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Vaughn Barry - ArticlesAuthor Vaughn Barry is Credit Manager with the NewRoads Automotive Group and
NewRoads Credit. Vaughn is a former senior credit analyst with Canada’s leading special finance lender, a division of TD. He has since put his skills to work with the NewRoads Group of 6 dealerships and works hands on helping people get their credit back on track with bad credit auto loans... “Contact me anytime with questions! We’re here to help.” Understanding Your Credit ReportYour credit report is a snapshot of your credit history. It is a file recorded and maintained by credit reporting agencies such as Equifax Canada and Trans Union. Your report is created when your borrow money or are issued any type of credit card from banks, credit unions, retailers and finance companies. Among other things, how you repay these loans/cards with these institutions is reported regularly to the credit reporting agencies. Refinancing Your Auto LoanIf you’re currently in a high interest auto loan, pay attention! High APR car loans can be necessary at times because not everyone has great credit. Naturally you may have to pay a little higher interest as a result of past credit issues. Heads up… you shouldn’t carry these loans to full term. Bad Credit and Buying a CarNearly everyone is in the market for a vehicle at some point in their life. Driving is one of those freedom-feeling experiences we all enjoy! Tarnished credit can often put a damper on these types of experiences. If you’ve had credit problems, you can feel like life’s pleasures are out of reach. Buying a Car After a BankruptcyBankruptcy isn’t the end of the line, think of it as the beginning of a fresh financial future. There are several reasons why people enter a bankruptcy: marriage split, loss of income, illness etc. Car loans are a great tool for rebuilding your credit report.
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