I got burned to the tune of $9,500 ($14.4K after interest) back in my early 20's, when I co-signed on a boat loan for a sibling. Three months later, he lost all interest in making the 10 years of $120.12 monthly payments, and I had to work two FT jobs for several years to pay for it.
On the bright side, I did get to take it out a few times while making those payments once I took possession of it...but had to sink
a few grand more into making that brand new boat useable again after he destroyed it from negligence with only 15 hours of run time on the hour meter.....