
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
TD Auto Finance, a subsidiary of TD Bank, doesn’t offer loans directly to borrowers. Instead, it can help you get financing through a dealership. This makes TD Bank more like a loan servicer than a direct lender. And unlike with many other banks, you can’t secure financing online before visiting the dealer.
If you choose this route, your payments will be made directly to TD Auto Finance. But everything else, like your APR and loan term, will depend on the dealership.
Although TD Bank has an auto loan of sorts, it pays to compare multiple lenders when making such a large purchase. These banks offer loans directly to borrowers, which means you’ll be able to walk into a dealership already knowing how much you can spend and what it will cost you.
LightStream, a subsidiary of SunTrust, offers competitive rates and flexible terms for borrowers with good to excellent credit. You may be able to finance up to 100% of your new or used car’s value — possibly even the same day you apply.†And its rate beat program offers a 0.1% discount off your APR if you find a better deal — provided the other lender’s rate meets certain requirements.§
However, unlike the other lenders on this list, Lighstream doesn’t allow you to check what rates you might qualify for before filling out a full application.
Bank of America allows you to finance both new and used cars — and refinance previous loans — all at a low starting APR. While you’ll need to have good to excellent credit to access the lowest rates and most competitive terms, Preferred Reward customers may be able to knock 0.5% off their APR.
Like TD Auto Finance, Bank of America has a network of authorized dealers to help streamline the buying process. However, there are some restrictions on where you can buy your vehicle and how old a used car can be.
Unlike many other banks, USAA offers more than just traditional auto loans. On top of its new and used car loans and refinancing options, USAA also has leisure vehicle loans that can be used to purchase an RV, motorcycle, boat or other leisure vehicle. These come with low starting rates and long terms of up to 180 months for certain vehicles. And you could shave 0.25% off your APR by signing up for autopay.
Like Bank of America and TD Auto Finance, it also comes equipped with a car buying service to make the process that much easier. But you’ll need to be a member of the military or a military family to qualify.
Yes, TD Bank has a few other options you may be able to use to finance a vehicle. The TD Bank Express Loan allows you to borrow up to $25,000. And TD Bank’s unsecured personal loans and lines of credit have competitive rates for amounts up to $50,000 — including a 0.25% rate discount for signing up for autopay. However, because these are unsecured, you’ll likely face higher rates than you’d find with one of the auto loan providers listed above.
TD Bank also offers a personal loan secured by your savings account, money market account or CD. This may mean more risk for you, but there’s no hard limit on how much you can borrow, and you may be eligible for lower rates than its unsecured counterparts.
Though TD Bank isn’t a direct auto loan provider, there are other banks out there you can turn to for fast turnaround, low starting rates or multiple financing options. You’ll likely need good to excellent credit to qualify for the best terms, though.
Find out how these lenders stack up to the competition with our guide to car loans.
Other lenders with higher approval rates can help — but only if you have the cashflow to support repayments.
Local options offer rates under 4% for well-qualified borrowers.
Ohioans have a large selection of banks and credit unions to borrow from.
Agriculture businesses and other local operations can benefit from a range of low-cost financing.
A Baltimore bank with a specialized financing program for lower middle market companies.
BCB Bank offers a substantial package of business financing in NJ and NY.
This Southside Virginia institution offers financing basics to startups and other small businesses.
A local Wisconsin bank with only two locations — but that has many loan options.
This Chanute-based lender serves farmers and other business owners in Kansas, Missouri and Oklahoma.
This North Dakota bank serves its community with a dedicated agriculture program and more.