How Do Title Loans Work in Arkansas?
An auto title loan, otherwise known as a vehicle title loan or a car title loan, can allow you to use your vehicle title as collateral in order to secure emergency funding. Car title loans in Arkansas can help qualified borrowers get quick funding to handle unexpected expenses or consolidate a lot of smaller debts into one monthly payment.1 3
If you are eligible for a title loan, you will maintain access to your vehicle despite the fact that a title lender will place a lien on your car’s title after the loan is funded. Just make sure to repay your title loan on time each month!1
The applicable title loan laws in Arkansas state that a prospective borrower must be at least 18 years of age to apply for an auto equity loan. The United States Census Bureau has recently reported that over 70% of residents in Arkansas are of legal age. If you want to obtain emergency cash and loan approval for a car title loan in the Natural State, you will need to meet the lender’s application criteria and submit a few documents to verify your information.1
Here are the initial title loan requirements in Arkansas that you must meet in order to obtain loan approval:1
- Have an Arkansas Vehicle Title in Your Name
- Be Able to Demonstrate Your Ability to Repay the Arkansas Title Loan
- Possess a Qualifying Car with Positive Equity
If you meet the necessary requirements and qualify for a title loan in Arkansas, you could get the emergency fund you need in as little as one business day.1 3 However, it’s worth noting that your vehicle’s value and your income will largely influence the loan amount you could access through a title loan. Additionally, these factors will primarily affect your eligibility for a car title loan in Arkansas. But if you don’t know what your car is currently worth, then you can use LoanMart’s online calculator tool to get an estimate and a loan quote free of obligation!1
With an auto title loan serviced by LoanMart, you can start your application online and have your funds in no time at all!1 3 Click here or call a LoanMart title loan agent at 855-422-7412 to learn more about auto title loans in Arkansas.
What Do I Need to Apply for Online Title Loans in Arkansas?
The application process for online title loans in Arkansas usually involves submitting a few important documents. This might sound like a hassle, but it doesn’t have to be! Typically, these documents can be found lying around your house or sitting in your mailbox, and you can conveniently upload them online without traveling anywhere! That will be helpful if you need to resubmit any documents during your loan request since you can instantly send them again without wasting any time.1 3
As an Arkansas resident, you can expect to turn in the following basic documents when applying for a title loan serviced by LoanMart:1
- Proof of Arkansas Residence: Whether you live in Little Rock, Hot Springs, or another nearby city in Arkansas, you must prove to a title loan agent that you currently live in the Natural State to obtain loan approval. Specific documents can be used to verify your address, such as recent credit card statements, rental / lease agreements, utility bills, and mortgage statements. Don’t forget to dial the toll-free number 855-422-7412 if you have questions about what documents are appropriate to use as proof of address for a title loan in Arkansas.
- The Title to Your Car: To secure an Arkansas title loan, your vehicle’s title must be in your name. You may still be able to qualify for a car title loan if you have joint ownership of a vehicle and both your name and the co-owner’s name appear on the title. However, if you lost or misplaced the title, you will need to request a duplicate title to replace the original at your local Motor Vehicles Office.1
- A Valid, Government-Issued Photo Identification: You must use a valid, government-issued photo ID card to prove your identity to a LoanMart title loan agent. Borrowers can easily present their passports, driver’s licenses, or other government-issued identification cards during the approval process.1
- Recent Photos of Your Car: An inspection is required to verify your vehicle’s overall condition and value before you can qualify for quick funding through a title loan.1 3 You will be unable to find a lender who offers car title loans with no inspection in Arkansas. Nevertheless, just like the application process, you can complete the vehicle inspection online as well! You will need to use your smartphone to take clear pictures of your vehicle’s hood, rear, sides, odometer reading, and Vehicle Identification Number (VIN). You could send the photos to a title loan representative online as soon as they are ready.1
- Proof of Reliable Income: A prospective borrower does not need a specific type of job to qualify for an Arkansas title loan, but they must provide proof of their ability to repay the loan. Some of the documents that you can use to demonstrate your capacity to afford a loan are recent pay stubs, pension income statements, bank statements, and disability award letters.1
One of the many benefits of applying for a car title loan serviced by LoanMart is that you can upload these documents online with your smartphone or computer! You can also email or text them to a title loan agent during your application if that is easier for you.
