No. No lender is going to touch such a weird deal, because it breaks all their risk models.
Further, it doesn't work like that. The usual bad outcome is blam, suddenly there's a rather bad mark on your credit report. It's completely out-of-the-blue. Some days later you'll get a nasty letter in the mail. The damage is done. It turns out your friend stopped paying at least 60 days ago; today, the damage is done. You're just now hearing about it.
You think "Well surely, I can pay some money and get that removed" - nosirree. The mark is indelible, for the most part.
"They wouldn't mark my report, would they?" Oh, yes.
You think "Well surely, they will give me 30 days notice that I need to start covering the note". Yeah, they did at the time you cosigned the loan, they told you when all the payments would be due. In writing.
You think "Yeah, but I mean, I'm not going to make every payment pre-emptively on the off-chance my buddy doesn't pay! We would double-pay 99% of the time! Surely they must be responsible somehow for signaling that my friend is late and I better cover it!" No, they're not responsible for that. You and your friend are responsible to work it out between yourselves.
You think "No problem then, my friend will warn me if he can't pay." Um....
... More likely than not, your friend is now estranged to you, precisely because he can't pay and feels terrible about it. The impact to your credit reports is the last thing on your mind, and he puts off telling you (or interacting with you at all) until things melt down.
End of friendship, of course.