Most of the time, yes. If you let the car go back to the dealer after you buy it, you may wind up with no car and still be stuck paying for it.  If you stop paying and the dealer takes the car back, they have to sell the car. Most of the time it sells for less than you owe on it. You will owe the rest of the car payment. This means you have no car but you still owe money to the dealer or creditor.