TD hopes the portal — slated for launch this fall — will help dealers more easily interact with and connect in real-time with the bank, Stuart said.
“Customer and dealer satisfaction has been a central focus for TD Auto,” he said. “We have deepened relations with our dealers, and we are going to continue to focus on that.”
The portal will offer more information on TD’s finance programs, policies, and “a variety of other things to make it easier to do business with us,” he added. Additionally, TD Auto is continuing to grow its business and dealer network in a “responsible way,” he said.
“There is a lot of noise in the market about some lenders tightening up their credit appetite, getting out of certain lending segments, and not being as bullish,” he said. “For us, it is completely opposite. We are comfortable with the business we are originating, and we are doing it responsibly by deepening relationships and relying on our dealers.”
TD Auto has originated about $8.5 billion in auto loans through mid August, Stuart said, estimating that originations could wind up in the $10.5 billion to $11 billion range by yearend — on par with last year’s volume. The company’s U.S. auto outstandings increased 5.5% year over year to $21 billion in the second quarter.Like This Post