Pledging assets for down payment?

Has anyone heard of actually pledging the equity in an asset like a car, boat etc… to use as a down pmt. on a rental property? I’ve heard of it but haven’t seen it done. How is it usually structured? Any thoughts?

its called a UCC…easier to look it up than for me to try and explain it.

http://www.ernstpublishing.com/uccvsre.asp

Thanx. :biggrin