Experian reported that 44.8% of Arkansas residents are struggling to pay for their household expenses. If you are in that demographic and need fast cash, you can apply for the financial help you need through an auto title loan! The application process takes no time at all, and you can have quick funding within 24 hours if you qualify.1 3 Don’t hesitate to dial 855-422-7412 if you want to learn more about applying for auto title loans in Arkansas.
Can I Get Car Title Loans with No Credit Check in Arkansas?
You may not be able to find a lender who offers title loans with no credit check in Arkansas, regardless of whether you choose to apply in a store, online, or over the phone. When you are applying for a title loan, credit card, or personal loan, most reputable lenders will review your credit history during your application in order to assess your creditworthiness.
However, it’s worth mentioning that applicants with bad credit can still apply for online title loans in Arkansas.1 Contact a title loan agent from LoanMart at 855-422-7412 to start your application or ask any questions you may have about applying for car title loans with bad credit in Arkansas. If you’re eligible for funding, you can access competitive interest rates, a convenient online portal to keep track of your loan payments, and zero prepayment penalties!1 5
Where Can I Apply for Instant Online Title Loans in Arkansas?
The application process for a title loan cannot be instantaneous because your information and paperwork must be reviewed in a timely manner by a title loan agent, so you won’t be able to find instant auto equity loans anywhere in Arkansas.
You can’t get instant title loans, but that shouldn’t stop you from applying for the fast cash you need! With LoanMart, you can expect to experience an approval process that is streamlined and designed to help borrowers experiencing financial distress. Take a closer look at the simple, three-step application process for online title loans in Arkansas:1 3
- Submit a Brief Prequalification Form Online or Over the Phone with a Title Loan Representative at 855-422-7412
- Submit Your Documents Online In Order to Verify Your Information
- Find Out if You Can Qualify for Emergency Cash Through an Arkansas Title Loan!1
What are the Benefits of an Online Title Loan in Arkansas?
A qualified borrower can experience many valuable benefits by choosing to apply for a title loan serviced by LoanMart in Arkansas. Here are some benefits you could take advantage of if you are eligible for an Arkansas title loan:1
- Flexible and Streamlined Application: With LoanMart, the application process for auto title loans in Arkansas can be flexible, simple, and convenient! While getting title loans with instant approval in Arkansas will be downright impossible, you can apply for an online title loan serviced by LoanMart and see if you qualify for instant pre-approval now!1 3 Call a title loan agent at 855-422-7412 for more information.
- Keep Your Car Keys: You do not need to immediately hand your keys over to your lender during the repayment process. Even though you’re using your car’s title to secure your Arkansas title loan, you could continue driving your vehicle as long as you’re on time with monthly payments!
- Convenient Funding Process: The convenience of applying for an Arkansas title loan serviced by LoanMart means you don’t have to travel anywhere to receive your money. Instead, if you obtain loan approval, you can choose direct deposit to get your quick funding in as little as 24 hours!1 3 Call 855-422-7412 to learn more about getting title loans with direct deposit in Arkansas.
Get started on your loan application by filling out a short pre-approval form online. If you are eligible for a car title loan in Arkansas, you can obtain emergency cash in no time at all!1 3
Pay Back Your Title Loan Serviced by LoanMart in Arkansas
Because Title loans serviced by LoanMart are so innovative, borrowers could receive advantages with the funding process. Title loans serviced by LoanMart allow eligible people to have access to emergency funding without having to travel too far.1
Title loans serviced by LoanMart allow eligible borrowers to repay their loans in a convenient way. No matter where you are in the state, chances are that there will be a MoneyGram location near where you live or along your daily commute.
Not sure where the closest MoneyGram location is to you? Check out the map below along, which features a dropdown list of a few MoneyGram locations throughout the state of Arkansas:
Demographic and Financial Statistics for Arkansas
The figures below are intended for informational and educational purposes to allow consumers to compare their financial situation to others in Arkansas. Empowered with this data, we hope you can make a sound decision to solve your financial needs - if you decide that a title loan is a potential option, we’d be thrilled to assist you.
|Average credit score (VantageScore®)
|Average FICO® score
|Average student loan debt
|Average credit card debt
|Average monthly car loan payment
|Share of households that rent
|Median gross rent
|Median value of owner-occupied housing units
|Median monthly owner costs - with a mortgage
|Median monthly owner costs
|Number of bank branches
|Median household income
|Per capita income
|Average title loan amount