This study presents statistical properties of the vehicle-to-vehicle Nakagami-Hoyt channel model with diffused line of sight (LOS) under isotropic condition. The envelope and phase probability density functions, spatial-time autocorrelation function, the power spectral density, level crossing rate, the average duration of fade, squared time autocorrelation function and mean-square error of time autocorrelation function of the Nakagami-Hoyt channel have been derived under the assumption that both the transmitter and receiver are mobile having omnidirectional antennas and a diffused LOS component is present. The model has been validated using the inverse fast Fourier transform-based simulator. The simulator and analytical results corroborate.