TD Auto Finance is a financial-services provider. The company offers dealer finance plans, dealer services, and retail consumer finance plans. It is a subsidiary of

Toronto-Dominion Bank Toronto-Dominion Bank (), doing business as TD Bank Group (), is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. The bank was created on February 1, 1955, through the merger of the Bank of ...

. As Chrysler Financial, the company supported financial products and services to both dealers and purchasers of

Chrysler FCA US, LLC, Trade name, doing business as Stellantis North America and known historically as Chrysler ( ), is one of the "Big Three (automobile manufacturers), Big Three" automobile manufacturers in the United States, headquartered in Auburn H ...

Jeep Jeep is an American automobile brand, now owned by multi-national corporation Stellantis. Jeep has been part of Chrysler since 1987, when Chrysler acquired the Jeep brand, along with other assets, from its previous owner, American Motors Co ...

and

Dodge Dodge is an American brand of automobiles and a division of Stellantis, based in Auburn Hills, Michigan. Dodge vehicles have historically included performance cars, and for much of its existence, Dodge was Chrysler's mid-priced brand above P ...

vehicles in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Mexico Mexico, officially the United Mexican States, is a country in North America. It is the northernmost country in Latin America, and borders the United States to the north, and Guatemala and Belize to the southeast; while having maritime boundar ...

Puerto Rico ; abbreviated PR), officially the Commonwealth of Puerto Rico, is a Government of Puerto Rico, self-governing Caribbean Geography of Puerto Rico, archipelago and island organized as an Territories of the United States, unincorporated territo ...

and

Venezuela Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and many Federal Dependencies of Venezuela, islands and islets in the Caribbean Sea. It com ...

. It was based in Farmington Hills, Michigan, with a final total of 3,600 employees, and a global contract of $75 billion as of 2007. In January 2009, Chrysler Financial was the recipient of $1.5 billion from the

Troubled Asset Relief Program The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by U.S. Presi ...

(TARP). The company said that it used the money to fund 85,000 loans to purchase

automobiles. Chrysler Financial repaid the TARP loan in July 2009 by raising funds from an asset-backed securitization through the

Term Asset-Backed Securities Loan Facility The Term Asset-Backed Securities Loan Facility (TALF) is a program created by the U.S. Federal Reserve (the Fed) to spur consumer credit lending. The program was announced on November 25, 2008, and was to support the issuance of asset-backed sec ...

program. In December 2010,

announced it would acquire Chrysler Financial for $6.3 billion from

private equity firm A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...

Cerberus Capital Management Cerberus Capital Management, L.P. is an American global alternative investment firm with assets across credit, private equity, and real estate strategies.Leaders Magazine"Providing Economic Opportunity: An Interview with The Honorable Dan Qua ...

. The company was renamed TD Auto Finance in early June 2011. TD has more than 83,000 employees worldwide, offering a range of financial products and services to almost 25 million customers.

References

External links

* {{Chrysler Group LLC Toronto-Dominion Bank Chrysler Financial services companies of the United States Companies based in Oakland County, Michigan Financial services companies established in 1964

See also

References

External links