Adding to this discussion, I would focus on the ad itself and skip over the financial and logistics aspect because everyone's situations is a little unique. However, if you are a college student in need of a car, buy a reliable used car. Used cars are much better deal than a brand new one if you do your due diligence.
I don't get why the cyclist on the bike needs to be ashamed of himself. He is riding (for that little bit I can see) a nice looking bike. Also, no respectable girl would laugh at cyclists beside the ignorant kind which I don't care (no offense, neither should anyone who is on this forum) too much for anyway. This is especially true because of most college campuses I know, bike has be a well-established mode of transportation.
Finally, as a man I can't get inside a female mind on how a female would view a male cyclist. However, may I dare to say bike adds considerable points to the attractive factor of any female.
Ads are designed to sell things. Therefore, proper use of humor/sarcasm or selective emphasis of facts are allowed in general. However, this ad has went beyond the said rules.