YES IT CAN. IF YOUI GO ON CLARKHOWARD.COM YOU WILL SEE FACTS ON SOMETHING CALLED A BAIL AGREEMENT. THATS WHEN A BANK SAYS THEY ARE FINANCING YOU AND YOU PUT DOWN A PAYMENT BUT THEY HAVEN'T REALLY APPROVED YO9U FOR THE LOAN YET. ITS BEST TO GO GET A CAR IN THE MORNING THAT WAY OU CAN TALK WITH SOMEONE AT THE FINANCING BANK. YOU CAN END UP OWEING THE DEALER OR THE BANK MONEY JUST FOR KEEPING THE CAR.
As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.
Yes, errors can keep you from financing the vehicle and they could take the car back if there is no financing. It is in your best interest to read the contract carefully and get full details on the changes made before signing a second time. If numbers have changed and they have upped the price, you can walk away.
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