This Northeast city is the worst place to own a car, new study says
Yahoo FinanceJanuary 25, 2017
Owning a car offers freedom and convenience, but it also comes with stress. As with most big purchases, the state you live in can have a huge impact on costs, and a new study confirms that car ownership in coastal cities can be a time consuming and expensive experience.
According to SmartAsset, a personal finance advice site, Newark, NJ, is the worst city in the United States to own a car. Why? Newark’s proximity to New York City makes traffic a nightmare, as nearly 5 million people in the metro area attempt to drive to work every day. This gridlock costs the average driver $1,739 in traffic costs, due to travel time and extra fuel consumed while idling.
To compile its list, SmartAsset looked at several factors of car ownership, including number of hours spent in traffic, annual cost of traffic, the number of repair shops, accessibility to parking garages, stress, public transportation options and theft.
Speaking of theft, Newark is also a tough on car owners because, well, your car might get stolen. According to the New Jersey State Police, there were 2,412 total motor vehicle thefts in Newark in 2014. That is equal to 8.66 car thefts per 1,000 residents. In comparison, Arlington, Va. had the lowest number of thefts per capita on SmartAsset’s list, with 157 thefts a year, or 0.7 thefts per 1,000 residents.