The Consumer Federation of America reports that car buyers are frequently overcharged on auto loans received at the dealership. The overcharge amount varies, but averages 3 percent. This could add as much as $1,000 to the life of your auto loan. To avoid being overcharged, you may want to consider online auto loans.

The Benefits

Internet auto loans have recently begun gaining in popularity. This is because there are many benefits to getting auto loans online. The competition is fierce between online lenders, and most can offer better rates than auto dealers and traditional lenders. In fact, online auto rates have become the standard for dealers to beat. Other benefits include: