<SEC-DOCUMENT>0001171843-18-008379.txt : 20181207
<SEC-HEADER>0001171843-18-008379.hdr.sgml : 20181207
<ACCEPTANCE-DATETIME>20181207162615
ACCESSION NUMBER:		0001171843-18-008379
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20181203
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181207
DATE AS OF CHANGE:		20181207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAS CARMART INC
		CENTRAL INDEX KEY:			0000799850
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				630851141
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14939
		FILM NUMBER:		181223812

	BUSINESS ADDRESS:	
		STREET 1:		802 SOUTHEAST PLAZA AVE.
		STREET 2:		SUITE 200
		CITY:			BENTONVILLE
		STATE:			AR
		ZIP:			72712
		BUSINESS PHONE:		(479) 464-9944

	MAIL ADDRESS:	
		STREET 1:		802 SOUTHEAST PLAZA AVE.
		STREET 2:		SUITE 200
		CITY:			BENTONVILLE
		STATE:			AR
		ZIP:			72712

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROWN GROUP INC /TX/
		DATE OF NAME CHANGE:	19971022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROWN CASINO CORP
		DATE OF NAME CHANGE:	19931104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SKYLINK AMERICA INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_120718.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Washington D.C. 20549</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM 8-K</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CURRENT REPORT </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Date of Report (Date of earliest event reported): <B>December 3,
2018</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>AMERICA&rsquo;S CAR-MART, INC.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 33%; text-align: center"><B>Texas</B></TD>
    <TD STYLE="width: 34%; text-align: center"><B>0-14939</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>63-0851141</B></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission file number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>802 SE Plaza Avenue, Suite 200, Bentonville, Arkansas 72712</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Address of principal executive offices, including zip code)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(479) 464-9944</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Registrant&rsquo;s telephone number, including area code)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"> [&nbsp;&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"> [&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"> [&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"> [&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule&nbsp;12b-2&nbsp;of the Securities Exchange Act of 1934
(17 CFR&nbsp;&sect;240.12b-2).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Emerging growth company [&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant has elected not
to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. [&nbsp;&nbsp;&nbsp;]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.5pt"><B>Item 1.01.</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">On December 3, 2018, America&rsquo;s Car-Mart, Inc.,
a Texas corporation (the &ldquo;Company&rdquo;), and its subsidiaries, Colonial Auto Finance, Inc., an Arkansas corporation (&ldquo;Colonial&rdquo;),
America&rsquo;s Car Mart, Inc., an Arkansas corporation (&ldquo;ACM&rdquo;), and Texas Car-Mart, Inc., a Texas corporation (&ldquo;TCM&rdquo;),
entered into Amendment No. 2 to the Second Amended and Restated Loan and Security Agreement (&ldquo;Agreement&rdquo;), dated as
of December 3, 2018, by and among the Company, Colonial, ACM, TCM and a group of lenders.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">Amendment No. 2 to the Agreement (the &ldquo;Amendment&rdquo;)
extends the term of the Company&rsquo;s revolving credit facilities to December 3, 2021 and increases the total permitted borrowings
from $200 million to $215 million, including an increase in the Colonial revolving line of credit from $190 million to $205 million.
The ACM-TCM revolving line of credit commitment remains the same at $10 million. At October 31, 2018, the end of the Company&rsquo;s
second fiscal quarter, there was approximately $35 million in additional availability under the Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">The Amendment also reduces the current applicable interest
rate by 0.10% to the lowest applicable pricing tier at LIBOR plus 2.25% until May 31, 2019. After May 31, 2019, the applicable
interest rate will again be subject to adjustment in accordance with the four pricing tiers set forth in the Amendment based on
the Company&rsquo;s consolidated leverage ratio for the preceding fiscal quarter.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">The descriptions above are summaries and are qualified
in their entirety by Amendment No. 2, which is filed as an exhibit to this report and is incorporated herein by reference.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.5pt"><B>Item 2.03.</B></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
of a Registrant.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -49.5pt; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0pt; margin: 0pt 0 0pt 49.5pt">The information set forth above under
Item 1.01 is hereby incorporated by reference into this Item 2.03.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 49.5pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.5pt"><B>Item 5.02.</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -49.5pt; margin: 0pt 0 0pt 49.5pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">On December 4, 2018, the Board of Directors of the Company
elected Ann G. Bordelon as a new, independent director, effective January 1, 2019. Ms. Bordelon will serve until the Company&rsquo;s
2019 Annual Meeting of Stockholders, and until such time as her successor is duly elected and qualified, or until her earlier
resignation or removal. This appointment fills the vacancy resulting from the previously announced retirement of Robert &ldquo;Cameron&rdquo;
Smith from the Board of Directors in August 2018. Ms. Bordelon was appointed to the audit, compliance and nominating committees
of the Board.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">Ms. Bordelon, age 51, is the Chief Financial Officer
of Mitchell Communications Group, a leading integrated public relations agency. Mitchell is the public relations flagship of the
Dentsu-Aegis Network. Prior to her role with Mitchell Communications Group, Ms. Bordelon served from October 2015 to March 2017
as Chief Financial and Administrative Officer of NOWDiagnostics, Inc., an early stage company developing rapid medical diagnostic
testing devices, and she continues to serve as an advisor to the company. Ms. Bordelon retired from Walmart in 2015 after serving
the company for nearly 13 years as CFO of Walmart&rsquo;s Sam&rsquo;s Club division, CFO of Walmart&rsquo;s Asia Region, and as
Chief Audit Executive, among other financial roles. She is the chair of the Dean&rsquo;s Executive Advisory Board for the Sam M.
Walton College of Business at the University of Arkansas. Ms. Bordelon, a Certified Public Accountant, holds a Bachelor of Science
in Business Administration degree from the University of Arkansas.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">The Company has in the past and is currently utilizing
Mitchell Communications Group for web site development, social media development and digital efforts. The Company paid Mitchell
Communications Group $250,000 and $86,000 for those services in fiscal 2018 and fiscal 2019, respectively. The Company does not
currently anticipate engaging Mitchell Communications Group for services beyond December 2018.</P>



