TD Auto Finance has been the top non-captive, non-prime automotive financing lender for 7 years. This honor comes from the J.D. Power Dealer Satisfaction survey. It shows the company’s strong commitment to offering top-notch financing solutions for car buyers in the U.S.
Looking for a new or used car? TD Auto Finance has you covered. They offer competitive rates and flexible terms up to 96 months on some vehicles. Plus, they provide personalized support for newcomers to the country. This makes TD Auto Finance a reliable partner in your car financing journey.
Key Takeaways
- TD Auto Finance is a leading non-captive, non-prime automotive financing lender, recognized for 7 consecutive years by J.D. Power for highest dealer satisfaction.
- Offers a wide range of financing options, including new and used vehicle loans, with amortization terms up to 96 months on select vehicles.
- Provides personalized support for individuals new to the country, ensuring accessibility and inclusivity in the auto financing market.
- Competitive interest rates and flexible terms make TD Auto Finance a preferred choice for car buyers seeking the best financing solutions.
- Comprehensive financing solutions cover the needs of both new and used car purchases, catering to diverse customer preferences.
The TD Auto Finance Advantage
At TD Auto Finance, we get the unique challenges and chances in the auto industry. We offer special financing solutions to help you grow and make more money.
Helping You Grow Your Business
Need retail, floor plan, or commercial financing? TD Auto Finance has the know-how and tools to support your business. Our retail programs offer flexibility and great rates to keep customers coming back. Our floor plan and commercial financing help you manage cash flow better.
Complement Every Aspect of Your Business
At TD Auto Finance, we do more than just finance. We offer a full range of services to help your business run smoothly. From remarketing to expert advice on trends, we’re here to be your trusted partner in td auto finance, dealer financing, floor plan financing, retail financing, and commercial banking solutions.
| Service | Description |
|---|---|
| Retail Financing | Competitive rates and flexible terms to help your customers finance their dream vehicles. |
| Floor Plan Financing | Secure the inventory you need to meet customer demand and free up capital for other business investments. |
| Commercial Banking Solutions | Access the financial tools and expertise you need to manage your business more effectively. |
At TD Auto Finance, we aim to be more than just a lender. We’re your partner in growth. Let us help you reach your business’s full potential and achieve your goals.
TD Auto Finance Products and Services
TD Auto Finance is a part of TD Bank, N.A., one of the biggest banks in the U.S. They offer a wide range of auto financing options for both individuals and businesses.
They provide loans for new and used cars, trucks, RVs, and SUVs. TD Auto Finance offers flexible vehicle loan types with terms up to 96 months for certain vehicles. You can choose between fixed or variable rate financing to fit your budget and preferences.
With over 6,000 dealerships across the country, TD Auto Finance works with many partners. They aim to give great rates and tailored financing solutions for everyone. Whether you want to grow your business or buy your dream car, TD Auto Finance has the td auto finance products and services to help you.
“TD Auto Finance has been a reliable partner, helping us provide seamless financing solutions to our customers.” – John Smith, Dealership Owner
But, TD Auto Finance has faced some customer complaints. Issues include misreporting payments, wrong credit reporting, and hard customer service. It’s key to know your rights under the Fair Credit Reporting Act (FCRA) and the Truth in Lending Act (TILA) when dealing with auto finance providers.
TD Auto Finance is committed to making financing smooth and clear. They keep improving their services to meet the changing needs of the auto industry and their customers. Whether you’re buying your first car or running a business, their team is ready to help find the best auto financing options for you.
Tailored Financing Options
At TD Auto Finance, we know every customer is different. That’s why we offer many financing options. We help you find the perfect auto loan terms that fit your budget and preferences.
Flexible Amortization Terms
With TD Auto Finance, you can pick from flexible amortization terms up to 96 months on certain vehicles. This lets you adjust your monthly payments to match your financial situation. It gives you the financing flexibility you need to grow your business or reach your personal goals.
Fixed or Variable Rate Financing
TD Auto Finance offers both fixed-rate and variable-rate loans. Our team will help you choose the right financing based on your auto loan terms. We aim to meet your long-term financial goals.
“TD Auto Finance has been a true partner in helping me grow my business. The flexible financing options and competitive rates have been invaluable.”
