Some lenders will likely be keen to simply accept a car as collateral, so long as the value of the automobile is consistent with the amount of cash you wish to borrow. Borrowers will need to have a minimal credit score of 500-579 for max LTV of 90 % with a minimal down cost of 10 %. If permitted, your co-signer is equally on the hook on your payments and could take a credit score-rating hit if you do not observe by means of.