<prompt> Human: My younger sister called me earlier tonight and wants me to cosign with her on a new car. According to her she can already make the payments but is currently being offered an extremely high interest rate. She was told that if she had a cosigner it could significantly reduce the interest rate. I, of course, want to help my sister however I can. But my wife and I have both worked very hard to get to a place of financial stability. We are both 24 and have paid off all of our student loans, cars, and we are currently renting and so have no house payment. I want to know what risks are associated with cosigning on a car? My sister is not the most reliable with money and while I am confident she will make all the payments I am not so confident that I will risk the financial future of myself and my family after all we have worked to secure ourselves. I have asked my sister to send me the following information: Her avg. monthly income, avg. monthly cost of bills, the exact monthly cost she can expect if she buys the car, and the interest rate associated with the car. Is there anything else I should be asking for?tl;dr My sister wants me to cosign on a new car with her and I want to help her out. But what risk does cosigning pose to me and my family?  <response>: Dont cosign unless youre prepared to make all of the payments. Youre on the hook for 100 of the debt and do not have claim to the property, should she stop payments. 