Consider how long you'll be in school vs. the part-time job you'll have. I've seen many examples of people taking out car loans and going to school at the same time. They just burn themselves out. As said before, you could get a beater car, go to school and work at the same time. That extra money you save would make a nice down payment or even buy the car you want outright.

Just keep in mind that **** happens and if you default on the loan, it'll ruin your chances for the house. Also depending on the car you get, go easy on the mods for insurance reasons. Other things tend to break or wear out, causing more bills.