<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">There is no arrangement or understanding between Ms.
Bordelon and any other persons pursuant to which Ms. Bordelon was selected as director.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 49.5pt">Item 9.01.</TD><TD>Financial Statements and Exhibits</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">(d) Exhibits.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="http://www.sec.gov/Archives/edgar/data/799850/000117184316013671/exh_41.htm">4.1</A></TD><TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/799850/000117184316013671/exh_41.htm">Second Amended and Restated Loan and Security Agreement dated December 12, 2016, among America&rsquo;s
Car-Mart, Inc., a Texas corporation, as Parent; Colonial Auto Finance, Inc., an Arkansas corporation, America&rsquo;s Car Mart,
Inc., an Arkansas corporation, and Texas Car-Mart, Inc., a Texas corporation, as Borrowers; and certain financial institutions,
as Lenders, with Bank of America N.A., as Agent, Lead Arranger and Book Manager (Incorporated by reference to Exhibit 4.1 to the
Company&rsquo;s Current Report on Form 8-K filed with the SEC on December 15, 2016).</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -27pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="http://www.sec.gov/Archives/edgar/data/799850/000117184317006370/exh_42.htm">4.2</A></TD><TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/799850/000117184317006370/exh_42.htm">Amendment No. 1 to Second Amended and Restated Loan and Security Agreement dated October 25, 2017,
among America&rsquo;s Car-Mart, Inc., a Texas corporation, as Parent; Colonial Auto Finance, Inc., an Arkansas corporation, America&rsquo;s
Car Mart, Inc., an Arkansas corporation, and Texas Car-Mart, Inc., a Texas corporation, as Borrowers; and certain financial institutions,
as Lenders, with Bank of America N.A., as Agent, Lead Arranger and Book Manager (Incorporated by reference to Exhibit 4.2 to the
Company&rsquo;s Current Report on Form 8-K filed with the SEC on October 30, 2017).</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -27pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="exh_43.htm">4.3</A></TD><TD STYLE="text-align: justify"><A HREF="exh_43.htm">Amendment No. 2 to Second Amended and Restated Loan and Security Agreement dated December 3, 2018,
among America&rsquo;s Car-Mart, Inc., a Texas corporation, as Parent; Colonial Auto Finance, Inc., an Arkansas corporation, America&rsquo;s
Car Mart, Inc., an Arkansas corporation, and Texas Car-Mart, Inc., a Texas corporation, as Borrowers; and certain financial institutions,
as Lenders, with Bank of America N.A., as Agent, Lead Arranger and Book Manager.</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -27pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="exh_44.htm">4.4</A></TD><TD STYLE="text-align: justify"><A HREF="exh_44.htm">Colonial Revolver Note dated December 3, 2018 by Colonial Auto Finance, Inc. in favor of First
Tennessee Bank, as Lender.</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -27pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="exh_45.htm">4.5</A></TD><TD STYLE="text-align: justify"><A HREF="exh_45.htm">Colonial Revolver Note dated December 3, 2018 by Colonial Auto Finance, Inc. in favor of Arvest
Bank, as Lender.</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -27pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><A HREF="exh_46.htm">4.6</A></TD><TD STYLE="text-align: justify"><A HREF="exh_46.htm">Colonial Revolver Note dated December 3, 2018 by Colonial Auto Finance, Inc. in favor of Commerce
Bank, as Lender.</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">SIGNATURES</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>America&rsquo;s Car-Mart, Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%">Date: December 7, 2018</TD>
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid">/s/ Vickie D. Judy</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Chief Financial Officer and Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(Principal Financial Officer)</TD></TR>
</TABLE>
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<DESCRIPTION>EXHIBIT 4.3
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: right; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; margin: 0pt 0">AMENDMENT NO. 2 TO<BR>
SECOND AMENDED AND RESTATED</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; margin: 0pt 0">LOAN AND SECURITY AGREEMENT<BR>
<BR>
</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This <B>AMENDMENT NO. 2 TO SECOND AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT</B> (&ldquo;<U>Amendment</U>&rdquo;) is dated as of December 3, 2018 and is entered into by
and among <B>AMERICA&rsquo;S CAR-MART, INC.</B>, a Texas corporation (&ldquo;<U>Parent</U>&rdquo;), <B>COLONIAL AUTO FINANCE, INC.</B>,
an Arkansas corporation (&ldquo;<U>Colonial</U>&rdquo;), <B>AMERICA&rsquo;S CAR MART, INC.</B>, an Arkansas corporation (&ldquo;<U>ACM</U>&rdquo;),
<B>TEXAS CAR-MART, INC.</B>, a Texas corporation (&ldquo;<U>TCM</U>&rdquo;)(each of Colonial, ACM and TCM, a &ldquo;<U>Borrower</U>&rdquo;,
and collectively, &ldquo;<U>Borrowers</U>&rdquo;), the financial institutions party to the Loan Agreement (as hereinafter defined)
as lenders (collectively, &ldquo;<U>Lenders</U>&rdquo;), <B>BANK OF AMERICA, N.A.</B>, as agent for the Lenders (in such capacity,
&ldquo;<U>Agent</U>&rdquo;), lead arranger and book manager for the Lenders. All capitalized terms used herein but not otherwise
