TD Auto Finance

TD Auto Finance Review: In-Depth Review For 2020

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In the process of shopping around at dealerships for your next vehicle, have you received a financing offer from TD Auto Finance company? If so, you might be wondering who this auto loan lender is and if you can trust it.

TD Auto Finance is an indirect auto financing company. It is a subsidiary of one of America’s 10 largest banks, TD Bank. Consequently, the company has 1,300 branches along the East Coast and is part of the TD Bank Group. Overall, the parent company has more than $900 billion in assets and over 150 years of history providing financial services to businesses and consumers worldwide.

Let’s take a closer look at TD Auto Finance, and what you need to know before accepting its loan offer.

TD Auto Finance: Retail Financing

TD Auto Finance works with dealerships to finance vehicles for consumers. Its key selling points include competitive terms and rates, fast credit decisions, flexible options, helpful technology, and professional and reliable services. If you want to get financing through TD Auto Finance, you will need to find a dealer that has partnered with the company as it does not offer direct-to-consumer services.

Don’t want to go to a dealership? Find your best auto loan rate here.

Interest Rates

Their auto finance company offers simple interest financing. As a result, the finance charge is calculated by multiplying the daily interest rate by the number of days that elapse between payments on the principal. The rate you receive will depend on your personal credit history and income details, and it will be offered to you when applying at the dealership.

Learn how to get the best auto loan interest rates

Account Management

If you receive financing through TD Auto Finance, you can register online to manage your account. After doing so, you will be able to:

  • Make payments
  • View payment history
  • Sign up for automatic payments
  • Use the Secure Message Center
  • Review and edit your account information
  • View your statements online
  • View and print your payment history
  • Get a payoff quote

Online account management makes it possible to self-serve, so you don’t need to contact the company for issues that you can manage yourself. To register, you will need the following:

  • Vehicle identification number (VIN)
  • TD Auto Finance account number
  • Last four digits of your social security number or Federal tax ID number
  • Valid email address

After completing the registration, a confirmation will be sent to your email that contains a link which must be clicked within 48 hours. If you have previously had an account with TD Auto Finance but paid off the loan in the past 365 days, you will still be able to reuse that account. If it has been longer than 365 days, you’ll need to re-register with the new account information.

See the best auto loans for buying a used car

Customer Service

TD Auto Finance’s customer service department phone number is 1-800-556-8172 in the United States and 1-866-694-4392 for Canada.

Their hours of operations are Monday to Friday, 8:00AM to 10:00PM Eastern Time and Saturdays from 8:00AM to 7:00PM Eastern Time. If you are calling from Canada, their operating hours are Monday to Friday 7:30AM to 10:00PM Eastern Time and Saturdays from 9:00AM to 8:00PM Eastern Time.

Alternatively, if you are a registered user, you can log in to your TD Auto Finance account to send a secured message through their Secure Message Center system.

Payment Options

Their auto finance option allows you to make payments for the vehicle online, over the phone and in-person. Additionally, you can read of the ways listed to do so in detail below:

  • Online with your personal checking account
  • Online via BillMatrix with a debit card (must have the Star®, Pulse®, Nyce®, or Accel® logo)
  • Via mail using a money order, cashier’s check, or personal check
  • Online via an automatic payment deducted from a personal checking account
  • Over the phone at 1-800-556-8172  with a personal checking account or debit card (must have the Star®, Pulse®, Nyce®, or Accel® logo)
  • In-person with cash at a CheckFreePay location near you

Note that some of the payment options will incur extra fees.

Read FAQs about auto loans

Vehicle Pay Off

If you want to pay off your vehicle, you will need to either mail your payoff amount to TD Auto Finance in the form of a check or money order, or you can pay over the phone or at your nearest CheckFreePay agent location.

You can obtain a payoff quote online by logging into your account on the TD Auto Finance website and selecting “Payoff Quote” or by requesting it through the secure message center. Be sure to get a current 10-day payoff quote as it will likely differ from the estimate calculated on the date your statement was printed.

