Market sentiment around car finance loans equities has strengthened after multiple management teams issued optimistic forward guidance during recent quarterly earnings calls. Some commenters also suggested getting an e-bike, while others cautioned that it may not be feasible if the 20-year-old lives in an area that gets long winters. There are plenty of ways to commute that do not involve buying a car. Having your own vehicle is a luxury that you must be able to afford. Rushing into it can set you back financially for several years. While a 20% APR is a bad deal, the best way to handle it is by selling the car. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every car loan list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best car loans for bad credit Latest quarterly reports from leading car finance loans providers show net charge-offs holding steady, an encouraging signal for investors concerned about credit cycle peaks.