When making big purchases like buying a house or purchasing a car there is always fees that come along with the transaction. Whether its transfer taxes, recording charges or doc fees, there is always something the consumer will be charged that might not be displayed or taken into consideration when planning a big purchase.
Savvy consumers budget for those extra fees or include them in the negotiation process, especially when shopping for a vehicle. What’s interesting though is how these fees can vary from state to state. Some states’ fees are a bargain while others can be a deal breaker because they add a few thousand dollars more to the final purchase price.
Knowing what your state legally allows helps to answer the question, “what is it really going to cost to get this out the door and in my driveway?” Wondering how your state compares to the rest? Well MojoMotors.com, a used-car classified ad site did some research and compiled the five most expensive and least expensive states to buy a car taking into account these unexpected fees.
The study was based on an average-priced car totaling $16,500.
Most Expensive States:
1. Alabama; $2,313 average total fees; 14 percent of sales price;
2. Arizona; $2,297 average total fees; 13.9 percent of sales price;
3. Colorado; $2,284 average total fees; 13.8 percent of sales price;
4. Tennessee; $2,061 average total fees; 12.5 percent of sales price;
5. Florida; $1,869 average total fees; 11.3 percent of sales price.
1. Oregon; $127 average total fees; 0.8 percent of sales price;
2. Alaska; $356 average total fees; 2.2 percent of sales price;
3. New Hampshire; $359 average total fees; 2.2 percent of sales price;
4. Montana; $724 average total fees; 4.4 percent of sales price;
5. Hawaii; $817 average total fees; 5 percent of sales price.
Please visit MojoMotors.com to see the full list of states.