Yes. Securing your loan with collateral or having a guarantor co-sign your loan may increase your chances of approval. You may also qualify for better terms and a lower interest rate. Keep in mind that with collateral you will never get a loan amount equal to the value of the item you use to secure your loan. The lender will need to recoup the cost of lending if you default on your loan, and so they will likely offer only a fraction of the value of your collateral.