If you sign on a loan, you're responsible for the payment if nothing happens. Its your credit that's on the line and your credit that will be affected by the outstanding debt.

I know not everyone's a Christian, but the Wisdom of Solomon is worth some observation and he said, "A man void of understanding shaketh hands in pledge, and becometh surety in the presence of his friend." Surety is the same as co-signing. It wasn't a good idea 3000 years ago, it's not a good idea today.

If your parents don't have a vehicle at all or have one that runs poorly, it may be worth your while to help them find a dirt cheap used car. If they have money to make payments on a new car, in the matter of 2 or 3 months, they should be able to save up $1000-$1500 to buy something decent used. If they just want a nicer car, then really you're not under obligation to help them.

-That's my thing, keeping the faith, baby-Joe Friday

The Screwtape Reports

for your advice!