OK so I did some light googling because I used to dabble in bankruptcy law so I was just curious. Taking Giant as an example, they offer financing through a third party called Affirm. Affirm offers something called point-of-sale financing at a variety of retailers, it's basically installment financing. It's similar to a 0% introductory offer credit card -- make the regular payments and pay it off by a certain point or get hit with interest.

Relevant to this thread, point-of-sale financing is considered an unsecured loan, which means there is no collateral. Therefore, no, they will not be repossessing bikes. They will either engage in collection efforts, or more likely, sell the loan to one of those predatory outfits that specializes in trying to collect bad debt.

I only looked at Giant's financing scheme but given that, in the world of finance, bikes are small-ticket items, I would assume most bicycle financing schemes are similar.