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Arlington has several quick financing options, even if your credit score is less than perfect. And it’s one of a handful of cities in Texas that has local regulations to protect you. But even with that, there’s no limit to how much a lender can charge, so you’ll likely find APRs in the triple digits.
Yes, you can get a payday loan in Arlington, Texas. In addition to state laws, Arlington his its own ordinance that regulates payday loans. Here’s what you can expect:
Learn more about Texas state regulations by checking out our guide.
Need to borrow more than 20% of your monthly income? Consider a title loan instead. In Arlington, you can borrow up to either 70% of the retail value of your car or 3% of your annual income, whichever is less.
Read our guide to Texas title loans for more details on what to expect.
You may have noticed that there are more credit access bureaus than short-term lenders in Arlington. Credit access bureaus don’t actually issue payday loans, but instead connect borrowers with a third-party lender for a fee. Even though they aren’t technically lenders, Texas law requires these businesses to be licensed — and to display it prominently.
Speak Spanish or Vietnamese — or know someone who does? Arlington requires credit access bureaus to provide contracts in those languages as well.
What you need to apply varies depending on your lender or credit access bureau. Generally, you need to meet the following requirements to be eligible:
You’ll also need to provide some or all of the following documents:
Don’t let the fact that Arlington has additional regulations fool you — short-term lenders still have no limits to what APRs they can charge.
Go over your personal finances before you take out a loan to make sure you can afford to repay it on time. If not, consider taking out a credit card cash advance or reaching out to local resources. You also might want to see if a nearby federal credit union offers payday alternative loans, which come with rates capped at 28%.
Payday, installment and title loans may be fast financing solutions for Arlington residents, but they don’t come cheap. Make sure your provider is licensed and meets all state requirements before applying.
Interested in learning more about how payday loans work? Check out our comprehensive guide.
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