<prompt> Human: Hi everyone,This is my first time posting here so I apologize if I miss any information that would be helpful. Ive read through the FAQs and I wasnt able to find anything that completely answered my question, so Id appreciate some outside advice on this. My grandparents took out a car loan about a few years ago totaling 17,751 for a 2008 Chevy Cobalt with about 10,000 still on the loan. They got the car for my father who was going through bankruptcy and foreclosure at the time and had to move to a different state to be closer to them. At this point, neither they nor my father have the money to make the monthly payments about 250 a month and they have asked me and my husband to take the car and take over the payments, because we now make the most money in the immediate family.My reaction though, is that I think this car was a horrible idea to get and I dont really want to take on these huge car payments for a car thats only worth maybe 6,000 retail value. If they had asked me or my husband about this decision at the time, we would have told them the loan was egregious and they should have tried to find a cheaper car the car itself seems to have been about 11,000, and the fees from the loan added the extra 6,000. But, they are telling me if they cant make the car payments, the car will be repossessed but theyll still be liable for the loan payments - so it seems like our taking the car is the least bad of a bunch of not-so-great options.My question to you all is, should we take on this car and the payments? Is there a way to settle the debt for this car by showing the loan company my grandparents have no income? Are there resources for this kind of situation?Now the details:Grandparents finances: they are both basically living off of social security right now. They also have been taking care of my younger siblings long story... but their social security from my mothers death ran out this past June as the youngest turned 18. So I dont know what they bring in each month but Im betting its just enough to cover food and electricity. They wont share with us what their finances are really like, and honestly I feel like they dont really know themselves. For instance, when I spoke to my grandmother about the loan a week or so ago she had no idea what the monthly payments were... even though theyve been doing this for a few years.Dads finances: Also basically nothing. He lost his job at the deli a few months ago and has been doing some freelance work but has a rent of about 1000 a month, so he barely makes enough to cover that. He was making payments on the car for a little while but hasnt been able to for about a year.Our finances My husband and I make about 60,000 a year before taxes. Im a graduate student and he works in IT. However, we currently have lots of student loan and credit card debt about 6000 CC and about 80,000 SL because we made some poor choices in undergrad, which are coming back to bite us. So with a monthly income of about 3,600 our expenses are about:Credit cards: 550Student Loans: 650Rent: 1000Food: 500HuluNetflix: 16Health insurance through husbands paycheck: 200--so this leaves about 800-900 left each month, which we have been trying to save up or put toward our credit card debt. Loan details I forgot to add these before: It seems like the loan has a 15.49 interest rate yikes!, so the original amount financed was 17,751 including feesprice of the car, car was 11,000. The amount still left to be paid off is 10,276, so there would be at least 41 more payments left, not including the interest rate. So we technically could take on this extra car payment, but I worry about the fact that a we already have a fuckton of debt to our name, and b the loan still has 10,000 on it, so with 250 monthly payments we will still be paying off the car for several years. This also isnt including insurance and any repairs of course, since I know that they havent been able to take car of the car at all due to their lack of money.So, TL;DR: my husband and I technically have the means to take over car payments for my grandparents underwater car loan, but its a shitty deal and seems like it could really hurt us in the long run. But, my grandparents have no money and if the car were repossessed they would have no means to deal with the payments... and if they pass away, I worry about the debt inheritance. Im sorry to sound like a callous granddaughter here, but Do we have to should we take over these car payments or is there another way to help out our grandparents?Assistant: No. It isnt your loan. But, they are telling me if they cant make the car payments, the car will be repossessed but theyll still be liable for the loan payments - so it seems like our taking the car is the least bad of a bunch of not-so-great options.Thats not really true. If they cant make the payments, and the car is repossessed - thats it. They dont continue making payments after the car gets repossessed. Do we have to take over these car payments or is there another way to help out our grandparents?No. You dont have to do anything. IMO, the best thing you can do for them is convince them to sell the car.Human: Really?! Thats surprising, because they told me the bank said they would have to keep making payments. Is there a law or something I should tell them about?Thank you for your advice!!  <response>: The car would get repossessed and sold at auction. Whatever price it brings at auction would go towards the outstanding loan BUT if the money it brings isnt enough to cover the remaining loan amount they would still be responsible for the difference. 