What would you do?

Phaelok

Hi all,
Around eight months ago I bought a kitchen through MFI on an interest free loan deal they were offering at the time. The amount is approx £4900 over 48mths. The first repayment is due next month and I have approximately £3000 set aside with the original intention being to make a lump sum reduction to the amount owing. As it is interest free I was considering putting the money aside in my account and top up my ISA to nearly £6k and gradually put as much money aside to put a deposit down on a property (eventually!!!!). I can easily afford the monthly repayments of around £100 a month and despite such low rates on ISA's generally, was wondering what you would do in my position.

Any advice is greatly appreciated

Thanks all and Happy Easter!

doodledo_2

Well if the MFI loan is definately interest free and you can cover the monthly payments I would put your money into a savings account/ISA and accrue interest.