debt consolidation loan

I think the car company who financed your loan is already using your car as collateral. If you can't catch up with their repayment, they will try to sell it and recover the outstanding balance.

The debt consolidation company might ask for another type of collateral before approving the loan.

If you don't want to pledge your property, consider the debt consolidation program. Here you don't need to put anything as security for starting in the program. You will pay to the consolidation company every month and they will pay to the creditors. The repayments will be set according to your present financial position with lower interest rates and most fees waived off. Talk to a debt counselor to work out suitable options for you.