Police were called to the scene near the entrance to the Holland House estate at around 9pm after one of the drivers – a local man – fled on foot.
He was later caught and arrested on suspicion of drink driving and failing to stop at the scene of the accident in Holland House Road.
He was led into the back of a police van and taken into custody where he remains this morning.
Both cars suffered damage but no injuries were reported.
Lancashire Police is asking witnesses or anyone with information to call the force on 101, quoting log 1533 of April 20, 2022.
A police spokesman confirmed: “A 34-year-old man from Walton-le-Dale has been arrested on suspicion of driving with excess alcohol and failing to stop at the scene of an accident. He remains in custody at this time.”