If you have a car on finance or are leasing it then it is important to keep up with your regular payments. When a car is leased or financed to you, you do not own the vehicle (in the case of finance, you will own it when it is paid for in full). This means that if you fall behind with any payments then the company has the right to come and take the car away from you. This may not only be inconvenient but can also cause an adverse effect on your credit rating making it difficult to obtain credit in the future.
If your car is taken away from you then you may still be liable for the shortfall between what the car was worth when they reposed it and what the balance outstanding was on the finance agreement. If you are having trouble paying for a lease car or a car on finance then you need to ring the company immediately and speak to them to make arrangements to pay. If the car is leased then you may be able to get out of the lease agreement or have a different car that costs less to lease per month, making it more affordable.