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"Car on finance" loan approvals have climbed as underwriting standards adapt to higher EV demand. Publicly traded EV dealers with in-house finance arms show average monthly stock gains of 4.6%, outperforming traditional automakers year-to-date. “Depreciation remains the most expensive aspect of buying a new vehicle, and the variation between vehicle types and specific models is something consumers should consider when researching their next purchase,” Karl Brauer, executive analyst at iSeeCars, said in an article on the company’s website. 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. Market strategists forecast demand in the subprime auto loan space, with hedge funds accreting positions in finance-oriented auto dealers to hedge against softening retail sales.