Owning a car comes with a variety of other expenses, from registration and maintenance costs to gas and car insurance. The cost of insurance varies depending on a number of different  factors. Luxury and sports cars tend to cost a great deal more to insure than standard sedans, and even the color of a vehicle can influence the insurance costs.

Drivers looking to purchase new or used vehicles may need to take the cost of insurance into account to ensure a particular model will fit their budget, and sometimes the competition can be quite fierce. Automobile.com recently conducted a survey that examined the difference in insurance costs between a Hyundai and a Kia.

"These were the most competitive auto insurance comparison survey results we have witnessed to date," said Automobile.com writer Andrew Evans. "The two South Korean automakers were deemed to be close competitors in terms of annual insurance policies."

The results showed that Hyundai drivers spend an average of 7.03 percent more on their insurance policies than Kia owners. The average annual price Hyundai owners paid was $946.05, and Kia drivers averaged an annual cost of $884.23. While this is not a huge variation, it can make the difference for someone on a tight budget.

Some drivers may want to look into used cars, as older models can be less expensive to insure than new vehicles. New Jersey Auto Auction has a wide variety of makes and models to choose from. Plus anyone requiring financial assistance is guaranteed credit approval thanks to a partnership with the Credit Acceptance Corporation.