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TD Auto Finance launches loan protection plan – Canadian Auto World

TD Auto Finance launches loan protection plan


To help alleviate some of the concerns of car buyers in the current economic climate, TD Auto Finance has launched a vehicle return program designed to provide financial support to customers who experience a covered life-changing event, like involuntary job loss.

Through TD Auto Loan Protection, car buyers may be able to return their purchased vehicle within the first 12 months of ownership if a qualifying life changing event compromises their ability to make loan payments.

Life events that are considered for approval include involuntary job loss, self-employed personal bankruptcy, physical disability, loss of driver’s license due to an eligible medical condition, and in most provinces, international job transfer or loss of life due to an accident. 

“In the current economic climate, we understand investing in a new car is a big financial decision,” says Andrew Ojamae, director of sales, auto, RV and LV for TD Auto Finance.

“TD Auto Loan Protection lets Canadians drive away in their new cars with less worry by knowing they can potentially return their vehicle should their circumstances change due to a covered life event.”

New and used personal auto loans financed through TD Auto Finance will automatically include one year’s complimentary coverage. 

Under an approved qualifying event, TD Auto Loan Protection may provide payment of up to $7,500 of the remaining loan balance, after the proceeds of the sale of the vehicle are applied to loan balance, less the cost of repairs. The customer could only be responsible for paying any balance left after the benefit is applied (and the cost of any repairs).   

Visit for full details and conditions.