Since any map projection is a representation of one of those surfaces on a plane, all map projections distort. Every distinct map projection distorts in a distinct way. The study of map projections is the characterization of these distortions.
If you have the car as collateral, the loan company will take the car. The co-signer is not automatically put on the title, that would be between you and the co-signer. My father co-signed a loan when I was younger, and my name was on the title, not his.
As a co-signer, depending on the type of loan involved, you could end up with a collections action, a foreclosure, a lien or repossession on your credit report. You could also be sued. This array of risks underscore the fact that the decision to co-sign should not be taken lightly.