I noticed while playing that I could not make saves the same way I could on the old xbox version. Only the autosaves are available to load. If I start a new character will it autosave over my old one? I already beat the thieves guild so I was trying to avoid losing my khajit if possible.

thanks.

Can't you just click New Save and save your game that way?

Alternatively, if you would like to give the save a custom name, you can open the console by pressing ~ and typing "save [name]" (but without the quotes). (Why you can't type in a name when saving normally is beyond me; it's one of the changes in Oblivion that seems rather silly, along with the removal of the minimap.)

Yes, the autosave will ovewrite your previous character.
You would need to load your Khajit autosave and make a hard save as dtgreene suggested, before you create a new character.

Then I would suggest you disable Autosave altogether, along with not using quick saves, and only use hard saves.

For a number of reasons, the default autosave and quicksaves can cause crashing on saving, or corruption of saves, which in turn can lead to random crashing, or even reloading to find your character is dead.

Or you could use this mod https://www.nexusmods.com/oblivion/mods/47152?tab=description&BH=3
It will allow for quick saves and autosaves (every 5 minutes by default) and a auto hard save on level up.
But before it saves, it will check for conditions known to have caused the problems with the default saving system, and delay making the save until it is safe to do so.
Plus the Autosaves, and level saves will be kept separate for each character.

Those are all good points. when I tried to hard save it would not appear in my list of saves to load. I will give it another shot tomorrow. thanks.

Yes I am

I'm surprised to see that nobody has managed using a save manager until now. There are several of them available, I've been using the TES 4 Save Manager for many, many years.
Link: https://www.nexusmods.com/oblivion/mods/2342
(Note: The description says it's not maintained anymore, and people should use Wrye Bash instead, which is fine. I like the simplicity of the TES 4 Save Manager (I'm used to it), and it does work on my Win 10 PC.)
I guess all save managers work in a similar fashion: They create a subfolder for each character underneath the saves folder, you start the game by specifying the character you want to play (pick from the list), and then letting the save manager launch Oblivion, which shows you the saves in the selected subfolder only. Alternatively, you can create a new character, and the save manager creates a new folder, and launches a new Oblivion game. All saves of that session go the character folder you selected or created, including auto or quick saves.
If you already have a number of saves when you use the save manager for the first time, the simplest method is to create one subfolder per character manually, just like the save manager would (or you let the save manager create these folders by telling it to create new characters accordingly), and copy / move the save games for this character into the corresponding folder.
Basic, simply, and convenient (for me at least). Perhaps there are better solutions available meanwhile - I'm happy with the TES 4 Save Manager.
And there is no reason not use auto or quick saving, if you want to.

PS: I'm not using GOG Galaxy, and so I can't say how compatible such a save manager is with Galaxy. Using a save manager essentially means to tell Oblivion to use a different save folder, and possibly to launch Oblivion not directly via the standard short-cut. But if Galaxy doesn't mind launching Oblivion from outside Galaxy, there shouldn't be a problem (you have to tell the save manager, where Oblivion is installed, and then it uses the standard launch exe).