I am attempting to do this glitch myself, but for some reason the game can't run my save when I revert to 1.0/1.05, both of which are before the borrowing feature was implemented.
When the game was 1.0, the game didn't get past the GT Logo, at 1.05 GTLife ran, but got stuck, not able to maneuver the menus any.
If I go up to 1.06, the save can possibly run, but then the borrow feature will be implemented and won't work.
Help?
EDIT: Upgraded to 1.06, loads screen for like 1/8th of a second, screen CUTS OUT and re-loads constantly.