Cost of Owning a Car in New Jersey
How New Jersey’s gas prices, electricity rates, sales tax and insurance costs affect what you’ll typically pay to own a vehicle.
New Jersey at a glance
Gas price
$3.35per gallon, illustrative averageElectricity
$0.17per kWh, illustrative averageSales tax
6.62%plus ~$80 average registrationInsurance in New Jersey runs above the national average in this model, reflected as a 1.10× multiplier on our base class rates.
What drives the cost in New Jersey
Costs are pushed up mainly by insurance rates (about $867 more over 5 years) and sales tax (about $763 more over 5 years). Working in your favor: gas prices (about $389 less over 5 years). (Figures are for a typical SUV compared with the average state.)
5-year cost by vehicle class in New Jersey
Uses real market-average vehicle prices per class (from our 152-vehicle MarketCheck pull) combined with New Jersey-specific tax, fee, fuel and insurance data.
Sedan
$34,6765-year estimate, $578/moSUV / crossover
$46,9805-year estimate, $783/moTruck
$49,2875-year estimate, $821/moElectric
$50,3415-year estimate, $839/moLuxury
$70,9235-year estimate, $1,182/moPopular vehicles: 5-year cost in New Jersey
2026 Toyota RAV4
$36,2225-year cost in New JerseyFull breakdown →2026 Honda CR-V
$35,8585-year cost in New JerseyFull breakdown →2026 Toyota Camry
$31,9475-year cost in New JerseyFull breakdown →2026 Honda Civic
$27,7555-year cost in New JerseyFull breakdown →2026 Ford F-150
$61,4065-year cost in New JerseyFull breakdown →2026 Tesla Model Y
$40,2685-year cost in New JerseyFull breakdown →2026 Chevrolet Equinox
$40,9005-year cost in New JerseyFull breakdown →2026 Toyota Corolla
$27,7065-year cost in New JerseyFull breakdown →EV vs. gas in New Jersey
At New Jersey’s $0.17/kWh electricity and $3.35/gal gas, charging a typical EV at home costs about $673 a year, versus about $1,297 a year to fuel a typical gas sedan — a savings of $624 per year. Run your own numbers with the EV vs. gas calculator.