TD car loan calculator online in 2025. How to figure out a car loan yourself?
TD Bank Group consists of Toronto-Dominion Bank and its subsidiaries in Canada and the USA. It was established in 1955 in Toronto.
Worldwide, it serves 26 million customers and has more than 90.000 employees. TD ranks as the leading global online financial services company, with more than 15 million online and mobile customers. One of TD’s key business lines is Canadian Retail, including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing, and TD Insurance.
TD Canada Trust is TD Bank Group's personal and small business financial services for more than 13.5 million customers in Canada.
There are TD Canada Trust lines of credit and personal loans, loan insurance, mortgages, credit cards, chequing accounts and savings accounts, personal loan and line of credit payment calculator, and other options. For example, a TD Canada Trust line of credit is a way to finance a car.
Business Banking provides services with the assistance of banking specialists who understand the business-specific financial situation and deliver customized solutions. Products and services to Canadian companies of all sizes across various industries include financing, deposit, investment, cash management, commercial mortgages, international trade, and foreign exchange.
TD Wealth and TD Direct Investing solutions provide investors with financial products like brokerage, mutual funds, financial planning, personal assistance, and management on an integrated basis.
TD Insurance gives access to auto insurance, home, health, life, and travel insurance, TD Protection Plans, motorcycle and recreational vehicle insurance, and business credit life insurance.
TD Auto Finance offers new car and truck, RV, marine, power sport auto loans, small business vehicle lending, the TD Wheels mobile app, and the TD Bank vehicle loan calculator.
To get an Auto Finance dealership car loan:
Overview your budget and financial needs, then visit an authorized automotive or dealership from a partnership network to ask for financing through TD Bank.
Download the TD Wheels app. It lets you search for and compare different cars to find your dream vehicle and will guide you through the car buying process or apply online. Visit the dealer with some select vehicles to test drive.
Find a mutually suitable price and agree with a dealer who can help structure a loan or offer dealer programs to meet your needs. Call TD banking specialists to get advice or apply by phone.
Before using TD’s vehicle loan calculator, get acquainted with the basic offers.
Other car financing solutions are available through TD Bank: personal line of credit, private sale vehicle loan, and TD home equity FlexLine.
A private sale vehicle loan is one of TD Bank's car loan financing options available for privately sold cars, SUVs, trucks, and vans, or recreational vehicles (RV) such as motor homes, trailers, motorcycles, snowmobiles, and ATVs. The maximum amount is $50,000. In addition, there are security registration fees whose amount depends on the province.
You may choose the car you like within your budget, get the money upfront, and set the repayment schedule on your choice and budget.
To get the TD bank car loan for privately sold cars, you could apply online; if your car is more than five years old or your RV is more than two years; call or book an appointment at the TD branch; if your car is five years or less and RV's model year is less than two years.
There is access to a fixed interest rate and a variable interest rate. But precise rates aren't listed on the TD Bank website.
A variable interest rate is based on the TD prime rate and fluctuates according to the market situation. As a result, you may save or lose money. If interest rates decrease, more of your payment goes towards your principal so that you can settle the loan faster. When car loan rates increase, more of your installment goes towards interest, and the amortization period becomes longer.
With a fixed rate, you could know the exact amount of your balance and monthly payments and when you will pay off your loan.
The TD line of credit suits you if you want access to financing that could cover an approximate vehicle purchase price. In addition, you don't have to reapply: apply once for a credit limit and use the funds within the set credit limit with a flexible repayment plan.
The full line of credit amount is $50,000, and car loan rates are variable, depending on the TD prime rate. Currently, the prime rate is 4.7%.
With a TD Line of credit, you have an opportunity to use the fixed-rate advantage option. You may lock in all or a portion (subject to minimums) of your balance at a fixed rate with fixed payments.
TD Bank car loan is available for a new or used car. Decide which one suits your financial situation and particular needs and make an auto purchase with TD Canada Trust line of credit, car loan, or TD auto finance.
TD’s car loan calculator is made to help you estimate your monthly payments, as well as a personal loan and line of credit payment calculator. However, the second will provide more information to analyze future borrowing: total interest amount and an amortization graph.
TD Bank's car loan calculator is an intuitively understandable tool designed to give a borrower basic knowledge about potential car loan payments. Change values and review the results.
You may see that your monthly payments will reduce with a longer loan term, but you should consider that total interest will increase. Think about what meets your financial needs and goals: to have more affordable payments now or pay off your loan faster.
For example, you want to borrow $25,000 with an interest rate of 4% for 60 months. Your monthly repayment will be $460.41; the accumulated interest over five years is $2,583.86. If you change the term to 40 months, you may see that the repayment amount increases to $738.10. But total interest over three years reduces to $1,548.35. To save money on interest, try to pay back early if possible.
Note: using the car loan payment calculator, it is possible to calculate your payment term in months, while the personal loan calculator allows you to choose a term from 1 to 7 years.
Interest rates directly affect your payments. You could try to decrease your car loan rates: work on your credit history, purchase a new car rather than a used one, or shop around for better interest rates.
Consider putting a larger down payment to raise the chances of getting approved—usually, the more significant the down payment, the lower the interest on car loans.
Use calculators for a fast and easy comparison of different borrowing offer to find the best car loan deal which corresponds to your life situation.
Visit the TD bank website. Choose «Personal» — «Borrowing» at the side menu. The new window will open. Select «Car or large purchase» to see all car borrowing products. Scroll before you see «Tools and calculators.»
To use the car loan calculator:
Click the «Vehicle loan calculator» to see how much your monthly payment on the new or used vehicle loan could be.
In the new window, enter the vehicle loan details: car loan amount, interest rates, and loan term (6 — 84 months or up to 96 months depending on the financing option).
The Annual Percentage Rate (APR) is equal to the interest rate, as there are no additional fees or charges.
Review the answer — your estimated vehicle monthly payments amount.
To use a Personal loan and Line of credit payment calculator:
Click the «Personal loan/Line of credit calculator» to find out how much payments and the total interest you will pay on your car loan and what is the minimum payment per month of your line of credit.
Select type of funding option: a personal loan or unsecured personal line of credit.
Select the purpose of a loan — «Purchasing a vehicle.»
If you choose a line of credit, input the amount of money you want to borrow and the interest rate.
Get your minimum monthly payment.
For a personal loan details calculation, enter the borrowing amount, interest rate, amortization terms range (1 — 7 years), and payment frequency (monthly, semi-monthly, weekly, bi-weekly).
Get results: monthly payments and the total interest you will have to pay during the life of your loan, and an amortization graph.
All information is for illustrative and general information purposes only. The calculation is based on the data you have entered and does not guarantee you have been approved for a car loan. Conditions may apply. Any application is subject to credit approval.
An approximate monthly payment for a $300,000 car loan with an interest rate of 5% and a loan term of 50 months is $6,659.13.
There is no specific information on the TD Bank website, but the average credit score required to get approved for a car loan in Canada is 630.
The average car loan interest rate in Canada in 2022 is 5.23%. It is lower for new car loans and higher for used car loans.
