Make caramel sauce (can be made weeks ahead):Grease the sides of a medium saucepan with non-stick spray. Add butter, brown sugar, water, and salt and cook over medium-low heat, stirring constantly, until the butter has melted. Bring the mixture to a boil., stirring constantly. Reduce heat to a simmer and cook for 8 minutes, stirring, until golden brown and thickened (keep in mind it will continue to thicken as it cools). Remove from heat and stir in vanilla and evaporated milk.

Prep cake: Grease and flour a 10-inch bundt pan. Set aside. Preheat oven to 350 degrees F. Toss the diced apples with lemon juice (keeps them from browning) then set aside.

Dry ingredients: In a medium bowl, whisk together the flour, baking soda, cinnamon, nutmeg and salt.

Wet ingredients: In another large mixing bowl mix oil and granulated and brown sugars. Mix in applesauce and vanilla. Add the egg then mix.

Combine: Stir in the dry ingredients, just until incorporated, then stir in the diced apples. Don't over-mix. The batter will be thick.

Bake: Pour into prepared bundt pan and bake in preheated oven for 50-65 minutes, or until a toothpick inserted in the cake comes out clean. Remove from oven then cool for 5-10 minutes before inverting onto a wire rack.

Serve slices drizzled with caramel sauce on top.