defined shall have the meanings ascribed to them in the Loan Agreement (as hereinafter defined).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center"><U>WITNESSETH</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">WHEREAS, Parent, Borrowers, Lenders and Agent
have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of December 12, 2016 (as amended,
amended and restated, modified, supplemented or renewed prior to the date hereof, the &ldquo;<U>Loan Agreement</U>&rdquo;);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">WHEREAS, Parent, Borrowers, Lenders and Agent
have agreed to amend the Loan Agreement subject to the terms and conditions stated herein; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">NOW, THEREFORE, in consideration of the premises
herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Lenders,
Agent, Parent and Borrowers hereby agree as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">I.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Amendment to the Loan Agreement</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following definitions are hereby added to Section 1.1 of the Loan Agreement in alphabetical order as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in"><U>Beneficial Ownership Certification</U>:
a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in"><U>Beneficial Ownership Regulation</U>:
means 31 C.F.R. &sect; 1010.230.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in"><U>Amendment No. 2 Effectiveness
Date</U>: December 3, 2018.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following definitions as set forth in Section 1.1 of the Loan Agreement are hereby amended and restated in their entirety
to read as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in"><U>ACM-TCM Revolver Termination Date</U>:
December 3, 2021.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in"><U>Applicable Margin</U>: with respect
to any Type of Revolver Loan, the margin set forth below, as determined by the Leverage Ratio for the last Fiscal Quarter:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 11%; border: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><U>Level</U></TD>
    <TD STYLE="width: 49%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><U>Leverage Ratio</U></TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><U>Base Rate Revolver Loans</U></TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><U>LIBOR Revolver Loans</U></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">I</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">&lt; 0.75:1.00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">0%</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">2.25%</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">II</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-decoration: underline; text-align: center; text-indent: 0in"><U>&gt;</U> 0.75:1.00 and &lt; 1.50:1.00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">0%</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">2.35%</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">III</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-decoration: underline; text-align: center; text-indent: 0in"><U>&gt;</U> 1.50:1.00 and &lt; 1.75:1.00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">0.25%</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">2.75%</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">IV</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt"><U>&gt;</U> 1.75:1.00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">0.50%</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in; font-size: 10pt">3.00%</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in"><BR>
Until May 31, 2019, margins shall be determined as if Level I were applicable. Thereafter, the margins shall be subject to increase
or decrease upon receipt by Agent pursuant to <B>Section 10.1.2</B> of the financial statements and corresponding Compliance Certificate
for the last Fiscal Quarter, which change shall be effective on the first day of the calendar month following receipt. If, by the
first day of a month, any financial statements and Compliance Certificate due in the preceding month have not been received, then
the margins shall be determined as if Level IV were applicable, from such day until the first day of the calendar month following
actual receipt.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in"><U>Colonial Revolver Termination Date</U>:
December 3, 2021.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Section 10.1.15</U> is hereby added to the Loan Agreement as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in">10.1.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Beneficial
Ownership, etc</U>. Promptly following any request therefor, provide information and documentation reasonably requested by the
Agent or any Lender for purposes of compliance with applicable &ldquo;know your customer&rdquo; and anti-money-laundering rules
and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0.5in 0pt 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Schedule 1.1 to the Loan Agreement is hereby deleted and replaced with Schedule 1.1 attached hereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">II.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Conditions</U>. The effectiveness of this Amendment is subject to the satisfaction of the following conditions
