TD Auto Finance Repossession Policy Explained: Timeline, Flexibility, etc

TD Auto Finance handles repossessions on a case-by-case basis and will factor in the terms of your contract, state laws, and your payment history. In general, TD Auto Finance will initiate repossession when a loan is 90 days past due. If you’re worried your car might be repossessed, your best bet is to contact TD Auto Finance as soon as possible to discuss your options. We have all the details on TD Auto Finance’s repossession policy.

TD Auto Finance Repossession Policy

TD Auto Finance does not have a standard vehicle repossession policy. Instead, repossessions are handled on a case-by-case basis, according to TD Auto Finance’s customer service department. TD Auto Finance will consider the terms of your contract, your payment history, and the laws in your state. In general, TD Auto Finance will not initiate repossession until you are 90 days past due on your payments. (Chrysler Capital and J.D. Byrider have similar repossession policies. For details, see our articles.)

If you’re worried about repossession, you should call TD Auto Finance at (866) 659-1172 to discuss your options. TD Auto Finance offers loan assistance and modification options for customers experiencing financial hardship. Assistance may be available even after TD Auto Finance has initiated a repossession. Check the terms of your loan contract and/or call TD Auto Finance for more information.

If you’re no longer able to make payments, you can choose to voluntarily surrender your vehicle to the lender, a process known as voluntary repossession. The benefits of a voluntary repossession are that it may look better on your credit report and you may avoid some fees associated with involuntary repossession.

Keep in mind, if your car is repossessed, you’ll still owe money to the lender. The lender will likely sell your car at an auction and the amount earned from this sale will be applied to the balance of your loan. But you’ll still be responsible for paying the remainder of the balance, known as the deficiency balance, as well as any fees associated with the repossession.

In Summary

There is no TD Auto Finance repossession policy officially, but, in general, vehicle repossession will be initiated 90 days after missed payments. To prevent repossession, it’s best to contact TD Auto Finance as soon as possible to discuss your financial situation and your options. If you’re no longer able to make payments, you can choose to voluntarily surrender the vehicle. This may look better on your credit report and can help you avoid some fees.