Repossession of a vehicle

Although I do not practice law in the State of New York, here are my initial impressions.  Based upon your question, this is probably a civil, rather than a criminal matter.  In any event, if you fail to make your payments, you will expose yourself to civil liability in a collections proceeding to recoup the money that you owe, and you will also subject yourself to having your vehicle repossessed.  I suggest that you make your payments to avoid these, and perhaps other, consequences.