precedent:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment</U>. Fully executed copies of this Amendment signed by Parent, Borrowers and Lenders shall have been delivered
to Agent.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Beneficial Ownership</U>. The information included in the Beneficial Ownership Certification, if applicable, is true
and correct in all respects.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notes</U>. To the extent requested by any Lender in connection with this Amendment, Borrowers shall have executed and
delivered promissory notes to such Lender.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Documents</U>. Borrowers shall have executed and delivered to Agent such other documents and instruments as Agent
may reasonably require.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">III.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Miscellaneous</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Survival of Representations and Warranties</U>. All representations and warranties made in the Loan Agreement or any
other document or documents relating thereto, including, without limitation, any Loan Document furnished in connection with this
Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents, and no investigation by Agent
or the Lenders shall affect the representations and warranties or the right of Agent or the Lenders to rely thereon.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reference to Loan Agreement</U>. The Loan Agreement, each of the Loan Documents, and any and all other agreements, documents
or instruments now or hereafter executed and delivered pursuant to the terms hereof, or pursuant to the terms of the Loan Agreement
as amended hereby, are hereby amended so that any reference therein to the Loan Agreement shall mean a reference to the Loan Agreement
as amended hereby.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Loan Agreement Remains in Effect</U>. The Loan Agreement and the Loan Documents, as amended hereby, remain in full force
and effect and Parent and each Borrower ratifies and confirms its agreements and covenants contained therein. Parent and each Borrower
hereby confirms that to the best of its knowledge no Event of Default or Default exists.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held
to be invalid or unenforceable.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">E.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Amendment may be executed in one or more counterparts, each of which when so executed shall be
deemed to be an original, but all of which when taken together shall constitute one and the same instrument.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">F.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings</U>. The headings, captions and arrangements used in this Amendment are for convenience only and shall not affect
the interpretation of this Amendment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">G.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>NO ORAL AGREEMENTS</U>. THIS AMENDMENT, TOGETHER WITH THE OTHER LOAN DOCUMENTS AS WRITTEN, REPRESENTS THE FINAL AGREEMENT
BETWEEN LENDERS, AGENT AND BORROWERS AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN AGENT, LENDERS AND BORROWERS.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">IN WITNESS WHEREOF, the parties have executed
this Amendment under seal on the date first written above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><B><U>BORROWERS</U></B>:</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: left; text-indent: 0in; font-size: 10pt"><B>COLONIAL AUTO FINANCE, INC</B>.,<BR>
an Arkansas corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By: </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: left; text-indent: 0in; font-size: 10pt"><B>AMERICA&rsquo;S CAR MART, INC</B>.,<BR>
an Arkansas corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By: </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vice President &amp; Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: left; text-indent: 0in; font-size: 10pt"><B>TEXAS CAR-MART, INC.,</B><BR>
a Texas corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By: </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vice President &amp; Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify; text-indent: 0in; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><B><U>PARENT</U></B>:</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: left; text-indent: 0in; font-size: 10pt"><B>AMERICA&rsquo;S CAR-MART, INC.</B>,<BR> a Texas corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vickie D. Judy</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Chief Financial Officer &amp; Secretary</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 82%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 100%; text-align: left; text-indent: 0in; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><B><U>AGENT AND LENDERS</U></B>:</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in; font-size: 10pt"><B>BANK OF AMERICA, N.A.</B><BR>
as Agent and Lender</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt; border-bottom: Black 1pt solid">/s/ Carlos Gil</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt; border-bottom: Black 1pt solid">Carlos Gil</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt; border-bottom: Black 1pt solid">Senior Vice President</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">


