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Weatherhead's R.L. Shankar discusses personal loan use

MEDIA | November 1, 2022
STORY BY: EDITORIAL STAFF
Can you buy a car with a personal loan?
U.S. News & World ReportR.L. Shankar, assistant professor of banking and finance at Weatherhead School of Management, said personal loans can be used for almost anything, but that doesn't mean you should use one for a car. What usually matters for approval is the borrower’s perceived ability to repay the loan, he said, not how the money will be used.