Online Car Title Loans
With Reasonable Rates In Arkansas

Title Loans In Arkansas – How They Work And What You Need

Premier Title Loans offers Arkansas residents the opportunity to access cash using the equity in their vehicle. These secured loans allow you to tap into your car’s collateral and use it as security for an emergency loan. A title loan allows anyone with a paid off car to borrow a fair amount of money, and you can be approved with minimal credit history or a poor credit rating.

Getting any type of consumer loan in Arkansas can be challenging. There are very few direct loan companies in Arkansas, and installment loan lenders often require a good credit score. With a car title loan, however, the time required to underwrite your application is minimal, and a lender can sometimes process your loan on the same day.

Best of all, Arkansas has a constitutional cap on interest rates of 17% for all consumer loans. That means you can say goodbye to the very high interest rates that are all too common with title loans in other states. Some of these states allow interest rates over 100%, but that’s not the case in Arkansas! Any vehicle-secured loan you get approved for with an Arkansas lender is a regulated low interest loan!

Qualify For Car Title Loans In Arkansas

To qualify for a title loan in Arkansas, you’ll need to bring the following documents with you or have them ready to upload if you’re applying entirely online:

Proof of Residency – A utility bill or other document with your name and address is typically accepted.

Insurance Documentation – Any vehicle used as security for a title loan needs comprehensive insurance coverage.

Vehicle That’s Paid Off And Titled In Your Name – The title of your paid-off vehicle must show you as the owner, and there can’t be any liens on the title. You must have a paper copy of the pink slip, as that’s what the lender holds as collateral.

Valid Vehicle Registration – Get a copy of your registration from any Arkansas DMV location.

These are the general secured lending requirements; however, additional items may be required. For instance, most licensed lenders want proof of income or employment. This helps them verify that you’ll be able to repay the loan amount in full. Other lenders in Arkansas may not require this, but they may still ask for additional documents, such as bank statements or references, to show you have made recent loan payments.

How Are Arkansas Title Loans Different From Payday Loans And Cash Advances

The difference between a title loan and a payday loan is that a title loan lender uses your car as collateral. In contrast, a payday loan company underwrites your application based on your credit history and income. Your vehicle can be repossessed at any time if you fail to make the payments. With a payday loan, the lender can sue you or send your debt to collections, but they cannot repossess your car. The interest rates for title loans are sometimes lower than those associated with payday loans because you have collateral securing your loan amount. Most local title loan providers offer larger loan amounts than payday advance companies, as there is equity from your vehicle that they can turn to if you fall behind on payments.

Where To Find Lending Locations In Arkansas That Offer Auto Title Loans

There are a few local lenders in Arkansas that offer car title loans. Some have walk-in locations in Bentonville, Little Rock, and Fayetteville, allowing you complete the document check in person.

Regarding a vehicle inspection, you can expect a loan representative to go to you, as most lenders have a field agent covering the entire state. Some of the larger title loan companies in Arkansas require a detailed car inspection, which will be conducted at any lending location. During the inspection, they’ll check the mileage and look for any damage to your vehicle.  The inspection is the final step before you sign the loan documents and receive your cash. The final part of the funding process takes less than an hour and is even quicker when conducted in a retail setting.

Vehicle Title Loans In Arkansas Without A Credit Check

You’re probably considering an online title loan because of your poor credit! Your lender knows you have poor credit, and that’s why they won’t waste time with a check of your FICO score. The good news is that most title loan providers will not perform a hard inquiry on your credit report and will instead focus on the value of your vehicle.

Title loans with no credit check are sometimes available in Arkansas, and Premier Title Loans offers pre-approval in Bentonville and Little Rock using your car as collateral. Even if you’ve been turned down for a personal loan recently because of your credit history, you may still qualify for a secured title loan!

What Else To Know About Instant Car Title Loans In Arkansas

These secured loans can be underwritten and funded quickly, sometimes faster than you expect from a personal loan company. Your lender may not run a full credit score check, and you can qualify for a bad credit title loan in Arkansas if you have a high-value vehicle! Some title loan companies can fund your loan in as little as one business day after you apply.

Now that you know more about getting a car title loan in Arkansas, why not start an application today? We can process your application and get you a pre-approval notification in less than an hour. All we need is your car’s make, model, and year to get started. Call Premier Title Loans at 800-250-6279 or apply now online!