SALT LAKE CITY — The average price that drivers pay for their cars has never been higher. Now, Utahns are also carrying nearly the fastest-growing car loan debt in the nation.

Utahns are now carrying an average balance of $20,849 for their wheels. According to WalletHub , that’s a jump of 1.49% in the last three months alone. That’s enough to rank Utah as the fifth highest in the country for the biggest jump in car loan balances. Most states saw their car loan balances either go up by less than one percent or go down.

“1.5% increase in just one quarter — that’s a pretty alarming number,” said WalletHub’s Chip Lupo.

Lupo says Utahns have long gotten good marks for paying our bills on time, but the higher our auto debt goes, the higher the likelihood that some drivers will miss payments

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