0/0/0 Borrower w/ $58k Income needs Auto Loan - Fully Vetted
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | E | DTI: | 7% |
| Lender Rate: | 17% | Borrower: | zboot |
| Finished | State: | FL | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-24 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
|
Hi, Thanks to everyone who bid on my last listing. In the time that I've been listing here, I have been working on improving my credit, keeping up with my payments. For more information on my vetting, budget, or to interact with me, click on the link below to look at my thread on the prosper forum. Click Here for my RML Thread I'm currently working full-time in Tallahassee FL. I was hired as an embedded systems engineer with starting annual of $58,000 which increases to $60,000 after my first 6 months. My pretax monthly income is $4460, after tax, $3500 I have the following debts (which are reflected in my credit score):
Assuming that I get this loan to purchase the car, I will incur new expenses of fuel and insurance. I will assume the initial costs of taking ownership, title, tax are covered by the loan. So, starting Jan 07, my monthly obligations are:
This is a total of $2938 in expenditures. My net income $3500 - $2938 leaves me $562 to use to pay back the loan in Jan and Feb. Starting in Mar 07, I will have $1712 available to put towards the loan. I realize that there is some risk in buying a used car. I've been conducting my search over the past two months and so far, have only identified 3 cars of the make and model that I want whose history and condition indicate low chances of having pre-existing problems. Despite all the planning I've done, I know there are still questions with my credit worthiness. I have learned a major lesson from my credit issues earlier this year. I am committed to becoming debt free by Sept 2007 and based on various scenarios I've run through calculators such as the debt advisor, this is a very real possibility. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 73288 | College Grad 2B with New Job Looking to Purchase Vehicle | E | $6,000 @ 16% | Dec 11, 2006 | Expired |
| 77187 | 0/0/0 Borrower w/ $58k Income needs Auto Loan | E | $5,000 @ 16% | Dec 22, 2006 | Withdrawn |
| 77207 | 0/0/0 Borrower w/ $58k Income needs Auto Loan | E | $5,000 @ 17% | Dec 22, 2006 | Expired |
| 343903 | Consolidate Debt to Single Loan and Improve Credit | D | $5,000 @ 35% | Jun 03, 2008 | Expired |
| 351353 | Loan to Fix Dead Engine in Car | D | $2,000 @ 27% | Jun 16, 2008 | Expired |
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