Worker/Student Needs Help with Private Car Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 13% | Borrower: | tranbryant |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-18 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Oct 18, 2007 | Current |
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Purpose of loan: I am currently in the process of purchasing a Honda S2000 from a private party. This car is well maintained and about $2000 below Kelley Blue Book (KBB) private seller value. This is not only a great investment, but I can basically drive this car around for the next year or two and not have to worry about the depreciation of the car's value when I sell it. The reason I want to buy this car is because I feel that I am working very hard and I want to reward myself. My financial situation: I am 19, attending University of California, Irvine as an economics major. I am working full-time as an intern and going to school full-time. Not only do I have an "A" credit grade, but I do not owe any debts. I currently make $1500.00 per month after taxes WITH NO LIABILITIES. I do not pay any sort of rent, utilities, gas, books, or credit cards. I currently live at home, where my parents pay for everything, except for this car. The car I am currently driving is paid off and I will be selling the car for about $3000 to $4000 after I buy this car. Monthly net income: $ 1500.00 after taxes Monthly expenses: $ 350.00 Housing: $ 0 Insurance: $ 150.00 Car expenses: $ 150.00 Utilities: $ 0 Phone, cable, internet: $ 0 Food, entertainment: $ 50.00 Clothing, household expenses $ 0 Credit cards and other loans: $ 0 Other expenses: $ 0 Monthly payment Prosper bills to me: $500.00 My Monthly payment to Prosper: At least $1000.00 (Using Prosper.com's payment schedule, a 15.50% interest rate with a $14000.00 balance would mean I only pay $500 per month, but since I am paying ATLEAST $1000.00 a month, I would be paying off this loan twice as fast!) Estimated loan length: I would estimate around or less than 12 months, instead of the 36 months. To update from the previous listing, I am able to borrow $5,000 from family members so all I need left is $3,000. In addition, I found a 2003 Honda S2000 with 52,000 miles for the same price. Thanks for viewing my listing! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 204468 | Hard Worker/Student Buying A Used Car | A | $14,000 @ 16% | Sep 20, 2007 | Expired |
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