Tevez has been linked with a move away from the club in British press recently, but Cole believes the Argentine would regret such a move.
Cole told MEN Sport: “I can understand he might be frustrated. I went through the same.
“I am not sure what he is really thinking. He might just say ‘I won’t sign the contract when the permanent deal is offered’. I don’t think he should do that, though.”
He continued: “I am in awe of Carlos Tevez; he is a world class striker. If I was him I would stick around. Stay and fight for your place and you will get plenty of matches – that’s my advice.
“There’s no place like it. Where do you go if you leave United? The only way is down. I was headstrong in my younger days. I made some impulsive decisions and it’s a major regret. [Tevez] should bide his time.”