The defender has been linked with a move to Old Trafford but their former forward suspects a hidden agenda.
The defender is currently in contract negotiations with Real Madrid but the two parties are thought to be far apart in their offers with an agreement looking unlikely at present.
That has led to reports from the likes of the Daily Star of Manchester United being interested in signing the Spanish central defender, who would represent a significant improvement to their current squad but would come at a high price.
Cole though, believes a move is unlikely and Ramos is simply using United as a pawn in order to earn bigger money in a new deal at the Bernabeu.
“I think Manchester United are getting played by Sergio Ramos and his agent,” he wrote on Kicca.
“He’s a quality player but is he using Manchester United as a vehicle to earn more quid at Madrid? Nine out of ten people would say he is using United. Of course United are being played a bit. That’s just the way it has come around.”
A move for Ramos would sense for United, who are looking likely to be busy this summer as they look to strengthen their squad ahead of a return to the Champions League.
In particular, manager Louis van Gaal is thought to be looking for another forward and a defensive midfielder, while a central defender has been a long-term issue at the club.
A move for Ramos would make sense then given his pedigree, and Cole accepts they would be getting a quality player should they secure a deal.
“He’s a quality player,” he added.
“I watched him close a couple of seasons ago when Man United played Real Madrid in the Champions League and he was absolutely fantastic. Yes every now and then he loses the plot, but don’t we all?”