Relist* Getting Rid of a Vehicle, eliminating a 700 payment
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Withdrawn |
| Grade: | C | DTI: | 25% |
| Lender Rate: | 20% | Borrower: | mozartsghost |
| Finished | State: | OH | |
| Funded: | 3% | Group: | (No Group) |
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**First of all, Thank you to everyone who bid on my previous listing, I have increased the interest rate to show I am serious about getting this loan to sell my truck. I also set this listing to auto-fund. ** Purpose of loan: To pay down my Ford Excursion in order to sell the vehicle and eliminate the $700 per month payment. I have a buyer for the vehicle but need to pay down the truck by approx $8,000 dollars in order to get down to it's actual value thanks to gas prices... Any excess from the loan will be re-invested into prosper so I can "pay it forward" and return the help I recieved.. My financial situation: By Eliminating my vehicle payment I will free up over $850 per month, (Insurance and payment), (Pre-Prosper loan) My Credit Score is a bit low thanks to some poor choices about 5-7 years ago. When I was Just out of high school I ran up a bunch of debt, and paid the price with my credit rating... I learned from that mistake and paid everything off but the reminder of that bad time remains on my credit report. If I simply paid my minimum balances each month and paid my bills I would have $700-$800 left over, With this loan and the sale of my truck this should increase this excess to over $1000 per month while taking on the $330 prosper payment. (I will have the prosper loan automatically taken out of my checking each month) Some of that excess I plan to use to help others here on prosper... A little more about me: I am a Regional Performance Improvement Supervisor with Con-way Freight, It is similar to a Solutions Engineer or Compliance Manager position. I have a work provided vehicle which I drive 90% of the time and I have a 98' BMW which I use as my weekend vehicle (It is paid off with clear title) Basically the excursion was my toy truck but my lifestyle has changed and I no longer have the need for it and can't justify the large payment for something I drive once a month... My current vehicle loan is 4 years left to pay at Approx 700 per month... I owe approx $23,000 on the truck and I was able to find a purchaser for the vehicle for $15500, which is about the actual retail on the truck... If I pay down the vehicle to 15500 I can sell it to him and eliminate my $700 payment for 4 years and convert that into $330 in 3 years As well as eliminating $150 in insurance costs) I am newer to prosper and am just getting my feet wet on the lending side but I plan to become an active lender as well as a borrower. My household expenses are very low as I am a single guy who travels 5 days a week, The company pays for my meals/expenses while traveling so the only time I spend money on myself is the weekends, as a result my non-fixed expenses are quite low... Monthly net income: $ 3400 (The change from my previous listing: Annual raise and I estimated low on my original listing) Monthly expenses: $ 2700 (The bulk of the balance goes into savings or paying down my excursion and home loan) Housing: $950 Insurance: $160 (150 for my excursion and 10 for my other vehicle) Car expenses: $700 (excursion payment, Other vehicle paid off) Utilities: $200 Phone, cable, internet: $100 Food, entertainment: $150 Clothing, household expenses $100 Credit cards and other loans: $240 Other expenses: $100 If you have any questions please don't hesitate to ask!! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 236604 | Looking for loan to eliminate car payment | C | $9,000 @ 10% | Nov 24, 2007 | Withdrawn |
| 239041 | Looking for loan to eliminate car payment | C | $9,000 @ 18% | Nov 28, 2007 | Expired |
| 251095 | I don't want to have to pay a big corporation for this Loan! | C | $9,000 @ 18% | Dec 16, 2007 | Loan created |
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