Can i apply for a secured loan on my owned car as an asset?

Only at very high interest and from sub prime lenders. Don’t borrow in this way is all I can say and if a normal loan isn’t an option then you need to sit back and trim your cloth accordingly. Rebuilding your credit is vital and you do this by taking out a low limit sub prime credit card and pay the full balance every month by direct debit. It’ll take years, thus the reason why your credit rating should be protected at all costs if at all possible.

Quite right.

Some years ago, prime lenders tended to reject applicants who had taken payday type loans in the past, viewing the applicant as being in a situation of "financial distress".