New mobile app will enable users to obtain prequalification for vehicle financing
TORONTO, Oct. 31, 2019 /CNW/ - TD Auto Finance (TDAF) today announced the upcoming addition of vehicle financing prequalification within the TD WheelsTM mobile app. Available now, the current app lets prospective car buyers estimate their monthly payments and determine their current vehicle's approximate trade-in value. Starting in December 2019, the app will allow users to obtain prequalification for vehicle financing, up to a specific amount and for a specific rate and term.
The TD Wheels mobile app will help to evolve the car-buying experience for Canadians by offering a personalized digital experience that allows them to get a more complete view of their car-buying options. The app allows users to:
- Search for their preferred vehicle and manufacturer
- Select different make, model and trim options
- Obtain information about special rates from certain manufacturers
- Estimate what their expected car payment may be
- Send their preferred vehicle and contact information to a dealer of their choice for future contact
"We are proud to offer customers an app to help make vehicle financing options easier to understand," says Howard Thompson, Vice President, Product, Strategy & Customer Service, TD Auto Finance. "TD Wheels users can search both vehicle and financing options on the go, giving them more control and allowing them to play an active role in their financing decisions."
The prequalification option will help TD Wheels users understand whether they may qualify for a TDAF loan, based on the information they provide. App users can then choose to send this information to a dealer of their choice for a more streamlined conversation once they arrive at the dealership.
"At TD, we are seeking to redefine how customers see their bank in the digital age," says Imran Khan, Vice President, Digital Customer Experience, TD. "With TD Wheels, we are evolving the car-buying experience for customers through a personalized experience that helps to make the process faster and easier with information that can help them make decisions with confidence."
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the fifth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 13 million active online and mobile customers. TD had CDN$1.4 trillion in assets on July 31, 2019. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
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