[camaroguyBC]

i would say it's likely that even with 10k down you will probably have to get a co-sign given the current state of the economy and lending in general. 4 years ago (i was 21 too) i bought a new car for a similar price with a similar downpayment and still had to get a co-sign. And at the time I had a great credit rating and a 3 year credit/loan history on a prior vehicle. It was easier to get a loan then than now.

Not sure how credit unions work in your area (they seem to vary a lot), but the ones here usually offer amazing rates compared to the regular banks and even GMAC or Ford Credit, etc - and they are usually more willing to make loans. If you look around enough, you may find a credit union that offers special deals for first time auto buyers (some do this for auto and home buyers).

In the end the best thing you can do is lots of research. Check with your bank (ask to speak with their auto-loan agents). Be sure to mention you're a first time buyer to see if they have any special rates or what-not. And be willing to look to other banks / credit unions if they offer better rates / approval chances. You could likely have them run you through a pre-approval process to see how much of a loan you would qualify for (with and without a co-sign). That would give you some good numbers to know how much of a downpayment you're going to need at a minimum to A) get approved and B) get the monthly payments where you want them. Also, when you're checking around, find out if the bank/credit union offers lower rates if you have open checking accounts, etc with them. My credit union gives you 0.1% off the base loan rate for having a checking account, another for having a savings account, another for direct payroll deposit, another for having another loan with them, etc up to a max of 0.6% off the rate which can be huge.

Also, maybe I'm misinformed on this...but be careful about how frequently you run credit checks on yourself (especially the ones you have to pay for)...but I've heard that lots of inquires of your credit history can actually lower your credit rating since it's assumed that lots of inquires = lots of spending / loans.

Anyhow, good luck with whatever you end up doing. You seem to be off to a good start trying to save money to make a good sized downpayment vs. trying to pull off a full finance with $600+ monthly payments!