TD Auto Finance – Automotive Finance For Franchised Dealerships (2024)

FAQs

What credit score do you need for a TD Bank auto loan? ›

What credit score does TD Bank require for auto loans? TD Bank doesn't disclose its credit score requirements for an auto loan, but a lender's lowest APRs typically go to borrowers with very good credit scores (starting at a 740 FICO Score).

Is TD Auto Finance Good for Auto Loans? TD Auto Finance has an A+ Better Business Bureau (BBB) rating, but it isn't accredited by the company. It has a 1.1 out of five-star customer service rating on BBB as of May 2024 based on 268 reviews.

TD Auto Finance, a Division of TD Bank, N.A.

Lump Sum Payments

You can lower your payments and pay off some or all of your loan without penalty.

To qualify for a personal loan with TD Bank you should have a good credit score. This means your credit score should be 660 or higher.

This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.

We have the ability to offer solutions that may extend, defer, modify or adjust payments that are due to the bank. We strongly encourage you to call so we can discuss which option will best suit your situation. Call us at 800-222-5522.

In fact, TD Bank NA does not engage in subprime auto lending. Instead, most of its indirect auto lending is primarily made in the super-prime and prime spaces — and a small portion is made in the near-prime space.

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TD Bank's car loan interest rates in Canada typically range from 6.9% to 8.8% for both fixed and variable rate loans. The rate you qualify for depends on factors like your credit score, loan term, down payment amount, and the vehicle make/model.

Is TD Bank good for auto loans? ›

As of October 4, 2022, TD Auto Finance's Better Business Bureau (BBB) rating is 1.07 out of 5.00 stars. The company has a C rating from the BBB, as well—note that this rating isn't based on customer reviews but rather on how the company responds to complaints, its time in business, size and other factors.

What credit bureau does TD Bank use for approval? TD Bank typically pulls credit reports from Experian when evaluating credit card applications, but it could use any of the three major credit bureaus (TransUnion, Equifax, Experian).

TD Auto Finance doesn't have an exact credit score requirement for taking out an auto loan. However, most lenders accept the common credit score range between 550 and 850. Credit scores in the 700s or higher should get you a lower interest rate and better loan terms.

We are unable to refinance your current auto loan. However, we do offer our existing qualified customers an opportunity to purchase another vehicle. For a more accurate assessment, visit your dealer and ask for an auto loan with TD Auto Finance.

A credit score of 660 or better is required for a personal loan if you have a TD Bank checking or savings account. If not, a score of 750 is required. This review is not provided, commissioned or endorsed by any company. Opinions and ratings are our own.

In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan. However, the minimum credit score required with vary from lender to lender. As interest rates increase due to inflation, securing a subprime auto loan may be more difficult — but not impossible.

What are the credit limits for the different credit cards? The minimum credit limit is $500 with a maximum of $25,000 for the TD Cash Visa and TD Business Solutions Visa^® Cards. For TD Visa Signature benefits, the credit limit must be $5,000 or greater.