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* Tribune…
It may not feel like it to Chicago-area drivers, but Illinois is the third least expensive state to operate a vehicle, according to a study released Monday by personal finance site Bankrate.com.
Illinois’ drivers spend on average $343 a year in repairs, $698 in insurance and $947 in gasoline, for a grand total of $1,999 in yearly costs, which puts Illinois just below Ohio and Iowa, named the cheapest state at $1,942. (Iowa has the cheapest insurance rates in the country, Bankrate said, and car repairs are also relatively inexpensive.)
Of course, Chicagoland motorists tend to spend much more than drivers across the state on average. Using the average price of gas last year in Chicago versus the Illinois average with Bankrate’s calulation for average gallons used, Chicagoans paid $980 for gas last year compared with $947 statewide.
The most expensive state in which to operate a vehicle was Wyoming, according to Bankrate, with yearly average costs of $2,705.
Chicagoans apparently don’t drive as much as Downstaters, so that would explain why their costs aren’t that much higher.
* But back to reality…
A new report by Realtytrac shows Illinois among the top 10 states in the number of home foreclosures.
The numbers come at a time when homeownership rates in the nation have fallen to a 19-year low.
posted by Rich Miller
Monday, Aug 11, 14 @ 2:47 pm
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What about the costs associated registration and parking?
Comment by Modest proposal Monday, Aug 11, 14 @ 2:49 pm
as we are in the top ten state in population, little surprise we would be in the top ten in such things as foreclosures, along with, I imagine, number of dwellings, autos, television sets, and so on. Knowing percents would make the statement more meaningful
Comment by steve schnorf Monday, Aug 11, 14 @ 2:52 pm
Wow, we keep winning stuff.
Comment by A guy... Monday, Aug 11, 14 @ 3:04 pm
=== A new report by Realtytrac shows Illinois among the top 10 states in the number of home foreclosures.===
Steve beat me to it. IL ranks 5th in population as of 2013. The fact that IL ranks 10th in the number of foreclosures suggests that the state foreclosure rate is not among the top ten.
Comment by Anon Monday, Aug 11, 14 @ 3:23 pm
A state where the largest number of people live in a metropolitan area with the most pervasive public transportation system in the country outside of New York should have the lowest travel costs. How far do people in Wyoming have to drive to get gas or get groceries?
Comment by Nonplussed Monday, Aug 11, 14 @ 3:25 pm
==most pervasive public transportation system in the country outside of New York==
Depends where you live within Chicagoland. Many places the public transit is scarce, at best.
Comment by Precinct Captain Monday, Aug 11, 14 @ 3:32 pm
Does the Bankrate.com own the Bankrate.com poll? Do they get a number of their respondants from their web site?
Comment by TRUTH BE TOLD Monday, Aug 11, 14 @ 3:45 pm
I’m glad. yay, a positive
Comment by Wumpus Monday, Aug 11, 14 @ 3:47 pm
Modest Proposal makes a good point… Within Chicago you need to add $90-$115 per year for the vehicle sticker… Less in many suburbs but still a necessary expense that should be included in the above calculation…
Then add in high parking meter (Ahem, I mean pay box) fees (which don’t even go to the city anymore) or parking garage fees, red-light camera fines, speed camera fines, overzealous parking enforcement officers, court costs associated with challenging said parking enforcement violations (oh, and let’s not forget costs associated with missed work to challenge them), and extra repair costs due to the surplus of unrepaired potholes in the city and the stated average annual amount $1,999 goes quite a bit higher… probably approaching, if not exceeding, that of Wyoming…
Comment by Titus Lucretius Carus Monday, Aug 11, 14 @ 3:48 pm
Is there ever a stat that makes Iowa look bad?
Comment by Illiana Monday, Aug 11, 14 @ 4:00 pm
===Is there ever a stat that makes Iowa look bad?===
Yeah. Income taxes.
Comment by Rich Miller Monday, Aug 11, 14 @ 4:01 pm
===Is there ever a stat that makes Iowa look bad?===
And don’t forget corn dog consumption per capita…
Comment by Titus Lucretius Carus Monday, Aug 11, 14 @ 4:07 pm
Also, considering we have State Farm and Allstate it is not surprising that auto insurance runs less here. Maybe Illinois should recruit a major workmans comp insurance to relocate their headquarters here?
Actually, Titus, repairs are included in this. But we generally agree eachother.
Comment by Modest proposal Monday, Aug 11, 14 @ 4:24 pm
Illinois drivers only spend $18.21/week on gas?
lololololol
Comment by oz Monday, Aug 11, 14 @ 5:12 pm
“Also, considering we have State Farm and Allstate it is not surprising that auto insurance runs less here.”
It doesn’t hurt to have major insurance companies headquartered here but, actually, the real reason is that Illinois deregulated insurance rates in the early 1970s (about the time the feds deregulated air fares). One of the reasons why the General Assembly was willing to enact this regulatory experiment was surely the presence of a large domestic industry, but over time the proponents of deregulation have proved to be very correct. Rates are lower in deregulated states than in regulated states.
Comment by 39th Ward Monday, Aug 11, 14 @ 5:13 pm
A few years ago, gas prices soared and there were a limited number of jobs, the CTA became the busiest I had ever seen it and it seems to be maintaining those levels. Between the CTA and increased bike riding, I can imagine gas usage in the city to be quite low. However, Chicago does have rather high insurance prices and I bet we spend plenty on fender benders.
Comment by Belle Monday, Aug 11, 14 @ 5:18 pm
The math just doesn’t work out when one considers that the US census says Illinois workers mean travel time to work is 28 minutes and the avg EPA estimates that the average new vehicle will get 23 mpg.
This would mean that Illinoisans spend one gallon or less a day to get to and from work and work is only 12 miles away.
I’m not buying it.
Then add in your state lic plates. city sticker, parking and tolls and tell me again how inexpensive it is to own a care in Chicago?
Yeah, right.
Comment by oz Monday, Aug 11, 14 @ 5:34 pm
I love Iowa.
Living in Illinois permits me to visit it often to buy Premium Grain Belt beer.
Comment by VanillaMan Monday, Aug 11, 14 @ 8:57 pm
Is there ever a stat that makes Iowa look bad?===
yeah failed marriages between first cousins are up there.
Comment by CircularFiringSquad Tuesday, Aug 12, 14 @ 7:08 am
Cheap insurance, no falling for the snake oil that is no-fault, and car licensing fees that, at least on new vehicles, are quite low. Pity that with our flat tax fetish they’re still the same on any old thing from 10 or 20 years ago. I’d suspect if you broke it all down, the least favorable area of the state cost-wise would be the suburbs, what with very long commutes, poor public transit, many situations where you still have to pay for residential and/or work parking, and tolls. And even in the city, where parking used to be very cheap by big city standards, that has all gone away with the meter lease and the huge new taxes on ramps. Did this survey take tolls or parking into account?
Comment by Angry Chicagoan Tuesday, Aug 12, 14 @ 8:22 am
Still, forgot to add to the comment, I’ve found it very easy to find good, affordable mechanics here; I think that definitely helps.
Comment by Angry Chicagoan Tuesday, Aug 12, 14 @ 8:23 am