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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<BR STYLE="clear: both">
<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: left; text-indent: 0in; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><B>BOKF, NA D/B/A BANK OF ARKANSAS</B>,<BR> as Lender</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Jacob Hudson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Jacob Hudson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Senior Vice President</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 76%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left; text-indent: 0in; font-size: 10pt"><B>FIRST TENNESSEE BANK, NATIONAL ASSOCIATION,</B> <BR>
as Lender<BR>
<BR>
</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Blake Chandler</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Blake Chandler</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vice President</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%">&nbsp;</TD>
    </TR>
</TABLE><BR STYLE="clear: both">
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left; text-indent: 0in; font-size: 10pt"><B>ARVEST BANK,</B> <BR>
as Lender<BR>
<BR>
</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Robert E. Bresnahan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Robert E. Bresnahan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">AVP</TD></TR>
<TR>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%">&nbsp;</TD>
    </TR>
</TABLE>

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<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left; text-indent: 0in; font-size: 10pt"><B>COMMERCE BANK</B>,<BR>
as Lender<BR>
<BR>
</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">/s/ Adam Hensley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Adam Hensley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; text-indent: 0in; font-size: 10pt">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; font-size: 10pt">Vice President</TD></TR>
<TR>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 83%">&nbsp;</TD>
    </TR>
</TABLE><P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement</FONT></P>



