TD Bank Auto Loan Review 2022 – Forbes Advisor

TD Bank offers a wide variety of banking and loan products, including two types of loans that can be used to purchase a car.

Car loans

Auto loans are available through TD Auto Finance. Unfortunately, because TD Auto Finance is an indirect lender, it does not publicly disclose its interest rates, loan terms or requirements.

You can use the TD Auto Finance website to find dealerships in your area that have partnered with the company. If you’re interested in working with one of these dealerships, it’s a good idea to research your options with other lenders ahead of time so you’re prepared. Many lenders allow you to get pre-approved and check your custom rates with just a soft credit check that won’t hurt your credit. This will give you a basis for comparison with what the dealer is offering you through TD Auto Finance.

Personal loans

You might also consider a TD Bank personal loan for the purchase of a vehicle. These loans range from $2,000 to $50,000 and come with repayment terms of 36 to 60 months. If you are approved, you could receive your money in as little as one business day.

Unlike a car loan, an unsecured personal loan does not require collateral. However, because it is riskier for the lender, this type of loan usually comes with a higher annual percentage rate (APR) and stricter qualifications compared to a secured car loan.

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