What is the average annual cost of a car in the USA. For sure you need to know before setting out on buying your first car. Or in case you already have a car, you may intend selling it. It is generally not advisable to keep a car for more than 3years as the retail value of the car can get to ridiculous lows.The effects of wear and tear on the car may also have a profound effect on the car and the buyers may make very low offers as they will fully expect to obtain your car at a very low cost.

The average annual cost of a car depends on the make of the car and how expensive it is to you is relative to your financial status and the financing that is available to you. To be certain, when talking about auto financing, the most important factor is interest rates. Presently interest rates in the USA are at rock bottom, so it should generally be cheaper to purchase a car at a reasonable price now.

Another thing you'll need to take into consideration is the cost of auto insurance as that determines your overall spendings in securing and maintaining your car. The average annual cost in North Dakota is $530 while in Washington DC, it is around $1,164. The states that have the most expensive rates include Delaware, New York, Nevada and New Jersey.

If you were to pay for auto insurance in Detroit two years ago, you would have paid about $5000 but the average presently is about $1000. Generally the global economic crises which is presently turning around has helped bring down costs across the board and we can expect the average annual cost of any car presently to be within an affordable range for most working Americans.