Use money from ISA or Loan NorthernMonkey1

#1
I'm going to buy a new motorbike in the next few weeks, and as I've been given a good trade in on the previous, I need to pay the balance of £6000.



I currently have £15k in a S&S isa, (vanguard lifestrategy 80 acc) so I have 2 options.



1) take the money out the isa

2) borrow 7k from HSBC @ 3.3% (their rate to borrow 6k is 6.9%) stick 1k into the mortgage and the rest off the bike over 5 years,



with option 2, im hoping that the stock market keeps climbing @ > 3.3%, as its been doing for a little while now. If it does, then option 2 is a better option



There is of course, option 3) don't buy a new motorbike, but that's bottom of the list for now

#4
Not been offered it before, but I've had a loan from HSBC before at that rate which was paid off early a year ago, so I'll probably get the same again. If I didn't I'd not accept the offer

#5



Option 4 - buy something safer with four wheels which will keep you dry and offer some protection against a crash.
Originally posted by jonesMUFCforever


I've got a car. It's excellent for sitting in traffic jams and taking rubbish to the tip. I've no need for another

#9
Then, assuming you get the 3.3% loan, send the £1k overpayment back there rather than onto your mortgage. Otherwise, you're borrowing at a higher rate to repay a lower rate loan.

#10



Then, assuming you get the 3.3% loan, send the £1k overpayment back there rather than onto your mortgage. Otherwise, you're borrowing at a higher rate to repay a lower rate loan.
Originally posted by ViolaLass


Alternatively, put the overpayment into the ISA and pray for a boom.

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