TD Bank’s Low¬†Auto Loan Rates

TD Bank checking and savings account customers can take advantage of a cheap new-car loan, with rates as low as 3.79% on terms up to five years.

The promotional rate is much lower than the national average of 4.23% APR for 60 months, according to our most recent national survey of auto lenders.

The 3.79% rate is for 2014 or 2015 model year new cars and for customers who opt to have an automatic payment deduction from a TD Bank checking or savings account. If you prefer to skip the automatic payment option, expect the rate to increase by 0.25%.

If you borrow $17,000 for 60 months at the national average rate of 4.23%, your payment would be about $315. But if you finance $17,000 at TD Bank’s low rate of 3.79% APR for a 60-month loan, your payment would be about $311.

True, this discount is just a few dollars a month, but it adds up to $240 saved over the life of the loan.

That’s two-thirds of a monthly car payment saved just by going with the cheaper loan.

Use our auto loan calculator to help you figure what your monthly payment would be for a new car or truck.

For the lowest rates, you will need to have great credit, which means if your FICO score is lower than 700, you probably won’t get the best interest rates.

You can apply for a TD Bank auto loan online (, over the phone (800-937-5020) or at any of the bank’s 1,300 locations in 15 northeast, mid-Atlantic and Southeast states. If you get an auto loan from TD Bank, expect to pay an origination fee of $50.

Want to look some more before making a decision?

See the table below for the best auto loan rates from dozens of other lenders in your area to see if you can find a better deal.

Knowing about the bank’s auto loan rates before you go to a car dealership makes it much easier to judge any loan you’re offered by a dealership’s finance manager.

If he or she can find a lender willing to beat TD Bank’s rate, you’re getting a good deal. If not, you can go with TD Bank’s offer. Either way, you’ll know you’re driving home with a real bargain.