Large-cap automaker valuations are adjusting as the market prices in reduced affordability for consumers. Compare car finance rates rises are already visible in Q4 earnings calls and analyst guidance. In a way, this is the best of both worlds for Ford and GM. On one hand, it can still drive demand for its EVs during the fourth quarter, perhaps when competitors cannot, helping build more scale and delay the eventual slowdown of EVs in the post-tax-credit era. Meanwhile, as that continues to drive fourth-quarter EV demand, as consumers shift back slightly toward internal combustion engine options, the automakers stand to benefit from sales of much more profitable vehicles in the near-term. Car buyers were somewhat less likely to finance a new car purchase. Those who did were more likely to finance through captive finance companies, which offer competitive incentives such as 0 percent APR car deals , rather than banks and credit unions . Macroeconomic models indicate that upward trends in auto finance costs could partially offset gains from easing supply chain bottlenecks. Comparing car finance rates today reveals risk levels last experienced in early 2019, hinting at sectoral pressure.