Georgia can expect to spend approximately $3,161 annually on vehicle ownership. This involves paying for fuel, maintenance, and insurance costs. The overall cost is around $2,807 nationwide.
It’s worth mentioning that the largest vehicle ownership expense for drivers is insurance. Since the overall vehicle ownership cost is higher in Georgia compared to the national average, drivers can expect to pay more in premiums.
That means if you’re a single, 40-year-old man with good credit and clean driving records, your annual insurance payment will still be around $300 more expensive than the national average.
How Annual Driving Cost is Calculated
Estimated yearly costs of driving at the state level are based on several factors. These include the cost of gasoline, insurance, and repairs. Typically, the data comprising the average cost of vehicle repairs, including labor and parts, come from CarMD, an automobile software developer.
In the same line, the data on states yearly insurance costs come from car reviewing websites such as insure.com. It’s typically based on average coverage for a single male driver with good credit and a clean record.
Data on standard gasoline spending per driver is calculated using the total miles a car has traveled. It comes from the Federal Highway Administration that considers the following to calculate gas expenditure;
- the total number of approved drivers
- the average price of a gallon of gasoline in Georgia from AAA
- the average economy of fuel for all U.S. vehicles from the Environmental Protection Agency
How to Calculate the Driving Cost
Generally, to calculate the driving cost in any state, you need to consider
- Driving distance
- Reverse cost of driving
- Drive time
- Stopping points
- Flying time
- Time zone change
In a nutshell, multiple factors affect the cost to drive in Georgia. A lot of it you can control with good driving and maintaining clean records. However, you can’t control the affect your age and gender has on your insurance rate. The best thing to do is talk to your agent, compare quotes once or twice yearly, and be a cautious driver.