Pay all cash. That’s the only way.

If you involve the bank, they want ALL your information. No way around it.

Interesting, i guess as you said, i can be comfortable spending said amount on a “luxury” and thats exactly what this is. A luxury.

Ive been trying so hard to reframe it as a necessity (COPE) but this specific expensive car isnt necessary.

This helps me a lot with my decision making. Thanks!

I’d love to be making that much! Wife and I combined barely make 170

Is there anyway to accomplish what we're trying to do?

Always talk to your insurance company, not the other person's.

If you are in an accident, I guarantee your insurance card says to call and tell them.

You don’t by chance live in California do you? A lot of counties are considered disaster counties and you have 6 more months to pay without penalty. Not sure if other states have this as well. As others have said, try and work on that credit card

For real, I'm very curious to know what OP spends their money on to have $40k in CC debt and barely any savings/retirement while making nearly $200k a year. It's actually quite impressive.

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federal mileage rate for business miles is 65.5 cents per mile. Start a small driving business digital log your miles. Defer your tax debt and drive away the debt in mileage.

Thank you!

I started contributing around 2014, but not maxing until maybe 2018 or so (can’t remember exactly). No rollover from another account.

I focused on S&P500 index mainly for simplicity, not much strategy here.

ETFs that hold bonds tend to trade at a premium or discount to the NAV of the holdings. I guess you could call it basis risk. There is also the expense ratio to contend with (effectively a managed fee), but it is less work.

I don't know what the minimum amount of capital that you need to purchase a t-bill; however, with an ETF and fractional shares, capital wouldn't be an issue

You can say that about any purchase past a Toyota Camry, rice and beans, and clothes from Goodwill.

You can make this purchase without risking your financial health because of your parents covering you when your employment abruptly ends or if you can't find employment soon. Whether or not this is "worth it" is purely based on how much you value cars over other types of luxuries.

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Some forward steps for you, OP:

Read the wiki here. Learn about and implement some of the recommended retirement saving strategies. Start now.

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If you are in 35% bracket, you probably have the income to pay it off

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NO. The driver admitted fault, it should be going through their insurance not yours.

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Your rates go up is the best case. More likely you’re dropped as a client.

No, no you can’t. Medical expenses are a deduction not a credit. They can reduce the taxes you owe. They can’t generate a refund from paying no taxes.

Yeah youre reiterating well what i feel are the PLUS for buying this. Just feels bad having a net outflow of money with no inflow in the short term. Feels dumb buying a car especially if i wont need to drive it to work for a while(haha unemployed)

Thanks for your views and thoughts :)