TD Financial Services seems to be the most aggressive buyer of Non Prime Car Loans in Canada. They offer higher interests rates then prime customers however they are flexible with their customers after a 11-12 month term.

TD Financial Services has created a program that Not Only helps people with bad credit it’s helping Canadian Automotive Dealers too. Now Canadian Car dealers can offer Bad credit car loans to their customers and 12 months later get the customer back to re-write a New Car loans at far less Interest.

In the beginning TD Financial Services grants the customer a vehicle loan with interest rates ranging from 16-29 Percent. However if the customer make 11-12 consecutive Monthly payments on time TD will allow the customer to trade in their existing Vehicle at any Canadian Car Dealer. Upon the Trade in the Bad Credit Car Loan customer can take advantage of much lower interest Rates from 8.9 – 9.9 Percent.

Program Parameters:

TD Financing Services will consider applicants with:

• TDSR (Total Debt Service Ratio) of up to 50%.

• Residence and employment stability of 6 months or greater.

• Income levels of $1800/month ($10.50 per hour if paid hourly) or greater for single applicants and $1800 or

greater combined for joint applicants.

Employment Verification:

• TD Financing Services will complete employment verification on all applicants and requires recent pay-stubs for


• All approvals are considered conditional subject to employment verification and acceptance by TD Financing


• TD Financing Services offers a pre-verification service, where dealers can ensure employment income is verified

prior to funding.

• Self-employed applicants, seasonal employees, sub-contractors, and commissioned employees may require

additional proof of income and will be conditioned on the approval.

• TD Financing Services currently does not use Child tax credit, GST credits or Social Assistance as income sources.

Preferred Customer Program:

TD Financing Services values its customers and offers current customers who have made 12 months of timely and

consecutive payments an opportunity to trade in their vehicle with rates starting at 10.9% or 9.9% with the Flex Rate

Option, on approved credit.

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