LAS VEGAS (KTNV) — It feels like everything is more expensive these days, and that includes the price of a car. Unfortunately, as 13 Action News anchor Tricia Kean learned, the cost of owning a vehicle in Nevada is only expected to get worse.
"Yeah, it's definitely getting more expensive," said Leo Waldenback of Zutobi, a driver's education company.
A new report from Zutobi looked at the cost of the Ford F-150, the top-selling vehicle in the U.S. It found the price tag has climbed nearly 21% in the past 10 years — and the pandemic is a major reason why.
HIGH GAS PRICES
First, there were production disruptions on auto parts, including computer chips for new vehicles.
"But then we see the fuel costs. That's where it really starts to get wild in Nevada," Waldenback said.
The American Automobile Association reports the average cost of a gallon of regular gas in Nevada is $3.90 — up $1.32 from just a year ago. Zutobi estimates the annual cost of filling up your tank is only going to get worse.
"It's projected that it will cost $3,343 for the average driver each year in Nevada in 2031," Waldenback said.
INSURANCE RATES
On top of that, Zutobi reports auto insurance rates are down in the U.S. But in Nevada, drivers are actually seeing a slight increase.
"In 2011, Nevada had insurance costs of $1,300 on average. In 2021, those were $1,380," Waldenback said.
When you add up all these factors, plus depreciation, Zutobi says the average cost of owning and running a car in Nevada is expected to rise more than $1,700 over the next decade.
Ten years ago, Nevada was the second-cheapest state to own a vehicle. But Zutobi estimates that by 2031, Nevada will be the second-most expensive.
