I owe more on my car than it's worth. My friend is willing to trade &...

...assume the note. How do we do this? I bought a used car a little over a year ago. I now find myself in the middle of an unexpected move out of state, and need to cut down on my monthly expenses, so I wanted to try to get rid of my car. Obviously, I owe more on the car than it is currently worth, and I’m pretty sure my credit isn’t that great, so I’m weary about taking out a personal loan at a credit union to make up the difference in the amount so I can sell the car. I have a friend that is looking to upgrade his vehicle, and is willing to trade me his old, paid off car and take mine, assuming the debt and payments himself. Is there any way to do this? Can you transfer the car note over? Any help would be greatly appreciated!

You can't just "transfer the note" to your friend.

Your friend needs to get approved on a loan himself, then purchase the car outright from you. Don't let them just "assume the payments", as this will only lead to trouble.