You only need a co-borrower or a loan guarantor if you can't fulfil the lender's requirements to qualify for a car loan. The main aspects considered are credit score, age, and monthly income. If all the requirements are duly satisfied by your side, then you can go ahead and apply for a car loan.However, you can also bring a co-borrower with whom you can divide the EMIs according to your understanding and pay off the debt quickly and easily.