TD Bank Auto Loan Review: Is This Indirect Lender the Right Choice for You?

Before you commit to financing your next vehicle, consider what TD Bank’s auto loan program actually offers. TD Auto Finance handles lending through dealership partners rather than direct applications, which creates both opportunities and challenges. Here’s what you need to know before dialing their main line at 1-800-556-8172.

How to Reach TD Auto Finance: Your Direct Contact Options

If you decide to move forward with TD Auto Finance, here’s how to get in touch:

Phone Support: Call 1-800-556-8172 during business hours (8 a.m. to 10 p.m. ET on weekdays, 8 a.m. to 7 p.m. ET on Saturdays).

Online Access: You can reach TD Auto Finance through their website, though you’ll need a registered account to access useful loan information.

Mail Payment Address: TD Auto Finance PO Box 100295 Columbia, SC 29202-3295

What TD Auto Finance Actually Does Well

TD Auto Finance partners with dealerships across all 50 states to offer indirect financing. This dealership-based model gives them some genuine advantages:

Dealership Network Tool: They provide an online platform to help you locate participating dealerships in your area, removing the guesswork from finding a lender-approved car dealer.

Multiple Payment Methods: You’re not locked into a single payment approach. TD Auto Finance accepts online payments via checking accounts, debit cards (Star®, Pulse®, Nyce®, or Accel® networks), automatic payments, phone payments, mail payments (checks or money orders), and in-person payments at TD Bank branches using CheckFreePay®.

Flexible Loan Products: Beyond standard auto loans, TD Auto Finance offers unsecured personal loans for vehicle purchases. This means you could borrow more than the car’s purchase price and use excess funds for repairs, upgrades, or other expenses.

The Major Red Flags Most Borrowers Face

However, TD Auto Finance has significant issues that have generated considerable customer frustration:

Zero Transparency on Rates: TD Auto Finance doesn’t publish interest rates or loan terms on their website. You won’t discover your actual rate until after you’ve applied through a dealership and waited for approval. This makes rate comparison impossible before committing time to the application process. Different dealerships may offer different rates for the same borrower, creating inconsistency and confusion.

Overwhelmingly Negative Customer Feedback: The Better Business Bureau rates TD Auto Finance at just 1.03 out of 5 stars, based on extensive customer complaints. The primary grievances center on inadequate customer service, unexpectedly long loan processing times, and the bank’s reluctance to explain how rates are determined. On the BBB complaints board alone, 52 customer complaints were filed, with only four resolved—a troubling resolution rate.

Indirect Lending Creates Management Headaches: Because you must apply through dealerships rather than directly with the bank, loan management becomes complicated. Each dealership operates independently and sets its own terms. This fragmentation often results in confusion about your loan details, difficulty reaching the right person with questions, and inconsistent information across different dealership branches.

Understanding TD Auto Finance’s Two Financing Products

TD Auto Finance offers two lending products through dealership partners:

Retail Financing: This is the standard option available to individual car buyers. You apply at the dealership, TD’s finance team evaluates your application, and you receive approval or denial through the dealer.

Commercial Financing: Designed for larger operations like rental companies and multi-location dealerships, this product mirrors retail financing terms but includes additional services and tools for fleet management at scale.

Why TD Auto Finance Doesn’t Publish Its Rates

The company maintains intentional opacity around pricing. Rate information varies significantly based on multiple factors including your credit score, desired loan term length, the specific dealership you choose, and general market conditions. Because of this variability, TD Auto Finance argues that publishing rates would be misleading. The consequence, however, is that you must complete an application to understand the actual cost of borrowing—an information asymmetry that frustrates many applicants.

Why TD Auto Finance Remains Financially Stable Despite Customer Complaints

Despite poor customer satisfaction scores, TD Auto Finance benefits from its parent company’s rock-solid financial foundation. TD Bank was established in 1964 and ranks among America’s largest banking institutions by total assets. As a publicly traded company on the NYSE (ticker: TD), TD Bank maintains transparent financial reporting requirements. In 2022, Fitch Ratings awarded TD Bank an AA- Long-Term Issuer Default Rating and F1+ Short-Term rating—indicating extremely low default risk. This financial strength means TD Auto Finance is unlikely to collapse or fail to honor its obligations, even if customer service remains problematic.

Who Can Access TD Auto Finance and Where

Available in all 50 states plus Washington, D.C., TD Auto Finance technically has nationwide reach. However, geographic availability doesn’t translate to quality user experience. Multiple reporting sites document that TD’s online platform requires login credentials before providing useful information about loans or quotes. The website’s design and navigation have been criticized as clunky and unintuitive, making it difficult to locate critical information even after you’ve registered.

What Current and Past Customers Report About Their Experience

Overall customer satisfaction with TD Auto Finance is poor. Review sites consistently highlight a pattern: the website is unnecessarily complicated, customer service responsiveness is slow, and communication about rate determination remains opaque. The Better Business Bureau assigns TD Bank a C rating in its overall assessment, which weighs complaint history, years in business, and regulatory actions. While the BBB’s letter rating doesn’t factor in individual customer review stars, it reflects the cumulative pattern of unresolved issues.

Essential Questions About Auto Loans and TD Auto Finance

How do auto loans function? An auto loan is secured debt—the lender holds the vehicle as collateral. You make monthly payments over a set term (typically 3-7 years), and if you default, the lender repossesses the car. This collateral protects the lender, making auto loans accessible even for borrowers with less-than-perfect credit. To qualify, lenders typically require proof of identity (valid driver’s license or government ID), proof of income (pay stubs or tax returns), a debt-to-income ratio below certain thresholds, and a down payment of 10-20% of the vehicle’s purchase price.

What credit score qualifies for TD Auto Finance? The company doesn’t publicly state a minimum credit score requirement. However, most lenders work with borrowers in the 550-850 range. If your score falls in the 700s or higher, you’ll typically receive more favorable interest rates and better loan terms.

How do you check your loan balance with TD Auto Finance? Log into your account on TD’s website, navigate to the My Account tab, then click Payment History. You may need to submit a request through the Secure Message Center. Alternatively, visit the Statements tab, where you can view, print, or download your billing statement to confirm your balance.

How This Review Was Conducted

To evaluate TD Bank’s auto loan program, we assessed:

• The range of financial products offered and each product’s features
• Interest rates and loan terms relative to competing lenders
• Financial stability using credit ratings from agencies like Fitch
• Service availability and accessibility (customer service quality, online banking, branch access)
• Customer satisfaction based on review aggregation and complaint history
• Application difficulty, required documents, and processing timeline

Final Verdict: Is TD Auto Finance Worth Considering?

Based on this comprehensive evaluation, TD Auto Finance presents a conflicted picture. On one hand, the company benefits from TD Bank’s strong financial ratings and nationwide dealership network. On the other hand, negative customer experiences, rate opacity, and the complications inherent in indirect lending create genuine obstacles.

If you’re considering TD Auto Finance, we recommend calling 1-800-556-8172 to discuss your specific situation with a representative. However, we also strongly suggest shopping rates and terms with other auto lenders before committing. The lack of published rates means you may find significantly better terms elsewhere. Always read the complete terms and conditions before signing, and consider using auto loan comparison tools to evaluate your full range of options.

The key takeaway: TD Auto Finance may work for you if you value nationwide availability and flexible repayment methods. However, be prepared for limited rate transparency and potentially frustrating indirect lending processes. Compare multiple lenders to ensure you’re getting the best possible terms.