Some lenders will be keen to just accept a car as collateral, so long as the value of the vehicle is in step with the amount of money you wish to borrow. Debtors will need to have a minimum credit score rating of 500-579 for max LTV of ninety % with a minimum down payment of 10 percent. If authorized, your co-signer is equally on the hook for your payments and will take a credit score-rating hit in case you do not observe by way of.