Lease contract evaluation, how much should i be paying?

This is an under appreciated method IMO. It is what we do for our mortgage. We have a 30 year and pay it at slightly more than 15 year pace. Slightly more expensive on interest in our case. But if one of us loses a job etc we can still cash flow our life by backing down to the minimum payment.

 

I did a similar thing. I took a five year loan out but will pay it off in three. My extra payments go directly to principal. To do it this way you need to make sure you've got the right type of loan though.

I did the five year loan because one never knows what will happen tomorrow with this seemingly still uncertain economy. The crash of the economy has undermined my trust for good.