I personally wouldn't touch it. I would only consider co-signing on something that was a necessity not a luxury. Although you could argue that a vehicle is a necessity for some, I believe that a new vehicle is a luxury. If she don't have enough credit to buy a new vehicle, she should probably consider a used one.
If she needs a co-signer to by a $5,000 used vehicle, then maybe I would do it.
But this is just my opinion.
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