Auto financing for newcomers to Canada

TD Auto Finance offers flexible auto financing solutions to help meet the needs of newcomers to Canada.

How TD Auto Finance can help newcomers to Canada

  • Who is eligible?

    Our New to Canada Program is available to permanent residents and foreign workers within their first 5 years in Canada.

  • Dealership network

    Financing from TD Auto Finance is available through over 3,500 dealerships across Canada.

  • Limited or no credit history

    If you are new to Canada, we may help you finance a vehicle in Canada—even if you have limited or no Canadian credit history.

Are you eligible for financing from TD Auto Finance?

At-a-glance information about auto loan qualifications for newcomers

Permanent Residents

Foreign Workers

Customer eligibility

Eligible for newcomers within their first 5 years of living in Canada

Proof of employment/income

(Unless confirmed through TD Bank records for TD clients)

Down payment Based on the vehicle's cash selling price.



Maximum Loan Amount


Maximum Term/Amortization

96 Months

60 months
(Equal to or less than the work permit’s expiration date)

Eligible vehicle age

From the current model to 10 years old

From the current model year to 10 years old

Required documents

Permanent Resident Card (both sides) or Confirmation of Permanent Residence form (IMM 5292 or IMM 5688)

Work Permit form (IMM 1442) or Work Visa with the expiry date clearly visible.

What is Amortization?
Amortization is the amount of time that it would take you to pay off your auto loan completely.

What is Term?
A term is the length of time you’re committed to a rate, lender, and associated conditions.

Material on this site is provided for information purposes only. The are no offers by TD Auto Finance ("TDAF") of fixed credit through this site. TDAF Financing is only available on approved credit ("OAC") and to qualified applicants. TDAF may change, extend or terminate available financing at any time without notice.

Fixed or Variable Rate Financing

You can select a payment term and frequency that works for you, with either fixed or variable rate financing to suit your needs.

  • Fixed Rate
    A fixed rate of interest gives you the security of knowing how much you're paying with each payment during the term of your loan. This means you're paying the same amount, whether you want to pay with regular monthly, semi-monthly weekly, rapid weekly, biweekly or rapid biweekly payments.
  • Variable Rate
    A variable rate gives you a set monthly payment but an interest rate that can change during the entire term of the loan. If rates go down, you can pay off your loan faster. If interest rates increase, more of your regular payment goes toward the interest and it may take you longer to pay off your loan.

Count on TD Auto Finance

  1. Dealership network
    Obtain financing with us through more than 3,500 dealerships across Canada.

  2. Financing to meet your needs
    Apply for competitive rates and flexible terms for a vehicle that's within your budget.

  3. Manage your loan online
    Easily access your auto loan through EasyWeb, where you can review and manage your loan, and make lump sum payments directly.

  4. Award-winning dealer satisfaction
    Thanks to our dealers, TD Auto Finance received the J.D. Power award for Highest Dealer Satisfaction with Non‐Prime and Prime Credit Non‐Captive Automotive Financing Lenders. This marks the 7th year in a row for the Non-Captive Non-Prime segment.1

  5. TD Wheels app™
    Search and compare the latest makes and models of vehicles, discover dealerships who offer financing with TD Auto Finance, estimate the payment you may qualify for and review available manufacturer discounts with the TD Wheels app.

Additional Resources

  • Explore convenient banking options for newcomers, like chequing accounts, savings accounts, credit cards and international money transfers.

  • Make sure you're exploring all your options when buying a car. We've put together a few important things to think about during this journey.

  • Now you're ready to make your purchase. Before you head out, review our list so you can be prepared on the day you buy.

How to Apply

Have a question? Find answers here