<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">SCHEDULE 1.1</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">To</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">Second Amended and Restated Loan and Security Agreement</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom; width: 25%; border: Black 1pt solid">
        <P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><U>Lender</U></P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: top; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><U>Colonial Revolver Commitment</U></TD>
    <TD STYLE="vertical-align: top; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><U>ACM-TCM Revolver Commitment</U></TD>
    <TD STYLE="vertical-align: bottom; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in"><U>Total Revolver Commitment</U></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">Bank of America, N.A.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$91,200,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$4,800,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$96,000,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">BOKF,NA d/b/a Bank of Arkansas</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$41,800,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$2,200,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$44,000,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">First Tennessee Bank</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$28,750,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$1,250,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$30,000,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">Arvest Bank</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$24,050,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$950,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$25,000,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">Commerce Bank</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$19,200,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$800,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">$20,000,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">Total: $205,000,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">Total: $10,000,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; text-indent: 0in">Total: $215,000,000</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="text-transform: uppercase">Schedule 1.1</FONT></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="text-transform: uppercase"></FONT></P>

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<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="text-transform: uppercase"></FONT></P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B></B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>3
<FILENAME>exh_44.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.4</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B></B></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">EXECUTION COPY</P>



<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center"><U>COLONIAL REVOLVER NOTE</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">December 3, 2018</TD>
    <TD STYLE="width: 34%; text-align: center">$28,750,000</TD>
    <TD STYLE="width: 33%; text-align: right">Bentonville, Arkansas</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>, an Arkansas
corporation (&ldquo;<U>Borrower</U>&rdquo;), for value received, hereby unconditionally promise to pay to the order of <B>FIRST
TENNESSEE BANK</B>, <B>NATIONAL ASSOCIATION</B> (&ldquo;<U>Lender</U>&rdquo;), the principal sum of <B>TWENTY-EIGHT MILLION SEVEN
HUNDRED FIFTY THOUSAND DOLLARS ($28,750,000)</B>, or such lesser amount as may be advanced by Lender as Colonial Revolver Loans
and owing as LC Obligations from time to time under the Loan Agreement described below, together with all accrued and unpaid interest
thereon. Terms are used herein as defined in the Second Amended and Restated Loan and Security Agreement dated as of December 12,
2016, among Borrower, America&rsquo;s Car Mart, Inc., an Arkansas corporation, Texas Car-Mart, Inc., a Texas corporation, America&rsquo;s
Car-Mart, Inc., a Texas corporation, Bank of America, N.A., as Agent, Lead Arranger and Book Manager, Lender, and certain other
financial institutions, as such agreement may be amended, modified, renewed or extended from time to time (the &ldquo;<U>Loan Agreement</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Principal of and interest on this Note from
time to time outstanding shall be due and payable as provided in the Loan Agreement. This Note is issued pursuant to and evidences
Colonial Revolver Loans and LC Obligations under the Loan Agreement, to which reference is made for a statement of the rights and
obligations of Lender and the duties and obligations of Borrower. The Loan Agreement contains provisions for acceleration of the
maturity of this Note upon the happening of certain stated events, and for the borrowing, prepayment and reborrowing of amounts
upon specified terms and conditions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The holder of this Note is hereby authorized
by Borrower to record on a schedule annexed to this Note (or on a supplemental schedule) the amounts owing with respect to Colonial
Revolver Loans and LC Obligations, and the payment thereof. Failure to make any notation, however, shall not affect the rights
of the holder of this Note or any obligations of Borrower hereunder or under any other Loan Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Time is of the essence of this Note. Borrower
and all endorsers, sureties and guarantors of this Note hereby severally waive demand, presentment for payment, protest, notice
of protest, notice of intention to accelerate the maturity of this Note, diligence in collecting, the bringing of any suit against
any party, and any notice of or defense on account of any extensions, renewals, partial payments, or changes in any manner of or
in this Note or in any of its terms, provisions and covenants, or any releases or substitutions of any security, or any delay,
indulgence or other act of any trustee or any holder hereof, whether before or after maturity. Borrower agrees to pay, and to save
the holder of this Note harmless against, any liability for the payment of all costs and expenses (including without limitation
reasonable attorneys&rsquo; fees) if this Note is collected by or through an attorney-at-law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In no contingency or event whatsoever shall
the amount paid or agreed to be paid to the holder of this Note for the use, forbearance or detention of money advanced hereunder
exceed the highest lawful rate permitted under Applicable Law. If any such excess amount is inadvertently paid by Borrower or inadvertently
received by the holder of this Note, such excess shall be returned to Borrower or credited as a payment of principal, in accordance
with the Loan Agreement. It is the intent hereof that Borrower not pay or contract to pay, and that holder of this Note not receive
or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by Borrower
under Applicable Law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note shall be governed by the laws of the
State of California, without giving effect to any conflict of law principles (but giving effect to federal laws relating to national
banks).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is executed in renewal, amendment
and restatement of, but not in novation, extinguishment, discharge or satisfaction of the indebtedness evidenced by, all prior
Colonial Revolver Note(s) made by Colonial Auto Finance, Inc., an Arkansas corporation, payable to the order of <B>FIRST TENNESSEE
BANK, NATIONAL ASSOCIATION</B> (as such note(s) has been amended, restated, supplemented or otherwise modified from time to time
prior to the date hereof, the &ldquo;<U>Prior Note(s)</U>&rdquo;). All amounts outstanding under the Prior Note(s) as of the date
hereof are outstanding under the Loan Agreement and due and payable in accordance with the terms of the Loan Agreement and this
Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[<I>Signature Page Follows</I>]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, this Note is executed
as of the date set forth above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>,</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">an Arkansas corporation</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">By: __<U>/s/ Vickie D. Judy</U>_________________</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Name: Vickie D. Judy</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Title: Secretary</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Colonial Revolver Note</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Signature Page</P>



<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>



<P STYLE="margin: 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0; text-align: left"><B></B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>4
<FILENAME>exh_45.htm
<DESCRIPTION>EXHIBIT 4.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.5</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">EXECUTED COPY</P>



