Newbie and camera question

Hi guys, newbie here with a question.

Me and a friend are in the process of making our movie. We're working on the script now, but we now need to look at cameras. I'm looking for a camera that shoots at 24p, possibly hd, widescreen, and most importantly it needs to be cheap. I'm open on formats, I've looked into them all and they all have pros and cons, but I'm looking for your opinion. Recommend a good format if you can, that matches what I'm looking for up post. My budget is $400-$600.

Any help would be appreciated, thanks very much.
 
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