p2p lending at lending club
Payoff Car Loan To Sell Car
Homeownership Verified

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Listing Information
Amount: $10,000.00 Status: Withdrawn
Grade: C DTI: 25%
Lender Rate: 35% Borrower: Dalerus
Time Left: Finished State: WA
Funded: 1% Group: (No Group)
Purpose of loan:
We have an extra car that we no longer need, with the price of gas it makes no sense for us to keep this extra car. We want to sell the car, but find it very hard to sell without having the title in hand. So this loan would allow us to payoff the car and get the title in our hands. This loan should be paid off in a couple of months depending on how long it will take to get the car paid off.

Car details:

2006 Chevy HHR LS
66,000 Miles
Would sell the car for $10,000
We owe $15,000 on the car
We would take a loss on the car, we understand that, but with gas prices...

My financial situation:
We have the cash on hand to do this, but we don't want to risk paying off the car and having it not sell for 3 months. We just don't want to over extend our cash on hand for this.

Monthly net income: $ 5000.00

Monthly expenses: $
  Housing: $ 755
  Insurance: $ 150
  Car expenses: $ 0 <-Assuming we sell this car, otherwise $375
  Utilities: $ 200
  Phone, cable, internet: $ 100
  Food, entertainment: $ 200
  Clothing, household expenses $ 100
  Credit cards and other loans: $ 300 <-Student Loans + Another Prosper Loan
  Other expenses: $ 500

My extra income per month is about $2695, a lot of room to pay this loan.

Thanks for your time!
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