You can keep your car if you file for bankruptcy. If you owe money on the car, just continue to make the payments and you keep it. If you own a car outright, up to a certain value, you can protect the car. Even if the value is higher than what you can protect, there are still ways to keep it. Really, you're not going to lose your car unless you choose to let it go or you simply can't afford to make the payments.