How do you trade vehicles and vehicle loans with your friend for his vehicle and loan?

The lender owns the vehicle until it is payed for by the lender. The Primary lender will own the vehicle once it is payed for. It also depends on whose name appears on the title.

Not without a release from the loan company.

Probably not. You are on the loan, you do not own the car. Unless you are on the registration, you probably have no right to possession of the vehicle at all. Talk to the lien holder of the vehicle....

Not at all buddy!! Instead of doing so y don u get some student auto loans?? U can easily get it online also these days..

Call the bank that issued the loan.