<prompt> Human: My mom called me and stated she would like for me to cosign for an auto loan. I love my mom so I said yeah. I am also trying to get a house. I didnt even think about it when she asked me.I just received the paperwork today since I live in another state. The loan is 40000 with 18 interest. My credit score 615. Trying to get a VA loan which the minimum is 620. I already have 60k in debt thanks to student loans and some credit card debt. Not sure what I should do. Should I help my mom or tell her no.  <response>: Never cosign a loan. Never ever..- If your mom has to get an 18 auto loan, her credit is shot.- If your moms credit is shot, she is doing financially badly. Buying a new car at 40K is very irresponsible.- According to the statistics, there is a 3 in 4 chance that your mom will stop making payments and you will be on the hook for the entire amount.- Make no mistake, co-signing means you agree to pay if she doesnt pay, and there you will pay. Why not cut the chase and just buy the car yourself and give it to her as a gift? At least you will own the title and if the goings are tough, you can claim its possession and sell it.- When your mom doesnt make the payments, you will not know for several months and your credit will be shot unknowing to you. This always happens to all co-signers.- Oh did I mention this? You co-sign for an auto loan, most likely you make the payments, but you dont even get the car! Your mom will happily drive the 40K car on your money.Never cosign a loan. Give your mom 40K instead if you love her that much. 