Used Cars: take over payments, car, loan

Question
Aloha Ray!
I have a friend who wants to sell his car to his girlfriend of 10 years and she
was not able to get loan from the same bank because of the economy right
now and of course most financial institutes are lending the money.  She wants
to go to that same bank with the boyfriend and propose take over payments
with name transfer on loan.  Is these kind of transactions practiced a lot?  She
also wants to propose to the bank to keep same terms and conditions of
original contract in there behalf.  Because she has better credit than then
original buyer.  Do you think the financial institute would go for it just
because they will not have refinance the original loan for better rate?  And my
last question is if the financial institute does do take over payments for this
particular situation does the loan have to be in original buyers name?  Thank
you SOOOOOOO much for your time and answers!!  
Much Much Mahalos!!
Tiffany

Answer
E ku`u hoaaloha, Tiffany

What your friend is trying to accomplish sounds simple, but it's not going to happen.

A new contract will have to be put in place. I don't quite understand parts of your question, such as,  she
was not able to get loan from the same bank, and yet having a good credit rating ?

One suggestion, go to the same bank and see if they will draw up a new loan for the car, with the seller being a co-signer.

Pômaika`i!

Ray  http://www.usedcartips.org/