I am looking into purchasing a vehicle and the dealer pre-approved me through TD Auto Finance at 2.49%. I was going to just go with TD and move on but all my online research indicates that there is a pre-payment penalty on their auto loans. I asked the dealer finance manager and he said thats not correct at all in his experience. I then called TD auto directly and they also stated that they do not have such penalties unless its "dealer inserted" and I should of course check the paperwork carefully before signing, because they don't mandate any pre-payment penalties on their loans. I am a few hours away from the dealer so I have been working with them remotely to finalize things before driving over so I haven't seen any paperwork. Has anyone had any experience with TD auto and pre-payment penalties?
