If you’re looking at a $20,000 car and need to borrow $20,000 for that vehicle:
$20,000 (loan amount) / $20,000 (amount of the car) x 100 = 100% LTV
If you’re looking at a $20,000 car but have a down payment of $5,000, you will need a loan for $15,000:
$15,000 (loan amount) / $20,000 (amount of the car) x 100 = 75% LTV