TD Auto Finance is a financial services provider. The company offers dealer financing plans, dealer services, and retail consumer financing plans. It is a subsidiary of Toronto-Dominion Bank.
As Chrysler Financial, the company supports financial products and services for Chrysler, Jeep and Dodge dealers and buyers in the United States, Canada, Mexico, Puerto Rico and Venezuela. It was based in Farmington Hills, Michigan, with a final total of 3,600 employees, and a global contract of $ 75 billion in 2007. In January 2009, Chrysler Financial was a $ 1.5 billion beneficiary of the Troubled Asset Relief Program (TARP). The company said it used the money to finance 85,000 loans to buy Chrysler cars. Chrysler Financial paid off its TARP loan in July 2009 by collecting funds from asset-backed securitization through the Asset Backed Securities Lending Facility program.
In December 2010, Toronto-Dominion Bank announced it would acquire Chrysler Financial for $ 6.3 billion from private equity firm Cerberus Capital Management. The company was named TD Auto Finance in early June 2011.
Video TD Auto Finance
See also
- The metropolitan Detroit economy
Maps TD Auto Finance
References
External links
- Official website
Source of the article : Wikipedia
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