<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center"><U>COLONIAL REVOLVER NOTE</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">December 3, 2018</TD>
    <TD STYLE="text-align: center; width: 34%">$24,050,000</TD>
    <TD STYLE="text-align: right; width: 33%">Bentonville, Arkansas</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>, an Arkansas
corporation (&ldquo;<U>Borrower</U>&rdquo;), for value received, hereby unconditionally promise to pay to the order of <B>ARVEST
BANK</B> (&ldquo;<U>Lender</U>&rdquo;), the principal sum of <B>TWENTY-FOUR MILLION FIFTY THOUSAND DOLLARS ($24,050,000)</B>, or
such lesser amount as may be advanced by Lender as Colonial Revolver Loans and owing as LC Obligations from time to time under
the Loan Agreement described below, together with all accrued and unpaid interest thereon. Terms are used herein as defined in
the Second Amended and Restated Loan and Security Agreement dated as of December 12, 2016, among Borrower, America&rsquo;s Car
Mart, Inc., an Arkansas corporation, Texas Car-Mart, Inc., a Texas corporation, America&rsquo;s Car-Mart, Inc., a Texas corporation,
Bank of America, N.A., as Agent, Lead Arranger and Book Manager, Lender, and certain other financial institutions, as such agreement
may be amended, modified, renewed or extended from time to time (the &ldquo;<U>Loan Agreement</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Principal of and interest on this Note from
time to time outstanding shall be due and payable as provided in the Loan Agreement. This Note is issued pursuant to and evidences
Colonial Revolver Loans and LC Obligations under the Loan Agreement, to which reference is made for a statement of the rights and
obligations of Lender and the duties and obligations of Borrower. The Loan Agreement contains provisions for acceleration of the
maturity of this Note upon the happening of certain stated events, and for the borrowing, prepayment and reborrowing of amounts
upon specified terms and conditions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The holder of this Note is hereby authorized
by Borrower to record on a schedule annexed to this Note (or on a supplemental schedule) the amounts owing with respect to Colonial
Revolver Loans and LC Obligations, and the payment thereof. Failure to make any notation, however, shall not affect the rights
of the holder of this Note or any obligations of Borrower hereunder or under any other Loan Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Time is of the essence of this Note. Borrower
and all endorsers, sureties and guarantors of this Note hereby severally waive demand, presentment for payment, protest, notice
of protest, notice of intention to accelerate the maturity of this Note, diligence in collecting, the bringing of any suit against
any party, and any notice of or defense on account of any extensions, renewals, partial payments, or changes in any manner of or
in this Note or in any of its terms, provisions and covenants, or any releases or substitutions of any security, or any delay,
indulgence or other act of any trustee or any holder hereof, whether before or after maturity. Borrower agrees to pay, and to save
the holder of this Note harmless against, any liability for the payment of all costs and expenses (including without limitation
reasonable attorneys&rsquo; fees) if this Note is collected by or through an attorney-at-law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In no contingency or event whatsoever shall
the amount paid or agreed to be paid to the holder of this Note for the use, forbearance or detention of money advanced hereunder
exceed the highest lawful rate permitted under Applicable Law. If any such excess amount is inadvertently paid by Borrower or inadvertently
received by the holder of this Note, such excess shall be returned to Borrower or credited as a payment of principal, in accordance
with the Loan Agreement. It is the intent hereof that Borrower not pay or contract to pay, and that holder of this Note not receive
or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by Borrower
under Applicable Law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note shall be governed by the laws of the
State of California, without giving effect to any conflict of law principles (but giving effect to federal laws relating to national
banks).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is executed in renewal, amendment
and restatement of, but not in novation, extinguishment, discharge or satisfaction of the indebtedness evidenced by, all prior
Colonial Revolver Note(s) made by Colonial Auto Finance, Inc., an Arkansas corporation, payable to the order of <B>ARVEST BANK</B>
(as such note(s) has been amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the
&ldquo;<U>Prior Note(s)</U>&rdquo;). All amounts outstanding under the Prior Note(s) as of the date hereof are outstanding under
the Loan Agreement and due and payable in accordance with the terms of the Loan Agreement and this Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[<I>Signature Page Follows</I>]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>


<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, this Note is executed
as of the date set forth above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>,</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">an Arkansas corporation</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">By: __<U>/s/ Vickie D. Judy</U>________________</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Name: Vickie D. Judy</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Title: Secretary</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Colonial Revolver Note</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Signature Page</P>



<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>



<P STYLE="margin: 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.6
<SEQUENCE>5
<FILENAME>exh_46.htm
<DESCRIPTION>EXHIBIT 4.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.6</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">EXECUTION COPY</P>



