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How to use or fill out Arkansas Promissory Note in Connection with Sale of Vehicle or Automobile
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Click ‘Get Form’ to open it in the editor.
Begin by entering the total amount of the loan in the first blank space, followed by the county and date at the top of the form.
In the section labeled 'FOR VALUE RECEIVED', fill in the names of the Buyer(s) and Seller(s), along with their addresses. Specify the loan amount again in words and numbers.
Indicate whether interest will be charged, and if so, specify the percentage rate. Fill in the monthly installment amount and due date for payments.
Complete details about default terms, including costs associated with collection and repossession rights.
Identify the vehicle being sold by filling out its make, model, year, and VIN. Choose whether title will be retained by Seller or transferred to Buyer.
Finally, have all parties sign at the bottom of the document, providing their Social Security numbers as required.
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