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
- Repayment schedule
- 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.
What are my interest rate options?
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 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
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
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Decide which loan is right for you
TD Loan Life and Disability Insurance
How to Apply
Book an appointment
Meet with a banking specialist in person at the branch closest to you.
Our banking specialists are ready to answer your questions and can assist you in applying for a loan.