J.J. Best Banc & Co.

Specialized financing for classic and collector cars

J.J. Best Banc & Co. is a financial institution based in New Bedford, Massachusetts, dedicated to loans for classic and collector cars, boats, RVs, and aircraft. Founded in 1993 in Chatham, Massachusetts, the company presents itself as the oldest and largest lender in the country in the classic car segment. Its activity is complemented by an affiliated insurance agency and a title company that streamlines the loan disbursement process.

Financing products

The offering includes lines of credit for classic and collector cars, boats, RVs, and aircraft. According to published information, loans are structured with fixed rates, extended terms, and simple interest, with no prepayment penalties. The prequalification process is advertised as taking two minutes, and approval can be obtained in as little as five minutes, free of charge and with no obligation. The company also offers insurance quotes for classic cars, boats, and aircraft through major providers.

Dealer services

J.J. Best Banc & Co. maintains a dealer network called Dealer CONNECT, which provides tools and applications to streamline customer financial information and facilitate loan approval. The company notes that its dealer network is central to its business and offers benefits to those who register their information.

History and structure

The company was founded in 1993 by a professional with experience in the financial sector on Wall Street and owner of a mortgage company, who was also a classic car collector. In 2003, it moved its operations from Chatham to an industrial building in New Bedford, Massachusetts. In 2005, it sold that property and moved to its current location, an 1832 bank building that has housed banks ever since. Over the years, it added the J.J. Best Banc Insurance Agency and a title company, and expanded its offering to higher-priced products such as RVs, boats, yachts, and aircraft. The company states it has more than 50,000 hours of combined financial experience and operates under the name J.J. Best & Company in Indiana and Idaho.

Resources and industry presence

The website includes resources for collectors, such as the ability to value a classic car or truck by comparing recent sales, through an integration with CLASSIC.COM. It also publishes a calendar of classic car and boat auctions and events, and includes customer testimonials from various states. The company actively participates in car auctions nationwide.

Offices

J.J. Best Banc & Co. has an office in Massachusetts and another in Puerto Rico. The main office is located in the Best Banc Building, in New Bedford, Massachusetts, and the second on Calle Sol, in Old San Juan, Puerto Rico.

Locations

Massachusetts location: Best Banc Building, 60 N Water Street, New Bedford, MA 02740 · Phone: 1-800-872-1965 · Email: cs@jjbest.com

Puerto Rico location: Calle Sol 8 Suite 2, Old San Juan, PR 00901