Free Car Purchase Loan Proposal Template
Car Purchase Loan Proposal
Issued By:
[Your Company Name]
[Your Company Address]
Phone: [Your Company Number]
Email: [Your Company Email]
Website: [Your Company Website]
Issued To:
Trace Durgan
456 Elm Street
Atlanta, GA 30301
Phone: 222 555 7777
Email: trace@you.mail
Loan Summary
|
Loan Detail |
Amount |
|---|---|
|
Loan Amount Requested |
$25,000 |
|
Proposed Loan Amount Approved |
$25,000 |
|
Loan Term (Duration) |
5 years |
|
Interest Rate |
4.5% (Fixed) |
|
Monthly Repayment Amount |
$466.07 |
|
Total Repayment Amount (Including Interest) |
$27,964.20 |
Vehicle Details
|
Vehicle Detail |
Information |
|---|---|
|
Vehicle Type |
New |
|
Vehicle Make & Model |
2054 Toyota Camry |
|
Purchase Price |
$24,500 |
|
Down Payment |
$4,500 |
|
Trade-In Value |
$3,000 |
Loan Terms and Conditions
-
Loan Disbursement: The loan amount of $25,000 will be disbursed directly to the car dealership upon approval and completion of the necessary documentation.
-
Repayment Schedule: Payments will begin on January 15, 2055, and continue every month for the term of the loan.
-
Late Payment Fees: A late fee of $50 will apply for payments exceeding 15 days beyond the due date.
-
Prepayment Options: Borrower may prepay the loan without any prepayment penalty.
-
Insurance Requirement: Comprehensive vehicle insurance must be maintained throughout the loan term, with [Your Company Name] listed as the lienholder.
-
Additional Fees: An origination fee of $250 will be added to the loan amount.
Required Documentation
-
Copy of Government-Issued ID (e.g., Driver’s License)
-
Proof of Income (e.g., pay stubs or tax returns from the last 3 months)
-
Recent Credit Report (if not already obtained by [Your Company Name])
-
Vehicle Purchase Agreement/Invoice
-
Proof of Vehicle Insurance
Approval and Validity
This proposal is valid for 30 days from the date of issue. If accepted, the borrower must sign and return the loan agreement along with the required documentation for processing.
Authorized Representative:
[Your Name]
Loan Officer
[Your Company Name]
Signature: _____________________
Date:
Acknowledgment by Borrower:
Trace Durgan
Signature: _____________________
Date: _________________________
Contact Us for Assistance
If you have any questions regarding this proposal, please contact us at [Your Company Number] or email us at [Your Company Email].
