Car financing

Borrower Member Loan 444464 | Lending Club Prospectus

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Amount Requested
Loan Purpose Car financing
Loan Grade A3
Interest Rate 7.74%
Loan Length 3 years (36 payments)
Monthly Payment $185.76 / month
Funding Received $5,950 (100.00% funded)
Investors 103 people funded this loan
Loan Status Fully Paid
Loan Submitted on 9/20/09 3:38 PM

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Loan Description

I have excellent credit and I am interested in obtaining a loan.

Questions & Answers

Q: Why aren't you using traditional banks for this loan? I'm sure you can find $6,000 for less than 7% with a 780+ credit score...
A: (09/21/2009-06:59) - I tried speaking with the bank that holds my car note and they were unresponsive. I tried taking a loan on my life insurance and they wanted 8%. My credit score is probably a little less than 780 somwhere between 760-770. I am also interested in testing the whole peer to peer lending idea.

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"Not only was my interest rate much lower, the process was so easy– all online with no need to physically go to the bank to fill out even more paperwork."