Auto Loan
Borrow for the car you want, within your budget
A TD Auto Loan is secured by your vehicle, that will provide you with a lower interest rate than if it was unsecured.
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Funds upfront
Get access to the specific amount you need to purchase the car you want within your budget, whether it’s new or used.
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Interest rate options
Choose between a fixed or variable interest rate depending on what’s best for you.
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Repayment schedule
We’ll help you create a repayment schedule with a term and amortization period that works for you.
Typical auto loan amount is between $20,000-$50,000
- A TD Auto Loan is available for new and used vehicles (up to 5 years old)
- Minimum TD Auto Loan amount is $7,500
What are my interest rate options?
Expand Fixed Rate
This rate stays the same for the term chosen.
- Ideal if you are looking for structured payments, and want to know exactly when the loan will be paid off
Expand Variable Rate
This rate changes whenever TD Prime Rate changes.
- Ideal if you are not concerned with changing interest rates, and want to benefit from times 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
Ready to apply?
Our banking specialists will help you with any questions you might have.
What you’ll need:
- An idea of how much you want to borrow
- Social Insurance Number (optional)
- 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)
- Household costs (utility, property tax, insurance, etc)
- Bill of Sale before finalizing the loan
- Subject to the terms of your Overdraft Protection Agreement.