Does a Florida car dealer have the right to repossess a car if financing fails and if so can a sales rep repossess the car without being a licensed repossession agent?

Yes, in both circumstances. When you sign the contract it is pending approved credit. The dealership owns the car and figures it can get you financed by the banks but when that fails to happen the dealership still owns the car. You are just driving till the contract is bought by the bank. The Sales rep can and will get the car because it isn't being reposed. They own it and he is representing them in getting it back. Sorry it happened to you but it does happen out there