There has been extensive research done about a transcendental state of "time travel" as an out of body experience. Similar to remote viewing, but its being a part of the past in an observable way (kind of like Scrooge observing his past in A Christmas Carol), its called Astral Time Travel. If you're really interested in finding out the specifics of any research in this field and making your own decision of its feasibility, simply search for "Astral Projection" and you should find a ton of sites.
Palahniuk's novel focused more on the certain meditative state rather than the actual crashing of the car (rabies to dull the brain, driving to induce a self-hypnotic state, etc). Its not an idea new to fiction. Only Palahniuk extends beyond current theories of astral projection to make the time travel physical as well. Richard Matheson (I Am Legend, Stir of Echoes) wrote a novel called "Bid Time Return" in which a man travels back to the 19th century using his mind and meditation.
