Caladia's Classy Camry
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,700.00 | Status: | Loan created |
| Grade: | B | DTI: | 13% |
| Lender Rate: | 8% | Borrower: | Caladia |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Sonic Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-09-08 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Sep 07, 2006 | Current |
| Jul 31, 2007 | Payoff in progress |
| Aug 03, 2007 | Paid |
|
It's GENIUS! I have a 2001 Camry. I would like to pay it off with a Prosper Loan. (I'm paying interest on this loan anyway, why shouldn't real people get that money instead of the bank?) Current balance on the car: $6700. Current monthly payment: $ 220. If I get a Prosper loan at 16% and use it to pay off my car, the monthly payment will be $235. (Yes, that's a little higher than it is now, but maybe the rate will get bid down a bit. Besides, wait 'til we get to the *genius* part!) Here's the GENIUS part: Current insurance payment: $120/mo. (The bank requires me to carry expensive coverage.) If I get a Prosper Loan to pay off the car, the new insurance payment will be $70. That's a savings of $50/mo. Even if the rate on the Prosper loan stays at 16%, that's still a net savings of $35/mo. Over 36 months, that's a savings of more than $1200. Genius. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 17015 | New Fence | B | $1,200 @ 9% | May 31, 2006 | Loan created |
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Discussion For This Listing
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