The internet has changed the way we do many things and getting an auto loan is one of them. It is a great way to not only save time but in many cases; it could save you a considerable amount over the life of the loan. Not only can you go online nowadays and get financing for the purchase of a new or used vehicle purchase, but you can also find options that will allow you to refinance an existing auto loan or even a loan that will allow you to purchase your neighbors vehicle. Completing an auto loan will also save you time. If you are like most consumers, time is a precious commodity and one that does not seem to be growing. Going online to complete your auto loan will help put some time back into life.The ProcessTo go online and apply for financing is quite simple. Find a reputable lender that does business online, fill out a simple one page application and within minutes in most cases you will have all of the information you need regarding your loan approval. Some online sites even allow you to download all of your documents and complete the entire loan process online. This is a huge time saver and again, one of the easiest ways to save money on your next auto purchase. Why? On average, consumers that finance their vehicle through a dealership pay as much as 3% more in their APR (annual percentage rate) than those that go online to complete a loan. The dealership makes money on the financing so they have a tendency to charge you higher interest than you can find online.Special RatesIt is important to do research beforehand about the vehicle you are buying, especially if it is a new car. Many times you will see special rate financing being offered by the manufacture. What they don’t tell you in the advertising is that most consumers don’t qualify for that special rate or that the rate is for a very short term and if you do opt to go with that special rate, with the shorter term to finance it, your payments will be so high you can’t afford them. In many cases, consumers are better off taking the rebate being offered instead of the special financing and finding a better rate online from a reputable lender. According to many consumers, online lenders offer lower rates than those that are offered through a branch or typically bank location.Added BenefitsSome online lenders do not charge any application fees. That means you can go online and apply and see the terms and conditions of your loan approval before you have to commit to anything. Be aware that some online lenders do charge such fees. When you apply online, get a fast decision and can review the approval terms up front, you become empowered. This gives you incredible negotiation power when you step foot onto a dealership. Now, you are negotiating with the power of a cash buyer because you are no longer depending on the dealership for financing. Why not get your loan directly from the lender and cut out the middle man. You will be glad you did.