My 2 cents. I say wait just a bit. You are almost there but not quite. My buddy finished his Maters in Engineering and went from 40K in EE to almost 80k as soon as he finished. It only took him a few more years and he was immediately more marketable. I would recommend you go this route.

Buying a 40k car with a 40k salary is insane. Do not do it!

For starters the car will initially be way overpriced just like the Thunderbird someone else mentioned. Give it a few years and once the bugs are worked out hopefully you will be in a good position to purchase one at a better price.