My sister wants me to take bank loan for her husband

Before I describe the problem, I have to state that this title is not as it sounds. I love my sister and she is very nice person, so is her husband. They are both really nice people who mean well. .Problem is, they both don't have jobs, they are in very bad situation moneywise.
Their car is old and falling apart and they want to buy a new one. Honestly, that car is a junk. But since they have no money they want to take bank loan (credit) to buy a new car. Bank won't approve loan without job so they asked me to take loan from my bank in my name so they can buy a car.
And here is the problem...
I HATE bank loans! I am honestly scared of them. In my opinion they make you slave for years and decades and maybe I am irrational because almost everyone takes loans, I just can't. Once I bought tv in 6 rates and I hated it! I was miserable until I payed it off. I just can't loan money from anyone, let alone bank. I never ever loaned money. I am single mom who lives on paycheck, lucky enough to be able to make a living for both of us and that is it. I never had a car. Everything I ever bought was with cash. I would save for months and years to buy furniture, appliances, everything. I go everywhere by bus, rarely taxi and usually by walk. The city is pretty small so walking is reasonable option. Usually, I get tons of groceries every day and bring them home. I always manage to get anywhere somehow. It's not always easy, but at least, I can walk a lot and that keeps me fit.
Now, they are asking me to take a loan for their car. I really don't want to but I feel guilty. They don't see loans as problem, and as most other people they loaned money many times. But I am not like that. Loan that big I would be paying for years, maybe even a decade. It scares me! I don't want that over my head.
What should I do? What would you do? Am I irrational?

Oh, no. If you can take bus, then they can take bus.

Whenever you loan money to a friend or relative, you have to think of it as a gift, not a loan.

Do you want to give them the money to buy a new car? Because when you take out a loan for them, that is what you will be doing.

If they don't have the money to pay back the bank, they won't have the money to pay you back either.

I agree with unuluna. If you can make do without a car as a single parent so can they. They want a car that bad then they can go get a job and save up. I’m on SSDI and I managed to save up for a car by doing without. It’s amazing how easy it was once I put my mind to it. It was a used car and I paid outright for it. But it’s all mine and I didn’t have to worry about monthly payments. I could have gotten a loan and gotten a newer car but like you I don’t want debt hanging over me. I got what was within my reach. I’d never ask someone I loved to go into debt for my wants.,

yes, I was thinking the same. I survived without car for 20 years as single mom, and I managed to get everywhere I wanted. Granted, it wasn't always easy, and it cost me some money, but it's doable. Especially when you live in very small town. If I could make myself to take a loan I would buy myself a car (I have license) long time ago, I would save myself so much time waiting for bus, getting up early, risking my health in flu times on public transport etc. And if you are without job and money, I am sure the car is not the first thing to invest into is not a car. I never loaned a penny from them but there was a time they had a lot of money and borrowed it to many people who never payed them back. Or even gave money to some people they thought they were friends. And now, somehow, I am responsible to help them? When I tell them they should save when they had enough but it's like they don't care about savings, which I don't understand. I have some small savings in case I lose a job and I don't want to give that. We need it to survive in tough cases.
But this makes me horribly guilty. Our mom is very sick, and deteriorates quickly so her point is they need a car to be there fast in case of need. It's mom's life, she says. DO you want to risk it? I don't know, I use taxi to get there, as anywhere but it's more expensive for them as they don't have income. They say they will pay me back but from what??? And bank loans tend to go with rates and that money I will have to pay back to bank will be much bigger than what I got.
What bothers me here is why people we love push us to do something they know we don't want to do? Why make us feel guilty because we are against it? Why should I be responsible for two adult, smart and capable people who decided never to save any money for rainy days? It turns out I am a bad guy here and I don't want to feel like a bad guy. I couldn't sleep tonight.

Because we worry about hurting our relationship with them and so we are more inclined to say yes. We are vulnerable to them.

No no no no no. If you had two cars, and they asked you for one, then maybe! But they are not welcome to burn your money as they burn their own.

