- TD Auto Finance
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TD Auto Finance Type Subsidiary Industry Auto Loans
Financial ServicesFounded Chrysler Credit Corporation Headquarters Farmington Hills, Michigan Products Chrysler Financial Canada
Chrysler Financial Mexico
Chrysler Financial de Venezuela (CFdV).Owner(s) Toronto-Dominion Bank Website chryslerfinancial.com TD Auto Finance is a financial-services provider[1][dead link] that formerly was known as Chrysler First Financial Services Corporation, when it was part of Chrysler LLC. The company was founded in 1964 by Chrysler Corporation and became a stand-alone company in 2007, when Chrysler Corporation was purchased by Cerberus Capital Management.
The company offers wholesale finance plans of many kinds: dealer finance plans, dealer services, retail consumer finance plans, lease programs, and auto-insurance programs.
As Chrysler Financial, the company supported financial products and services to both dealers and purchasers of Chrysler, Jeep and Dodge vehicles 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 as of 2007.
In January 2009, Chrysler Financial was the recipient of $1.5 billion from the Troubled Asset Relief Program (TARP). The company said that it used the money to fund 85,000 loans to purchase Chrysler 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 program.[2]
In December 2010, Toronto-Dominion Bank announced it would acquire Chrysler Financial for $6.3 billion from private-equity firm Cerberus Capital Management.[3] The company was renamed TD Auto Finance in early June 2011.
See also
References
- ^ http://corp.chryslerfinancial.com/news_business_restructure.html
- ^ By Dealbook (2009-07-14). "Chrysler Financial Pays Back Its TARP Loan - NYTimes.com". Dealbook.nytimes.com. http://dealbook.nytimes.com/2009/07/14/chrysler-financial-pays-back-its-tarp-loan/. Retrieved 2011-06-24.
- ^ Egan, Matt (2010-04-07). "TD Bank to buy Chrysler Financial for $6.3B". Foxbusiness.com. http://www.foxbusiness.com/markets/2010/12/21/td-bank-buy-chrysler-financial-billion/. Retrieved 2011-06-24.
External links
Major brands by financial service Master: Toronto-Dominion Bank | Financial group: TD Bank Financial Group | Canadian banking: TD Canada Trust | U.S. banking: TD Bank (formerly TD Banknorth and Commerce Bank)
Canadian mutual funds: TD Mutual Funds | Canadian brokerage: TD Waterhouse | U.S. brokerage: TD Ameritrade | U.S. auto finance: TD Auto Finance | Canadian insurance: TD Insurance | Capital markets: TD SecuritiesChrysler Marques CurrentDefunctAMC (1966–1988) · Commer (1905–1979) · Barreiros (1959–1978) · DeSoto (1928–1961) · Eagle (1988–1998) · Fargo (1920–1972) · Hillman (1907–1976) · Humber (1898–1975) · Imperial (1955–1975, 1981–1983) · Karrier (1908–1977) · Plymouth (1928–2001) · Singer (1905–1970) · Simca (1934–1977) · Sunbeam (1901–1976) · Valiant (1960–1966)
Divisions and
subsidiariesCurrentChrysler Australia · Chrysler Canada · Dodge · Jeep · Mopar · Ram Trucks · Street and Racing TechnologyDefunctAmerican Motors Corporation (1954–1988) · Chrysler Australia (1951–1981) · Chrysler Europe (1967–1981) · Chrysler-Plymouth · Chrysler UK (1970–1981) · EnviFormerGlobal Electric Motorcars · Chrysler First Financial Services CorporationJoint ventures and
alliancesCurrentDefunctPeople Walter Chrysler · Lee Iacocca · C. Robert Kidder · Thomas W. LaSorda · Sergio Marchionne · Louis RhodesPlaces Products Other Big Three · Cerberus Capital Management · Daimler-Chrysler (1998–2007) · Fiat SpA · History (Chapter 11 reorganization)
Category · 
CommonsCategories:- Toronto-Dominion Bank
- Chrysler
- Financial services companies of the United States
- Companies based in Oakland County, Michigan
- Companies established in 1964
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