The disadvantage of using an interest only line of credit is the considerably longer time it takes to repay the loan in comparison to a traditional consumer installment loan.

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With an interest only line of credit, the borrower is only required to make payments on the interest accrued, while the principal remains untouched. This can result in a longer repayment period and higher overall interest paid compared to a traditional consumer installment loan where principal is paid down with each payment.

The Disadvantage of Using an Interest Only Line of Credit