Brai is the founder of SW4 Insights, a public policy advisory firm based in Washington D.C. He has over a decade of experience as a journalist and consultant covering finance and economic policy, with a particular focus on distilling complex topics t.
Brai Odion-Esene ContributorBrai is the founder of SW4 Insights, a public policy advisory firm based in Washington D.C. He has over a decade of experience as a journalist and consultant covering finance and economic policy, with a particular focus on distilling complex topics t.
Written By Brai Odion-Esene ContributorBrai is the founder of SW4 Insights, a public policy advisory firm based in Washington D.C. He has over a decade of experience as a journalist and consultant covering finance and economic policy, with a particular focus on distilling complex topics t.
Brai Odion-Esene ContributorBrai is the founder of SW4 Insights, a public policy advisory firm based in Washington D.C. He has over a decade of experience as a journalist and consultant covering finance and economic policy, with a particular focus on distilling complex topics t.
Contributor Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
| Loans & Mortgages Editor
Updated: Jan 4, 2024, 7:41am
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Headquartered in Toronto, Canada, Toronto-Dominion (TD) Auto Finance was originally founded in 1964 as Chrysler Financial before it was acquired by and became a division of TD Bank in December 2010. TD Auto Finance is an indirect lender, meaning that instead of offering auto loans directly to consumers, the company provides financing via dealerships it has partnered with.
TD Auto Finance is an indirect lender, so it doesn’t publicly disclose its interest rates or loan terms. This makes it difficult to compare it to other lenders or to learn much about the application process before you set foot in a dealership. Our attempts to ask TD Auto Finance further questions regarding its rates and loan features received no response.
Alternatively, if you’d prefer to take out a personal loan without using the vehicle as collateral, TD Bank offers unsecured personal loans—known as TD Fit Loans—that could be another option to finance a car purchase. However, unlike auto loans through TD Auto Finance that are available in all 50 states, TD Bank personal loans are only accessible to customers in 15 states along with Washington, D.C.
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Interest rate starting at Loan amountTD Bank offers a wide variety of banking and lending products, including two types of loans that can be used to buy a car.
Car loans are available through TD Auto Finance. Unfortunately, because TD Auto Finance is an indirect lender, it doesn’t publicly disclose its interest rates, loan terms or requirements.
You can use TD Auto Finance’s website to find dealers in your area that have partnered with the company. If you’re interested in working with one of these dealers, it’s a good idea to research your options from other lenders ahead of time so you’ll be prepared. Many lenders allow you to get preapproved and check your personalized rates with only a soft credit check that won’t hurt your credit—this will give you a baseline to compare against what the dealer offers you via TD Auto Finance.
You could also consider a personal loan from TD Bank for a vehicle purchase. These loans range from $2,000 to $50,000 and come with repayment terms from 36 to 60 months. If you’re approved, you could receive your money in as little as one business day.
Unlike an auto loan, an unsecured personal loan doesn’t require collateral. However, because this is riskier for the lender, this kind of loan usually comes with a higher annual percentage rate (APR) and more stringent qualifications compared to a secured car loan.
Get up to 4 loan offers in minutes at myAutoloan.com.
TD Auto Finance doesn’t publish its eligibility criteria. While qualifications for an auto loan can vary by lender, here are some common requirements to keep in mind:
While TD Auto Finance doesn’t disclose fees, there are several common vehicle taxes and fees that you can expect to pay with a dealer purchase, including:
If you’d like to get an auto loan from TD Auto Finance, follow these steps:
If you’re turned down for an auto loan, reach out to the lender to see why your application was denied. Depending on the information you receive, you could:
As of October 4, 2022, TD Auto Finance’s Better Business Bureau (BBB) rating is 1.07 out of 5.00 stars. The company has a C rating from the BBB, as well—note that this rating isn’t based on customer reviews but rather on how the company responds to complaints, its time in business, size and other factors.
The Consumer Financial Protection Bureau (CFPB) has received 228 complaints regarding TD Auto Finance as of October 4, 2022. Most complaints were about billing problems, fee issues or problems with getting a car title following a loan payoff.
Get up to 4 loan offers in minutes at myAutoloan.com.
We reviewed TD Auto Finance based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated TD Auto Finance based on the weighting assigned to each category:
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges, applicable fees and available discounts. We also looked at minimum credit score requirements, maximum accepted mileages, whether each lender accepts co-signers or co-borrowers and the geographic availability of the lender.
Finally, we evaluated TD Auto Finance’s customer support tools, borrower perks and features that simplify the borrowing process—like online application options, mobile apps and turnaround time.
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