I have quite a bit of savings (enough to buy a nice car), but not enough to finance my entire 4 year medical school education. Needless to say I will need to take out loans to pay for my tuition, cost of living, etc... If I don't buy a car, and use that towards my education, then at the end of 4 years I will basically have $20k less debt. But will this $20k make much of a difference when the entire debt will be around $150k, and you assume an average doctor's salary? I would not be using my entire savings on a car. Pros for getting a car, I won't have to worry about my car breaking down during med school. My current car has not given me any troubles, but it is 6 years old. But mostly I want to get it because I just want it so baaaaaddly.