When you signed your auto loan to buy your car, you used your vehicle to secure the loan. If you are unable to make payments, your car loan is at risk of default which could put your vehicle at risk of repossession.
After your vehicle is repossessed, the creditor will attempt to sell it to satisfy your loan and often the amount they recover will not be enough to satisfy the balance of your loan. One of the mistakes people make when their vehicle is repossessed is that once the vehicle is gone, they assume that the loan is paid. This is unlikely and the creditor may go to great lengths, even suing you, to receive the deficiency on the loan after the sale of your vehicle.