You agree to purchase a car for $$3,000($paid today$)$ plus a loan in the amount of $$35,000$ payable over $48$ months at a contractual rate of interest of $5\%.$ Your payments will be due monthly, at the end of the month. The competitive price of the car is $$36,500$ and your personal competitive market rate of interest $($for the risks you pose as a borrower$)$ is $6\%.$

How much value did you destroy in the transaction? $($In other words, by how much did you overpay?$)[$Show your answer in dollars and cents; do not round interim calculations; if you come up with a negative amount, show with a minus sign$]$