I'm pretty sure your stuck. You are legally the co lessee and financially responsible if she defaults on the contract. Her credit / finances weren't good enough without you. They aren't going to let you off.
The only way to get your name off is to have the other party refinance the vehicle by obtaining a loan only in their name, here, the co-signer will have to sign the title releasing interest the vehicle or fully paying of the loan. You may also want to talk to a bankruptcy lawyer, see what options you may have in that regard.
Did the lender ask for a co-signer because your daughter has bad credit from previous defaults. Or just because she hasn't yet created a credit rating of her own? The lender wants two things from a borrower-ability to repay and willingness to repay. If they accept her in those particulars they may release you. But they will more likely play it safe.