Pay off our two Volkswagens - 3rd Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,875.00 | Status: | Loan created |
| Grade: | AA | DTI: | 16% |
| Lender Rate: | 7% | Borrower: | Utopia |
| Finished | State: | WY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-09 | EricsCC ROI: | 6% |
| Status History | |
|---|---|
| Sep 09, 2008 | Current |
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My wife and I are using Prosper again for an automobile loan. We have many other options to obtain funding including an open line of credit with our bank, a margin loan from our brokerage firm, or by selling our stock and mutual fund investments. However, we have been so happy with with Prosper, we thought we would go this route again! This loan will be used to pay off the two loans that we have on our two vehicles with Volkswagen Credit. The current payments on these two vehicles are: 1) Volkswagen Jetta - $475 2) Volkswagen Touareg - $765 Total = $ 1240 The reason that we are taking out this loan is two-fold. 1) To lower the payments to nearly one-third of what we are currently paying. 2) To obtain the titles to both vehicles to increase our insurance deductible (lower premium). My wife and I are both young prefessionals (29 and 32), and we have great jobs in the healthcare and finance/accounting fields. Our income is above average at over $180,000 ($120,000 is my income used for this loan) and we have a good amount of assets for our age. We have a humble home valued at $165k with $40K in current equity. We own 80 acres of land outside of our town worth an appraised $7,000 per acre (not liquid)We have over $125K in our retirement accounts. (not liquid) We have a savings acount with $15,000. We have a brokerage account with $65,000 in mutual funds. We save over $2500 per month in discretionary income. We carry zero balances on all credit card accounts. We are both extremely responsible, and neither of us have EVER missed a payment on anything.Thanks for looking in and we look forward to helping some individuals earn some better than average interest! Thanks for looking and thanks for bidding! Peace, P.T. Founder of Utopialoans.com and one of the first groups at Prosper.com If this loan does not have the interest rate bid down to a level that is comparible to our current loans, we reserve the right to pull this listing prior to its close. Thanks! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 2176 | Going to the Chapel..... | D | $10,001 @ 12% | Mar 16, 2006 | Withdrawn |
| 12123 | GE Washer and Dryer from Lowes | C | $1,500 @ 11% | May 08, 2006 | Loan created |
| 75481 | Prosper Group Leader helping to grow Prosper! | C | $23,000 @ 13% | Dec 17, 2006 | Loan created |
| 277214 | Contribution & Support for Barack Obama's Campaign -3rd Loan | A | $14,800 @ 13% | Feb 07, 2008 | Withdrawn |
| 277233 | Contribution & Support for Barack Obama's Campaign -3rd Loan | A | $14,600 @ 11% | Feb 07, 2008 | Withdrawn |
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