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You won't go to jail. If the car is registered in your name, legally, it is your car. Your credit will be ruined for 7 years if you allow it to be repossessed. You will also pay the difference in what the lender sells the car for and the balance on the note, plus repo fees. I suggest you contact the lender and make some sort of arrangements. Don't let the car be repossessed. I'm guessing Grandma made the down payment and co-signed the loan and Junior promised he would make the payments. If so, both of their credit scores go down the drain. If only Grandma signed the note (unlikely if Junior's name is on the title) it will only show on her credit report.

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โˆ™ 2005-09-20 16:04:36
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Q: If your grandmother bought you a car and now the car note is behind and it is being repoed can you go to jail if it is registered in your name?
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