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 (french: links=no, Banque Toronto-Dominion), doing business as TD Bank Group (french: links=no, Groupe Banque TD), is a Canadian Multinational corporation, multinational banking and financial services corporation headquarte ...

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

Chrysler Stellantis North America (officially FCA US and formerly Chrysler ()) is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automoti ...

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

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 (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

Puerto Rico Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...

and

Venezuela Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...

. It was based in

Farmington Hills Farmington Hills is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. Part of the affluent suburbs northwest of Metro Detroit, Detroit, Farmington Hills is the second most-populated city in Oakland County, after Tro ...

, 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 President G ...

(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 secu ...

program. In December 2010,

announced it would acquire Chrysler Financial for $6.3 billion from

private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leve ...

Cerberus Capital Management Cerberus Capital Management, L.P. is an American private equity firm,Leaders Magazine"Providing Economic Opportunity: An Interview with The Honorable Dan Quayle, Chairman, Cerberus Global Investments, LLC". specializing in distressed investing. ...

. 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