[quote=disneysteve]
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Amber - Can you clarify the van lease? Do you actually still have $30,847.80 in payments remaining, or is that just the original purchase price on which the lease payments were based? If your monthly payment is $435, you would be paying for nearly 6 more years for payments to total that much. That doesn't sound right to me.
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That is correct, it's the original purchase price on which the lease payments were based.
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How many actual payments remain in the lease term?
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60 more payments. We leased it for 72 months. And we've had it for exactly one year.
In going over all this with my Dh last night. He is unwilling to turn in the van for a used vehicle under 10,000. Not sure if that would really save us much to pay $5000 and then another $10,000 on a loan for a car. He would rather lease the van and save to pay cash when we go get our next vehicle in 5 years. This is going to have to be our compromise because he is not willing to get rid of the van.
His reasons are somewhat valid. He wants me to be safe driving with our three young children. He isn't always available say if something were to break down on the side of the road, he couldn't rush to us and help me. So I'd be stuck with 3 children. Plus we take trips back home almost every 3 months (to Indiana from North Carolina) so we need a reliable vehicle to get us back and forth.
I guess I need to save for the over mileage and other things regarding the vehicles.