TD Bank, N.A. is an American national bank and one of the ten largest banks in the United States. The Federal Office of the Comptroller of the Currency services and charters TD Bank, the successor to Portland Savings Bank, which was founded in 1852. Its parent company is the Toronto-Dominion Bank and its headquarters are in Cherry Hill, New Jersey.
TD Bank helps people obtain accounts and financing for checking accounts, savings and money markets accounts, credit cards, home equity loans, small business loans, personal loans and lines of credit, prepaid debit cards and mortgages. TD Bank also finances your new or used vehicle through its flexible and competitive consumer personal loan options.
How Can I Finance a Car Through TD Bank?
If you have a credit score of 680 or above, you may borrow from TD Bank through the following programs.
- A TD Express Loan for $2,000 to $15,000 can be yours in just 48 hours.
- A Personal Unsecured Loan can give you a lump sum payment from $2,000 to $50,000
Expect to pay an 8.99 to 14.99% interest and APR Rate for these programs based on your credit score and the prime rates indicated by the Wall Street Journal.
Highly qualified borrowers may apply for a Personal Unsecured Line of Credit with a TD Savings or Money Market Savings account or a TD Certificate of Deposit as collateral. It is a flexible option to give you cash to put towards a new or used vehicle, with money left over for other expenses. This option gives you the flexibility to obtain financing for a vehicle before you visit dealers and shop around. Terms are:
- Borrow from $20,000 to $50,000.
- Expect an APR of 8.75% to 18%.
- Earn a .25% rate discount with payment deduction from a TD Bank personal checking or savings account.
- The loan origination fee is $50.
- Pay an annual fee of $25.
For all programs, interest rates are determined by credit score. Loan terms may extend from 12 to 60 months.
What States Does TD Bank Offer Loans In?
You can apply for a loan from TD Bank in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C.
How Do I Apply For an Auto Loan Loan with TD Bank?
You may go online or contact their Financial Solutions Group Specialists 24/7 by at 800-YES-5020 (800-937-5020). They will help you determine what lending option works best for the type of vehicle you wish to finance. In order to apply, you will need to document:
- your Social Security number,
- a list of your expenses, including mortgage payments, rent and other debts,
- proof of current income including bonuses, overtime and income for other sources,
- and your full employment history.
After these documents are examined to calculate your eligibility, you can expect to hear from a loan representative in one day.
TD Bank’s Online Loan Payment Center allows you the convenience of a one-time transaction to guarantee you pay your loan on time without having to visit a branch. You will need your loan number and the last four digits of your Social Security Number. You may also set up convenient automatic deductions from your checking or savings account and pay over the phone.
What Makes TD Bank Better Than Other Auto Loan Lenders?
TD Bank’s flexible programs and competitive rates grant its clientele the convenience to finance a vehicle on terms unique to them. You can visit a dealer empowered with financing for the vehicle of your choice with little to no restrictions. If you can stay below budget for a new vehicle, you may just have money left over to tackle other necessities in your life.