Pay your TD Auto loan online, by phone, or by mail
TD Auto Finance (the auto lending division of Toronto-Dominion Bank) lets you make payments through their online portal, by calling their payment line, by mailing a check, or through automatic bank transfers. The fastest route is logging into your TD Auto account online or using the TD mobile app — you can make a one-time payment in minutes and see it post within one to two business days.
If you prefer not to use the internet, you can call TD Auto Finance's payment line and speak to a representative who will process your payment over the phone using your bank account or debit card. Mailing a check works too, but takes longer because of postal delays and processing time at their office.
The key thing to know before you start: have your loan account number ready, and know whether you want to pay just the minimum due or a larger amount toward the principal. TD Auto will accept either one.
Key Takeaways
- The online portal and mobile app are the fastest ways to pay, with payments posting within one to two business days.
- You can set up automatic monthly payments so you never miss a due date, and you can change or cancel them anytime.
- Paying by phone takes about 10 minutes and works if you do not have online access or prefer speaking to someone.
- Mailed checks take 7 to 10 business days to clear, so send them at least two weeks before your due date to avoid a late payment.
- Paying extra toward principal reduces the total interest you pay over the life of the loan, even if you only add $25 or $50 per month.
How to pay online or through the TD mobile app
Go to the TD Auto Finance website or open the TD mobile app on your phone. Log in with your online banking username and password — if you do not have an online account yet, you can set one up in about 10 minutes using your loan account number and Social Security number.
Once you are logged in, look for "Make a Payment" or "Pay My Loan" (the exact wording varies slightly by app version). Enter the amount you want to pay, choose the date you want it to come out of your bank account, and confirm. The payment will be deducted from your checking or savings account within one business day and will show as posted to your loan within one to two business days after that.
If you want to stop making manual payments every month, you can set up automatic recurring payments in the same section. Choose your payment amount, the day of the month you want it to come out, and whether you want it to continue indefinitely or stop on a specific date. You can change or cancel automatic payments anytime by logging back in.
How to pay by phone
Call TD Auto Finance's payment line at 1-800-848-8000 (this number is on your loan statement). Have your account number and routing number ready if you are paying from a bank account, or your debit card number if you are paying that way.
A representative will ask you how much you want to pay and what date you want the payment to come out. They will confirm the amount and the account it will be drawn from, then process the payment on the spot. The call usually takes 10 to 15 minutes. The payment will post to your loan within one to two business days, the same as online payments.
If you call and the line is busy, you can also use their automated phone system by following the prompts, though most people find it faster to wait for a representative.
How to pay by mail
Write a check payable to TD Auto Finance and include your account number on the memo line. Mail it to the address on your loan statement — this address is where payments are processed, and it is different from the main TD office address.
Mail payments take 7 to 10 business days to arrive and be processed, so send your check at least two weeks before your due date. If you are close to your due date and worried about a late payment, use online or phone payment instead — they are much faster.
If you lose your statement or do not know the mailing address, call TD Auto Finance at 1-800-848-8000 and ask for the payment processing address. Do not mail to a branch address or a general corporate address, because it will be delayed.
What happens if you pay late or miss a payment
TD Auto Finance charges a late fee if your payment arrives after the due date shown on your statement. The fee amount depends on your loan agreement, but is usually between $10 and $25. A late payment also shows up on your credit report and can lower your credit score.
If you miss a payment entirely, TD Auto will usually send you a notice and give you 10 to 15 days to pay before they report it to the credit bureaus. If you know you will miss a payment, call them before the due date — they may be able to work out a temporary arrangement or push your due date back by a few days.
If you fall more than 60 days behind, TD Auto may begin the process of repossessing the vehicle. At that point, your options narrow significantly, so contacting them as soon as you know you are in trouble is important.
How extra payments reduce what you owe
When you pay more than your minimum monthly payment, the extra money goes toward the principal (the amount you originally borrowed) rather than toward interest. This means you pay less total interest over the life of the loan and own the car free and clear sooner.
For example, if your loan is for $20,000 at 6 percent interest over 60 months, your minimum payment might be around $387 per month. If you pay $437 per month instead, that extra $50 goes straight to principal. Over the course of the loan, that extra $50 per month could save you hundreds of dollars in interest and shorten your loan by several months.
You can make extra payments anytime through the online portal or by phone — just enter an amount higher than your minimum due. There is no penalty for paying early or paying extra, and you can do it as often as you want.
Frequently Asked Questions
Can I pay my TD Auto loan through a third-party payment service like PayPal or Venmo?
No. TD Auto Finance does not accept payments through PayPal, Venmo, or other third-party payment apps. You must pay directly through their website, app, phone line, or by mail. Using a third-party service could delay your payment and result in a late fee.
What if I want to pay off my entire loan early?
You can pay off the full remaining balance anytime without penalty. Call TD Auto Finance or log into your account online to find out the exact payoff amount (it includes any interest accrued up to the payoff date). Make a payment for that amount, and your loan will be closed once it posts.
How do I know if my payment went through?
If you paid online or by phone, you will see a confirmation number on the screen or in an email. Log back into your account a day or two later to confirm the payment shows as posted. If you mailed a check, call TD Auto Finance after two weeks to confirm they received it.
Can I change my automatic payment amount or due date?
Yes. Log into your TD Auto account online or call 1-800-848-8000 to change the payment amount, the day of the month it comes out, or to cancel automatic payments entirely. Changes usually take effect within one to two business days.
What if I do not have a bank account to pay from?
Call TD Auto Finance at 1-800-848-8000 and ask about payment options. You may be able to pay with a debit card over the phone, or they can direct you to other payment methods. Mailing a check or money order is also an option if you have neither a bank account nor a debit card.