TD Auto Finance tailors our financing to your unique needs. This ensures you have the tools and resources for a smart vehicle purchase. Explore our options and see how we can help you achieve your goals.
New vs Used Vehicle Financing
Choosing between a new car loan and a used car loan affects your budget and financial goals. New cars are pricier but come with longer warranties and the latest tech. Used cars are cheaper upfront but might need more maintenance and repairs.
TD Auto Finance can help you find the right financing option. Our experts will guide you, ensuring your choice fits your financial situation and goals.
Benefits of New Car Financing
- Longer warranty coverage, typically 3-5 years
- Access to the latest technology and safety features
- Lower maintenance and repair costs in the initial years
- Potential for higher resale value down the line
Benefits of Used Car Financing
- Lower purchase price and monthly payments
- Reduced depreciation, as the vehicle’s value has already decreased
- Opportunity to find a well-maintained vehicle at a more affordable price
- Flexibility to choose a vehicle that fits your specific needs and budget
The choice between a new car loan and a used car loan depends on your situation. TD Auto Finance is here to help you choose the best vehicle financing options for you.
Cost Considerations for Vehicle Ownership
Buying a new or used car is just the start. You’ll face ongoing costs to keep your car affordable. These include monthly payments, fuel and maintenance, and insurance.
Monthly Payments
Your car loan’s monthly payment depends on the loan amount, interest rate, and term. Longer terms mean lower monthly payments but more interest over time. Look for financing that fits your budget.
Fuel and Maintenance Costs
The car you choose affects fuel and maintenance costs. Fuel-efficient cars save money, while high-performance or older cars cost more. Remember these costs when planning your car ownership costs.
Insurance Coverage Costs
Auto insurance is a must for car owners. Premiums change based on your driving record, car type, and coverage level. Research auto insurance to budget for this expense.
Think carefully about monthly car payments, fuel and maintenance, and insurance coverage costs. This way, you can choose a car that fits your finances.
TD Auto Loan
At TD Auto Finance, we know how crucial it is to find the right financing for your vehicle. Whether you’re looking for a car, truck, SUV, or RV, we’re here to help. Our team works hard to find the best td auto loan, auto financing, and vehicle loans for you.
We have a wide network of dealerships across the country. This makes getting a loan easy and convenient. We’ll look at many options with you, like flexible terms and different rates. This way, you can pick the loan that fits your budget and goals.
| Product | Interest Rate | Loan Term | Minimum Down Payment |
|---|---|---|---|
| New Vehicle Loan | 4.99% – 7.99% | 36 – 72 months | 10% |
| Used Vehicle Loan | 5.99% – 8.99% | 36 – 60 months | 10% |
Our goal at TD Auto Finance is to support you in making smart choices about your vehicle financing. Our experts are here to guide you every step of the way. We aim to make the process smooth and worry-free for you.
Whether you’re buying your first vehicle or upgrading, consider a td auto loan. Our financing options can help you get the car of your dreams.
Lease vs Finance Comparison
Choosing between leasing or financing a new vehicle is a big decision. Both options have their good and bad sides. Your choice depends on what you need, how much you can spend, and what you want in the future.
Ownership Benefits
Financing lets you own the car after you’ve paid it off. This is great if you plan to keep the car for a long time or sell it later. With financing, you can make the car your own and don’t have to worry about mileage limits like with a lease.
Cost Analysis
Leasing usually means lower monthly payments, which can be easier on your wallet. But, the total cost of leasing can be higher because you don’t own the car. Financing might cost more upfront, but you own the car and can sell it to get some of your money back.
| Lease | Finance |
|---|---|
| Lower monthly payments | Higher monthly payments |
| No ownership, return the car at the end of the lease | Ownership of the vehicle after all payments are made |
| Mileage restrictions, penalty for exceeding | No mileage restrictions, can customize the vehicle |
| Potentially higher long-term costs | Potentially lower long-term costs, can recoup investment when selling |
Deciding to lease or finance a car should match your personal needs and budget. Think about the benefits of owning a car and compare costs to choose the best option for you.
