I live in north Carolina and last Wednesday purchased a used vehicle from a dealership. I used a cosigner and signed loan papers that same day. They requested additional info which I gave them Friday and they put temporary tag on car and issued registration. Today (05/09/12) they call and say finance company won't finance. What can I do? Need car for work.

First, return with the car, to the dealership and try to resolve the problems, before they get excited and contact police. I know of a person who did six months in a county jail in what appears to be a similar situation, although it was not in N. Carolina and laws may vary. I am not a lawyer but it sounds like it would be similar to a situation where a check bounces days after a transaction has occurred. I am not trying to make the situation worse for you, but your need for the car won't get much, if any, consideration if the financing fell through, which if you read the fine print on the paperwork probably cancels the agreement. Maybe you have other options but you said that the dealer wants the car back and I think that you had better address that matter first.