TORONTO -

TD Auto Finance has rolled out a vehicle return program this week in Canada that may offer a bit more peace-of-mind when a customer steps on a dealer’s lot.

In essence, TD Auto Loan Protection lends a financial hand if a Canadian consumer were to go through a life-changing event like losing their job or suffering a physical disability.

The program allows the customer to return their vehicle within a year of purchase if his or her ability to make a payment is hampered by one of the covered life-altering events. Those can be considered for approval include the following:

Involuntary job loss
Self-employed personal bankruptcy
Physical disability
Loss of driver’s license due to an eligible medical condition
International job transfer or loss of life due to an accident (in most provinces)

“In the current economic climate, we understand investing in a new car is a big financial decision,” says Andrew Ojamae, TD Auto Finance’s director of sales, auto, RV & LV.

“TD Auto Loan Protection lets Canadians drive away in their new cars with less worry by knowing they can potentially return their vehicle should their circumstances change due to a covered life event,” Ojamae added.

When a new or used personal auto loan is done via TD Auto Finance, one year of free coverage will automatically be included.

“Under an approved qualifying event, TD Auto Loan Protection may provide payment of up to $7,500 of the remaining loan balance, after the proceeds of the sale of the vehicle are applied to loan balance, less the cost of repairs,” officials explained. “The customer could only be responsible for paying any balance left after the benefit is applied (and the cost of any repairs).”

More information can be found at www.tdautoloanprotection.com.