The vehicle’s title will be released 7-10 calendar days after the payoff payment posts to your account (or according to state law). The type of title you receive will vary depending on your state. It might be a paper title, lien card/lien release, electronic record, or electronic title. You can visit your local DMV website to find out which type you will receive.

Payoff Address

The valid mailing address to send an auto payoff is:
TD Bank Lockbox
TD Auto Finance – 16039
Mailstop ME2-074-017
6 Atlantis Way
Lewiston ME 04240

Should you pay off your auto loan as fast as possible?

Transfer of Equity Option

If you get into a situation where you cannot afford your auto loan, TD Auto Finance does have an option to transfer the ownership of the vehicle and the unpaid balance to a creditworthy transferee. The transferee must accept responsibility for the terms of the original agreement. But note, the transferor will still be liable for the full repayment even after transferring the equity. This option is also available in the case of the death of the contracted party or parties.


If your vehicle is repossessed, it is not necessarily final. You might be able to get the car back by paying your contract in full before the vehicle is sold. Further, you might be eligible to get the vehicle back and continue your contract (aka reinstatement). The company will make decisions on a case-by-case basis.

FAQ on TD Auto Finance

What credit bureau does TD Auto Finance use?

When considering a customer’s credit worthiness, TD Bank uses all three credit reporting agencies, which include Equifax, Experian, and Transunion.

Will TD Auto Finance defer a payment?

TD Auto Finance does offer the option of deferring a payment to those who qualify. Interest will continue to be charged on the outstanding balance, which will increase the term and final payment of your loan.

Is TD Bank and TD Auto Finance the same?

TD Auto Finance is a subsidiary of TD Bank, one of America’s 10 largest banks. TD Auto Finance and TD Bank are members of TD Bank Group (TD), which is comprised of the Toronto-Dominion Bank and its affiliates.

Does TD Auto Finance refinance?

Unfortunately, TD Auto Finance does not offer refinancing options at this time. To refinance your current auto loan, you would need to contact a third-party lender such as a bank or credit union.

Does TD Auto Finance accept credit cards?

No, TDAF does not accept credit cards for account payments. Customers have several options like pay online at, enroll in automatic payment, use an online banking application to schedule a recurring or one-time ACH payment or mail a personal check, cashier’s check, or money order, along with the payment coupon, in the envelope provided with the statement.

What is TD Auto Finance’s Flat Fee Program?

TD standard flat fee is 1% of the amount financed, not to exceed $500, for both new and used contracts. They also offer an Enhanced Flat Fee with details on our Program Highlights Sheet.

Will TD Auto Finance defer a payment?

TD Auto Finance does offer the option of deferring a payment to those who qualify. Interest will continue to be charged on the outstanding balance, which will increase the term and final payment of your loan.

Is there any penalty for a prepayment in TD auto finance?

Yes, TD Auto Finance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Do I need to be an existing TD Bank customer to qualify for a car loan?

You do not need to be an existing TD Canada Trust customer to apply for an auto loan with TD Auto Finance. Visit a dealership and ask for an auto loan with TD Auto Finance for a car, van, light duty vehicle, recreational product or marine product.

Can I temporarily delay a payment with a TD auto loan?

Yes, payments can be delayed temporarily so long as your account is up-to-date (meaning you haven’t missed your previous payment). You can notify TD Bank of the delayed payment online or by calling customer service.


Is TD Auto Finance the best for you?

TD Auto Finance is one of the top bank-owned auto finance companies in North America. Being so, it is well established and experienced in the financial sector.

However, as a consumer, you have the power to shop around and investigate numerous lenders to find the best deal. While you might visit a dealer and get a financing offer from TD Auto Finance, it’s smart to check with at least two other financing companies to compare the rates and terms.

SuperMoney’s auto loan engine makes it easy. After answering a few basic questions, you can receive competing offers from several third-party auto loan lenders. Then, compare your quotes against the dealer financing offer to see which deal is really the best.

Find your best rate now