{"id":772721,"date":"2019-04-05T02:35:27","date_gmt":"2019-04-05T06:35:27","guid":{"rendered":""},"modified":"2026-04-17T15:06:45","modified_gmt":"2026-04-17T19:06:45","slug":"td-bank-car-loan","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/td-bank-car-loan","title":{"rendered":"TD auto loan review"},"content":{"rendered":"

What is TD?<\/h3>

TD, or Toronto-Dominion Bank, is one of Canada\u2019s \u201cBig Six\u201d banks. It offers all the financial products and services you\u2019d expect from a major bank, including credit cards, mortgages, chequing and savings accounts, loans and a range of business banking solutions.<\/p>

Its range of lending products includes personal loans, lines of credit and auto loans. TD Auto Finance is a subsidiary of the bank and offers car financing at a network of dealerships around Canada.<\/p>

Is TD Bank legit?<\/h3>

TD Bank is one of the largest banks in North America. It was established in 1955 following the merger of the Bank of Toronto with The Dominion Bank, and it has roots going as far back as 1855. In Canada, Toronto-Dominion Bank provides banking products through its subsidiary, TD Canada Trust.<\/p>

TD has over 27 million customers globally and is traded on the Toronto and New York Stock Exchanges. And in the J.D. Power 2023 Canada Dealer Financing Satisfaction Study, TD Auto Finance was named the highest-ranked car financing provider in the non-captive non-prime lending segment for the sixth year in a row, and also finished second in the non-captive prime segment.<\/p>

Features of TD car loans<\/h3>
Feature<\/th>Details<\/th><\/tr><\/thead>
Loan amount<\/td>Dealership Vehicle Loan: No maximum loan amount
Private Sale Vehicle Loan: Up to $50,000<\/span><\/td><\/tr>
Loan term<\/td>Up to 84 months<\/span><\/span><\/td><\/tr>
APR<\/td>Varies<\/td><\/tr>
Serviced provinces<\/td>All provinces<\/td><\/tr>
Eligibility requirements<\/td>Must meet credit score and income requirements<\/td><\/tr><\/tbody><\/table>

What are the interest rates of TD car loans?<\/h3>

We couldn\u2019t find any TD car loan interest rates listed on the bank\u2019s website. However, the rate you get will vary depending on factors such as:<\/p>

  • Your credit score<\/li>
  • Your income<\/li>
  • The type of vehicle you buy<\/li>
  • Your down payment amount and how much you borrow<\/li>
  • Your loan term<\/li><\/ul>

    TD also says it is able to offer customers special car loan rates when you apply for dealership financing on the following vehicle brands:<\/p>

    • Chevrolet<\/li>
    • Buick<\/li>
    • GMC<\/li>
    • Cadillac<\/li>
    • Alfa Romeo<\/li>
    • Chrysler<\/li>
    • Dodge<\/li>
    • Fiat<\/li>
    • RAM<\/li>
    • Jeep<\/li><\/ul>

      What we like about TD auto loans<\/h3>
      • Lengthy terms.<\/strong> This allows you to pay back your loan over a period of up to 84 months<\/span><\/span> if you\u2019re buying a car, SUV, minivan or truck.<\/li>
      • Flexible payment plans.<\/strong> You can choose to pay off your loan in weekly, bi-weekly or monthly installments.<\/li>
      • Financing is available virtually anywhere.<\/strong> TD works with a nationwide network of dealerships across Canada to provide easy access to financing, while you can also get a car loan to buy a vehicle privately.<\/li>
      • No down payment.<\/strong> It\u2019s possible to get a loan without paying any money out of pocket to secure your vehicle, provided you meet credit score and income requirements.<\/li>
      • Fixed or variable.<\/strong> You can choose either a fixed or variable interest rate depending on your financial needs.<\/li>
      • Not just cars.<\/strong> TD Auto Finance also offers loans you can use to purchase motorcycles, RVs, ATVs, personal watercraft and snowmobiles.<\/li>
      • Lower credit scores are okay.<\/strong> You may qualify for a TD auto loan even if your credit score isn\u2019t good or excellent.<\/li><\/ul>

        What to watch out for<\/h3>
        • You may not be able to apply online.<\/strong> Some TD car loans are only available through a dealership, while some Private Sale Vehicle Loans (such as for a car less than five years old) are only available when you phone TD or visit a branch.<\/li>
        • Interest rates not listed online.<\/strong> TD doesn\u2019t list its car loan interest rates online, which makes it difficult to compare loan costs between lenders.<\/li>
        • Unclear fees.<\/strong> Despite TD having an auto loan calculator, it\u2019s not clear how much you\u2019ll have to pay in terms of service or administration fees. You may encounter additional fees and extra costs as you go through the loans process with your lender, depending on which dealer you go with.<\/li><\/ul>

          Alternatives to TD car financing<\/h3>
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