Auto Loan for Your Vehicle

Borrow for the car you want, within your budget


A TD Auto Loan is secured by your vehicle, which offers you a lower interest rate than if it was unsecured

Benefits of an Auto Loan

Funds upfront
Get access to the amount you need to purchase the car you want within your budget, whether it’s new or used.
Interest rate options
Choose between a fixed or variable interest rate depending on what’s best for you.
Repayment schedule
We’ll help you create a repayment schedule with a term and amortization period that works for you.
Available for new and used vehicles (up to 7 years old)
A typical auto loan is between $20,000-$50,000. The minimum TD Auto Loan amount is $7,500.
Secured loans and lines of credit are secured against your assets (home, investments, vehicle, etc.), to protect the lender against any failure by you to meet your obligations. Because it’s secured you may get a lower rate or a higher credit amount.
Unsecured loans and lines of credit means the bank has not taken any security for the credit. Since the bank is taking more risk, the interest rate may be higher than if the loan was secured.
The interest rate stays the same for the time period chosen.
The interest rate changes whenever TD Prime Rate changes.
Loans are available with a variety of terms. The term is the length of your current loan agreement. Typically, terms range from 1 to 7 years and depends on age of vehicle. When a term ends, any balance you still owe can be repaid in full, or you may be offered a renewal term at current interest rate.
Amortization period is the length of time it takes to pay your loan in full, assuming the same interest rate and payment amount throughout. Shortening your amortization period can help you reduce interest cost over the period but it will also increase your payments.

What are my interest rate options?

Fixed Rate

Fixed interest rate stays the same for the term chosen. It’s ideal if you’re looking for set payments, and want to know exactly when the loan will be paid off. 

Variable Rate

Variable interest rate changes whenever TD Prime Rate changes. It’s ideal if you’re not worried about changing interest rates, and want to benefit when interest rates decrease. 

If interest rates decrease, more of your regular payment goes towards your principal, so you can pay off your loan faster.

If interest rates increase, more of your regular payment goes towards interest, and your amortization period will increase. Your regular payment may have to be adjusted periodically.

Have a personal consultation to discuss your options. Call 1 877 247 22651 877 247 2265

The amount borrowed or still owed –not including interest.
Amortization period is the length of time it takes to pay your loan in full, assuming the same interest rate and payment amount throughout. Shortening your amortization period can help you reduce interest cost over the period but it will also increase your payments

What you’ll need to bring

  • An idea of how much you want to borrow
  • Current address and previous address (if current address is less than 3 years)
  • Your income (sources and amount)
  • Your monthly mortgage or rent amount
  • Your monthly payments (loans, credit cards, lines of credit), and household costs (utility, property tax, insurance)
  • Bill of Sale before finalizing the loan

You may also be interested in:

Decide which loan is right for you

Get details on amounts, rates and more with a side-by-side comparison of all available TD loans
Compare

TD Loan Life and Disability Insurance

In case of the unexpected, get flexible protection for your loan obligations
Learn more

Get and Maintain Good Credit

We can help you establish, maintain, or recover your credit rating.
Learn more
back to top