The persons, who are looking for a loan that will help them to buy a car quickly, can apply for the online auto loans. These loans are available on the internet. One can fill an online application form and get a loan within 24 hours. Mostly, the lenders take only few hours so that they can verify the information given in the application. After such verification, the loan amount is being transferred in to the bank account of the applicant. He can go to the bank immediately and withdraw the required amount to buy a car.These loans can be used to buy either a new car or an old one. The lenders allow online auto loans even without asking for any collateral security. They may charge a higher interest rate on such auto loans. However, this saves the time involved in the whole procedure.