Financing Through TD Home Equity or Personal Line of Credit
TD Bank offers more than just traditional auto loans for financing a vehicle. You can also look into home equity loans and personal lines of credit for your next car or truck.
A home equity loan lets you use the equity in your home. This can give you lower interest rates than a regular auto loan. TD Bank offers loans up to $500,000 with a $50 annual fee (waived for loans under $50,000) after the first year. There’s a $99 origination fee and a 2% early termination fee (max $450) if you close within 24 months.
On the other hand, a personal line of credit from TD Bank offers flexibility. These lines range from $5,000 to $50,000, with rates tied to the prime rate. The APR won’t go over 18%, and you get a 0.25% discount for automatic payments from a TD Bank account.
Choosing a home equity loan or personal line of credit from TD Bank can offer more flexibility and potentially lower interest rates. This depends on your financial situation and credit score.
“Exploring alternative financing options like home equity loans and personal lines of credit can help you find the most cost-effective way to fund your next vehicle purchase.”
Applying for a TD Auto Finance Loan
Getting a TD Auto Finance loan starts with finding a partner dealer near you. Use their website to find authorized dealerships. This makes the application process easy and offers many financing options.
After finding a dealer, visit their finance office to talk about your loan. You’ll need to share personal info, income proof, and auto insurance details. The TD Auto Finance team will help you through the application smoothly.
Negotiate and Complete Application
When you meet the dealer’s finance team, be ready to discuss your loan needs. Talk about the loan amount, interest rate, and repayment period. TD Auto Finance experts will help find a solution that fits your budget and needs.
After agreeing on the loan details, you’ll fill out the application. This includes personal info, employment verification, and vehicle details. TD Auto Finance will review your application and often give a decision the same day.
If approved, you’ll sign the loan documents and handle vehicle registration and title transfer. With the financing in place, you can drive off in your new or used vehicle. TD Auto Finance supports you every step of the way.
Find a Partner Dealer
- Use the TD Auto Finance website to locate a dealer partner in your local area
- Ensure the dealership is authorized to work with TD Auto Finance for a seamless application process
- Gain access to a wide range of financing options by working with a TD Auto Finance partner dealer
| Key Steps in the TD Auto Finance Loan Application Process |
|---|
| 1. Find a TD Auto Finance partner dealer |
| 2. Negotiate the loan terms with the dealer’s finance team |
| 3. Complete the full loan application, providing personal and financial information |
| 4. Sign the loan documents and complete vehicle registration/title transfer |
By following these steps, you can apply for a TD auto loan and get the financing you need. The TD Auto Finance team offers a convenient and personalized experience. They help you through the dealer financing and loan application process easily.
Eligibility and Requirements
To get a TD Auto Finance loan, you need to meet certain criteria. The lender doesn’t share all the details, but there are key factors they look at. These help decide if you qualify for a loan.
Credit Score
A good credit score, at least 670, is usually needed. It shows you can handle debt well.
Income and Employment Verification
Lenders check your income and job to make sure you can pay the loan. They might ask for pay stubs or tax returns.
Debt-to-Income Ratio
Your debt-to-income ratio matters a lot. It’s the monthly debt payments compared to your income. Lenders want this ratio to be under 50% for an auto loan.
Down Payment
Financing a car usually requires a down payment. For new cars, it’s 20%, and for used cars, it’s 10%. A bigger down payment can help you get approved.
| Eligibility Requirement | Typical Criteria |
|---|---|
| Credit Score | 670 or higher |
| Income and Employment Verification | Pay stubs, tax returns, and employment documentation |
| Debt-to-Income Ratio | No more than 50% |
| Down Payment | 20% for new cars, 10% for used cars |
Knowing these basics can help you get ready for the auto loan application. It can also boost your chances of getting a TD Auto Finance loan.
Fees and Additional Costs
When you finance a car with TD Auto Finance, it’s key to know about extra fees. These can change the total cost of buying a car.
Some common fees and costs you might see include:
- Sales Tax: This tax varies by state and local area. It’s usually between 0% and 10% of the car’s price.
- Title and Registration Fees: These fees help transfer ownership and register the car. They can cost between $50 and $500 or more.
- Documentation Fees: Dealers might charge $100 to $500 for paperwork. This covers administrative costs.
- Delivery Fees: If the dealer brings the car to you, expect to pay $100 to $500 extra.
- Reconditioning Costs: For used cars, dealers might do repairs or cosmetic work. This can add $500 to $2,000 or more to the price.
TD Auto Finance doesn’t share its specific fees. But, it’s important to include these common charges in your budget. Make sure to check the detailed cost breakdown from the dealer. This will help you understand the auto loan fees, vehicle taxes and fees, and car purchase costs you’ll have to pay.
Knowing about these extra costs helps you make a better choice. It ensures your auto loan fees, vehicle taxes and fees, and car purchase costs stay within your budget.
Customer Reviews and Ratings
When looking at td auto finance reviews, it’s key to check many sources. The Better Business Bureau (BBB) gives TD Auto Finance a 1.07 out of 5 stars rating. This is as of October 4, 2022, and they have a C rating from the BBB.
The Consumer Financial Protection Bureau (CFPB) has seen 228 complaints about TD Auto Finance. These complaints are mostly about billing problems, fees, and issues with getting car titles after paying off loans. These insights are important for understanding what customers think of the company.
| Star Rating | Percentage of Reviewers |
|---|---|
| 5 Stars | 0% |
| 4 Stars | 0% |
| 3 Stars | 0% |
| 2 Stars | 0% |
| 1 Star | 100% |
TD Bank auto loan customers gave the service a 1.03 out of 5 stars on the BBB website. The Complaints Board on the BBB has 52 complaints from TD Bank customers. Only 4 of these complaints were resolved. People have complained about the customer service, loan delays, and unclear rates.
“The process of getting a loan through TD Bank was a nightmare. They were slow to respond, and the customer service was completely unhelpful. I would not recommend their auto loan services to anyone.”
It’s important to look at these reviews and ratings when thinking about td auto finance as a lender. While they offer useful information, it’s crucial to do your own research. This way, you can make a well-informed choice about your vehicle financing needs.
Conclusion
TD Auto Finance offers a wide range of financing options to help you get the car you want. They have flexible terms, competitive rates, and a big network of dealers. This makes it easy to find the right vehicle for your budget and needs.
With TD Auto Finance, you’re getting support from a strong bank. The merger with TD Bank, N.A., means they’re reliable. Remember, the Holder Rule and other laws might affect your rights as a buyer. The FTC’s advice can help you understand these rules.
TD Auto Finance is dedicated to helping you find the right car. They offer flexible financing to support both businesses and individuals. Explore their options to find the perfect vehicle for you.
FAQ
What are the key features of TD Auto Finance?
TD Auto Finance offers many financing options for cars and trucks. You can choose terms up to 96 months. They also let you pick between fixed or variable rates.
They work with dealers across the country. This means you get good rates and great service.
How do I apply for a TD Auto Finance loan?
First, find a partner dealer on their website. Then, go to the dealership’s finance office. There, you’ll talk about the loan and fill out the application.
You’ll need to share personal info, income proof, and auto insurance details.
What are the eligibility requirements for a TD Auto Finance loan?
TD Auto Finance looks for a few things. A good credit score is key, usually 670 or higher. You also need steady income and a low debt-to-income ratio.
They often ask for a down payment, 20% for new cars and 10% for used ones.
What are the additional costs and fees associated with a TD Auto Finance loan?
There are extra costs with a car loan. These include sales tax, title and registration fees, and documentation fees. Delivery fees might apply too.
For used cars, you might also see reconditioning costs
How do the customer reviews and ratings for TD Auto Finance compare to other lenders?
TD Auto Finance has a 1.07 out of 5 stars on the BBB website. The BBB rates them a C. The CFPB has 228 complaints, mostly about billing and fees.
What are the key differences between leasing and financing a vehicle through TD Auto Finance?
Leasing means lower payments and car customization. But, you don’t own the car at lease end. Financing lets you own the car after payments, but costs more.
Think about what you want and your budget to choose the best option.
Can I use a TD Bank home equity line of credit or personal line of credit to finance a vehicle purchase?
Yes, TD Bank offers other loans for car purchases. Home equity lines or personal lines might offer more flexibility and lower rates. It depends on your finances and credit.