A girlfriend of mine was talked into co-signing her friend's car loan. I guess her friend had bad credit for a reason. Three years later the problem surfaces when her friend stops paying her bills. I'm going to skip over the details to make a long story short, the girlfriend ended up paying thousands of dollars for a car she never got to drive because her friend defaulted and got the car reposessed. You see, that girlfriend of mine knew she was going to need to buy a car partially on loan within the next year, and she would not be able to get a good loan if her credit report said she defaulted on a car loan. So, she ended up paying her friends debt off to save her own credit. What a rip off!!!!