<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center"><U>COLONIAL REVOLVER NOTE</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">December 3, 2018</TD>
    <TD STYLE="text-align: center; width: 34%">$19,200,000</TD>
    <TD STYLE="text-align: right; width: 33%">Bentonville, Arkansas</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>, an Arkansas
corporation (&ldquo;<U>Borrower</U>&rdquo;), for value received, hereby unconditionally promise to pay to the order of <B>COMMERCE
BANK</B> (&ldquo;<U>Lender</U>&rdquo;), the principal sum of <B>NINETEEN MILLION TWO HUNDRED THOUSAND DOLLARS ($19,200,000)</B>,
or such lesser amount as may be advanced by Lender as Colonial Revolver Loans and owing as LC Obligations from time to time under
the Loan Agreement described below, together with all accrued and unpaid interest thereon. Terms are used herein as defined in
the Second Amended and Restated Loan and Security Agreement dated as of December 12, 2016, among Borrower, America&rsquo;s Car
Mart, Inc., an Arkansas corporation, Texas Car-Mart, Inc., a Texas corporation, America&rsquo;s Car-Mart, Inc., a Texas corporation,
Bank of America, N.A., as Agent, Lead Arranger and Book Manager, Lender, and certain other financial institutions, as such agreement
may be amended, modified, renewed or extended from time to time (the &ldquo;<U>Loan Agreement</U>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Principal of and interest on this Note from
time to time outstanding shall be due and payable as provided in the Loan Agreement. This Note is issued pursuant to and evidences
Colonial Revolver Loans and LC Obligations under the Loan Agreement, to which reference is made for a statement of the rights and
obligations of Lender and the duties and obligations of Borrower. The Loan Agreement contains provisions for acceleration of the
maturity of this Note upon the happening of certain stated events, and for the borrowing, prepayment and reborrowing of amounts
upon specified terms and conditions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The holder of this Note is hereby authorized
by Borrower to record on a schedule annexed to this Note (or on a supplemental schedule) the amounts owing with respect to Colonial
Revolver Loans and LC Obligations, and the payment thereof. Failure to make any notation, however, shall not affect the rights
of the holder of this Note or any obligations of Borrower hereunder or under any other Loan Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Time is of the essence of this Note. Borrower
and all endorsers, sureties and guarantors of this Note hereby severally waive demand, presentment for payment, protest, notice
of protest, notice of intention to accelerate the maturity of this Note, diligence in collecting, the bringing of any suit against
any party, and any notice of or defense on account of any extensions, renewals, partial payments, or changes in any manner of or
in this Note or in any of its terms, provisions and covenants, or any releases or substitutions of any security, or any delay,
indulgence or other act of any trustee or any holder hereof, whether before or after maturity. Borrower agrees to pay, and to save
the holder of this Note harmless against, any liability for the payment of all costs and expenses (including without limitation
reasonable attorneys&rsquo; fees) if this Note is collected by or through an attorney-at-law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In no contingency or event whatsoever shall
the amount paid or agreed to be paid to the holder of this Note for the use, forbearance or detention of money advanced hereunder
exceed the highest lawful rate permitted under Applicable Law. If any such excess amount is inadvertently paid by Borrower or inadvertently
received by the holder of this Note, such excess shall be returned to Borrower or credited as a payment of principal, in accordance
with the Loan Agreement. It is the intent hereof that Borrower not pay or contract to pay, and that holder of this Note not receive
or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by Borrower
under Applicable Law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note shall be governed by the laws of the
State of California, without giving effect to any conflict of law principles (but giving effect to federal laws relating to national
banks).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is executed in renewal, amendment
and restatement of, but not in novation, extinguishment, discharge or satisfaction of the indebtedness evidenced by, all prior
Colonial Revolver Note(s) made by Colonial Auto Finance, Inc., an Arkansas corporation, payable to the order of <B>COMMERCE BANK</B>
(as such note(s) has been amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the
&ldquo;<U>Prior Note(s)</U>&rdquo;). All amounts outstanding under the Prior Note(s) as of the date hereof are outstanding under
the Loan Agreement and due and payable in accordance with the terms of the Loan Agreement and this Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[<I>Signature Page Follows</I>]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>


<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, this Note is executed
as of the date set forth above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>COLONIAL AUTO FINANCE, INC.</B>,</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">an Arkansas corporation</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">By: _<U>/s/ Vickie D. Judy</U>_________________</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Name: Vickie D. Judy</P>
        <P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Title: Secretary</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Colonial Revolver Note</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">Signature Page</P>



<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>



<P STYLE="margin: 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

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