[revo]

...include purchase price of a vehicle? I leased a new vehicle about a year and a half ago and would like to purchase this vehicle. I have about $35,000 left on the mortgage and hope to pay it off in 5- 6 years, interest rate about 51/2. Payoff of the vehicle is about $20,000. Total monthly payment of car/mortgage combined is currently about $1200/month. Any wise financial persons out there?Possible/not possible? Good idea/bad idea? Advantages/disadvantages?Well, I guess what I was thinking was that I would be ablle to wirte off interest on my taxes. I still plan on paying off the house and car in 5-6 years. I know the lease is a bad idea, I was taken advantage of by a sleazy salesman.

[Hoa N]

It is possible with a HUGE equity in your home. But now , the bank has strict rule of lending they may not do it for you. Why don't you return the vehicle and purchase the new one with the same model.?A lot of new model out there.

[Fig Newton]

You can always refinance and cash out some of the equity of your home. Of course, it'll take longer to pay your home off if you do that. If you can "suffer" for a few years you'll have your house PAID OFF! That is totally awesome and you'll have plenty of cash to make a car payment if that's how you choose to blow your money. In my opinion it's a bad idea to purchase the leased vehicle.

[patton]

Like the others said you can refi and do this but why would you? You should take moeny from a asset (your home) and put it into a deprecating asset like a car. You are wasting your money and will never see it again.