Dealers rely on the stability and scale of TD Bank for consistent lending.
The bank’s streamlined system allows dealers to finalize sales quickly.
The program supports financing for a wide range of new and used vehicles.
Dealers are confident that their customers will be well-supported after the sale.
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Why Dealerships Partner with TD Auto Finance+
Auto dealerships in the U.S. choose their lending partners based on several key business factors. TD Auto Finance is a preferred partner due to its status as a large, stable North American bank, which ensures a consistent availability of capital for lending. Furthermore, their efficient digital platform for dealers simplifies the process of submitting applications and receiving credit decisions. This speed and reliability are critical for a dealership to provide a smooth and timely experience for its customers.
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The Application and Approval Workflow+
When a U.S. consumer decides to purchase a vehicle, they complete a credit application with the dealership’s finance manager. The manager then securely submits this application through a dedicated portal to a network of lenders, including TD Auto Finance. TD’s underwriting team reviews the application and returns a credit decision, often very quickly. If approved, the decision will include the specific terms, such as the Annual Percentage Rate (APR) and maximum loan amount, that the dealer can then offer to the customer.
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Structuring the Loan Contract+
Once TD Auto Finance provides an approval, the dealership’s finance manager uses those terms to structure the final retail installment contract. This legal document outlines the final sale price of the vehicle, the approved interest rate, the repayment term (e.g., 60 or 72 months), and the monthly payment amount. The finance manager presents this contract to the customer for review and signature, acting as the facilitator to finalize the loan that TD Auto Finance will fund.
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The Post-Sale Hand-Off to the Customer+
After the contracts are signed and the customer takes delivery of the vehicle, the dealership’s active role in the financing concludes. The relationship then transitions to a direct one between the U.S. customer and TD Auto Finance, who will service the loan for its entire term. The dealership’s responsibility is to ensure this hand-off is seamless, providing the customer with all the necessary information to create their online account and make their first payment.
Top Auto Loan Options in the U.S.
- TD Auto Finance – Offers dealer-sourced loans with fast credit decisions, flexible repayment options up to 96 months, and award-winning dealer satisfaction.
- Capital One Auto Navigator – Enables soft-pull prequalification and rate previews before you shop.
- Bank of America Auto Loans – Fixed-rate loans with soft prequal, 30-day rate lock, and loyalty perks.
- PenFed Credit Union – Recognized for low APRs via its member-only Car Buying Service.
- LightStream (Truist Bank) – Quick unsecured loans with no vehicle restrictions.
- Carvana Financing – Fully online purchase and financing, delivered to your door.
Dealer-Backed Lending with TD
TD partners with thousands of dealerships across the U.S., offering financing at the point of sale. You’ll receive fast credit approvals and work directly with a dealer’s Finance & Insurance office, combining convenience with credible bank support.
TD Auto Finance Loan Experience
Your loan through TD includes:
- Flexible term lengths—choose from up to 96 months for new or used vehicles.
- Competitive interest rates—while APRs aren’t listed online, dealers can offer rates tailored to your credit profile.
- Multiple payment options—use online, by mail, by phone, branch or third-party providers; AutoPay is available.
- Payoff and prepayment flexibility—make lump-sum payments anytime without penalty.
- Account management tools—online portal and mobile app help you view balances, set up recurring payments, and download statements.
Unsecured Personal Loans vs. TD Auto Finance
TD also offers unsecured personal loans, but vehicle-backed auto loans typically have lower interest rates and longer terms. Plus, TD’s auto financing is optimized for car purchases with dealer integration—unlike personal loans.
Buy Here, Pay Here vs. TD Auto Finance
Buy Here, Pay Here lots offer instant approval but commonly bring high APRs, lack transparency, and don’t always report to credit bureaus. TD Auto Finance, backed by TD Bank, ensures clear terms, regulated service, and full credit reporting—while still delivering dealer convenience.
How Auto Loans Impact Your Finances and Credit Score in the U.S.
- Dealer applications trigger a hard credit pull, so consider getting pre-approval from other lenders first. Multiple inquiries within 14 days are treated as one, limiting FICO impact.
- On-time payments build your credit and maintain a healthy Debt-to-Income (DTI) ratio, which is key for future loans like a mortgage.
- Skipping payments or making late payments may lead to penalties, higher interest costs, and hurt your credit score.
- Use TD’s digital dashboard, AutoPay, and flexible prepayment options to keep your loan on track and under control.
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