In this post, I will introduce you to about 3 car title loans you can apply for here in Arkansas.
However, note that I am not endorsing any of the title loans I would mention in this post. I have no personal experience with them and therefore cannot give your firsthand information about their services.
But, I will write about the best of them according to an extensive research carried out by me.
Car Title Loans in Arkansas
Below are some of the sites you can apply for car title loans online in Arkansas;
ChoiceCash Title Loans by LoanMart
800LoanMart is a verified company owned by the Wheels Financial Group LLC. They have their main office situated at Van Nuys in California but in many states.
LoanMart operates in many US states including Arkansas, Alaska, Arizona, Indiana, California, New Mexico, etc.
Also, they are verified on Trustpilot and have 4.7 ratings from 355 customer reviews.
When you apply for title loans through LoanMart website, you will be redirected to the ChoiceCash website. There, you can create an account. This account would be used for the application and to track your loan repayments.
Alternatively, you can decide to apply for the title loan by calling their hotline or going into any of their participating stores.
After you must have filled online application, you will have to send in your documents which includes your government issued ID and the title of your car. This can be by email or fax.
Upon receipt of your documents, your will be approved and the loan amount would be made available to at a nearby Moneygram point.
Your repayment plans would be given in your ChoiceCash account.
Max Cash Title Loans
Max Cash title loans operates in more than 30 American States including Arkansas, Arizona, Nebraska, Ohio, Utah, Texas, etc.
The process of applying is pretty straightforward like ChoiceCash.
You can apply using the online application form which is equipped with an estimate calculator.
Their free estimate calculator allows you to put information about you and your car in a structured manner.
Once these pieces of information are put together, you will get a pre-approved loan offer according to the estimated value of your car.
If you agree with the estimate, you may then proceed to request for the loan, send your documents and get paid in exchange with your car’s title. Max Cash title loans uses KBB’s My Car’s Value tool to estimate your car’s value.
Alternatively, you may also apply for a loan by calling their phone number: (855) 561-5626 and talking to an agent. You may be asked a few information about yourself and vehicle.
Once finally approved for loan, you may choose to receive your loan through ACH, cash store and wire transfer.
The APR of these loans is not fixed and so may vary according to loan amount and ability of the borrower to repay. However, the APR range from 29.90% to 35.99% and the maximum loan possible is $50000.
Family Title Loans
Family title loans is another lending company that gives loans to customers with their car’s title as collateral. The company is owned and operated by Six Sigma Consulting LLC.
It operates in many US states like Texas, Arizona, Illinois, Georgia, and Arkansas.
Family title loans has an APR of 19.99%. They then break loan amount plus interest into 36 monthly repayments.
For example, in the picture above, the 2019 BMW i8 2D Coupe qualifies for up to $50000 loan according the estimate. Although, I can decide to not borrow up to 50 grand. The repayment period is 3 years, which means I would pay 19.99 percent every year.
According to that example, I am to pay $2222.22 monthly for 36 months. The total amount of loan plus interest I would have to pay in those months is $79999.92. This is $29999.2 interest on a $50000 loan.
This total interest in 3 years becomes 59.99% of my initial loan amount. This is what applies to every loan requested.
You can apply for between $2500 to $50000 on a particular vehicle if that value exceeds 50 grand.
These are the best car title loans in Arkansas with no credit checks. You can check them all out in order to choose the best one for you. I have compiled an at a glance table for them below. You may also use the table for comparison.
|Title Loans||APR||Max Loan Amount ($)||Repayment Period||Preapproval||Credit Check|
|ChoiceCash by LoanMart||60% and above||50000||12 – 36 months||Yes||No|
|Max Cash Title Loans||29.90% – 35.99%||50000||6 -12 months||Yes||No|
|Family Title Loans||19.99%||50000||Up to 36 months||Yes||No|