<prompt> Human: Ive had the IRA for over 5 years and I know you can only take out initial investments without any penalties. Im in an intensive medical program and currently without a car. My roomate says I need a car by May or Im not able to use hers anymore. My current situation leaves me without a job for the next 2.5 months. Ill be able to use my schooling to get a good and almost garuanteed job by July. Would it be wise to take out what I need for a beater car and then while I can, put money back into it? Does anyone know if there will be any penalties. Unfortunately Chase and other banks will not advise me and keep directing me to an accountant, who I dont have money to speak with. Thanks all. Im on mobile and new poster. Thanks for any responses.Edit Im on a 24 hours shift so Ill respond to any answers in the am. 7 hours  <response>: Youre probably better off taking out a car loan and paying it off quickly when you have a job. 