Secure operation of electric power grids fundamentally relies on their dynamical stability properties. For the third-order model, a paradigmatic model that captures voltage dynamics, three routes to instability are established in the literature: a pure rotor angle instability, a pure voltage instability, and one instability induced by the interplay of both. Here, we demonstrate that one of these routes, the pure voltage instability, requires infinite voltage amplitudes and is, thus, nonphysical. We show that voltage collapse dynamics nevertheless exist in the absence of any voltage instabilities.