If your mother gets sick, you can pay for a taxi for them. It will be much cheaper than buying them a car!

I agree completely with unaluna.

This is not a request you should give in to. People who are struggling and can't afford to pay their bills should NOT be going out and buying a new car. And they should not be asking YOU to put your own credit on the line for them to do this either. There are so many inexpensive USED cars for sale right now it's rediculous. It doesn't matter how nice these individuals are, it is way out of line for them to ask you to put YOURSELF on the line for them, especially in this challenged economy and that you are a single mom struggling yourself. In fact, this is a huge red flag that perhaps YOU are the one that is too nice and they are seeing you as a bank. This is most definitely NOT the time to be buying a new car when they are not working and clearly may not be able to afford the payments which YOU will end up responsible for. They would own the car and you would own the debt, NO WAY do not agree to this request. Not only that but they will want to put this "new car" in their name, while you are the one who is on the line for paying for it because you got the loan "for" them.

You have every right to say NO and if they get angry with you, then they are not as nice as you thought. Asking you to do this is out of line to begin with.

They are being ridiculous. Not working yet asking for loans. I don’t think so

Smart of you to stand your ground.

You’re not comfortable with it, that’s a large loan and yes, they could be paying you back for YEARS. Not only that, but do they have the money to pay the loan off each month?? No jobs, no new car, I say. Who buys a new car without a job? I would stand your ground and say no.

Do they need a new car? If they got new jobs and needed one for work, that would be a bit different, but even then they should take responsibility for that, not ask you. If everything is in walking distance they should be able to manage without if they’re able bodied. I think you’re right to not want to take the loan on, it’s a big financial responsibility even for smaller amounts.

They are playing the guilt card on you to get what they want. It’s not even logic. No they can use a taxi if they need to get to moms house fast. They say they have no money for taxi? Then how are they going to pay for oil, gas, other up keep of car plus insurance. No. They can get jobs. Stand your ground, say no.

I think they believe they will freelance for enough money to pay me back. But, I feel that is not responsible, it's too risky for me, and there are rates which should be payed too. I don't know why I feel so guilty, I would like to help, but I don't want loan hanging over my head for maybe 10 years. I am so stressed in general with work, my depression, child, lack of free time, anxiety and mom's disease, and many other things to have one more worry and source of stress. Yet, she was so casual about it. I think she thinks it's easy for me, I have a job for always, I was never unemployed, and I earn enough I could get that loan. She is also quite sure they will pay me back. But even if they do... 10 years of that! And it was never easy, never, I worked my butt off and worked sometimes so that we barely survived. I struggled a lot to be where I am now and even that is nothing to brag about. When you never worked you have no idea how tough that is, and it's easy to think we just sit in the office and get money for that. It's hard to explain that is not that simple, not even close. I am really tired, I don't want fight with her but I feel like me saying no to this, which I will, will cost me a lot. I am so tired...

So they can freelance now and save up the money for a car. If this is something they really want then they will do it.

You should not be feeling bad or guilty for saying no to this request. It was not a reasonable request what so ever. And if this does cause problems then this couple is not nice

This is one of the wisest principles to adopt in life.

Another piece of great wisdom!

And, when they leave you picking up the tab on the months that they don't have the money, that WILL NOT make them grateful to you. That will make them resent you. Sounds backwards, doesn't it? That is how their minds will work . . . because that is the kind of people that they are. Not just them. That is how most people are. (Even nice people.)

They are going to hate feeling like you have something over them. Oh, not at first. You'll be their hero for a few months. Then comes the BIG CHANGE. They'll start thinking of every way they can see you in a bad light. They'll think of how you practically owe them that car because of this, that and the other screwball reason. They'll start avoiding you. They'll start talking bad about you. If you want to turn then into enemies, getting that loan is the surest way to do it.

I have never had a car, ever. Life without one is not impossible. If you do this? Odds are that you will never be paid back. If you have a problem with your cash flow, YOUR credit will be ruined, not them. My advice? Don't.