Collector Car Financing Company Review – JJ Best Banc & Co
Many people wouldn’t think of getting a loan for an antique or collector car, but a classic car can be considered an investment just like real estate. Your local bank or conventional auto loan provider may not offer a collector car loan, but there are a number of lenders that specialize in collector car financing. J.J. Best Banc & Co. is just one of these specialty lenders.
J.J. Best Banc & Co. is based in New Bedford, MA. They offer simple interest collector car loans and refinancing in all fifty states, with no prepayment penalty after ninety days and terms from five to ten years. Financing is available for almost any special-interest or collector vehicle, including kit cars, vintage motorcycles, hot rods, street rods, and other modified vehicles that some classic car loan companies won’t deal with. They also offer financing for 1996 or newer RVs, travel trailers and motorhomes.
Unlike many other collector car financing companies, J.J. Best does not charge an application fee. Their loan approvals are good for thirty days, which allows you to line up financing at no cost to you before going to a classic car auction. You can fill out a loan application online or apply by mail, fax, phone, or email, and classic auto financing can be approved in as little as five to ten minutes.
J.J. Best does have a few limitations, restrictions and requirements, though. You must have excellent credit, and a minimum ten percent down payment is required. A bankruptcy in the past seven years will automatically disqualify your application. Modified cars such as street rods will require an expert appraisal, but most other vehicles will only require a quick inspection to make sure that the engine starts and runs and that the VIN number matches the title. Of course, you will have to provide proof of income, proof of insurance, proof of down payment, and a purchase/sale agreement.
J.J. Best Banc & Co. offers several other services also. They have partnered with Hagerty Classic Car Insurance to offer collector car insurance, and they offer a classic car warranty program, too. They also have a large collector car classifieds section on their website, with thousands of cars for sale of almost any make and model imaginable.
If you are considering collector car financing, J.J. Best Banc & Co. is definitely worth a look. You can reach them at (800) USA-1965, or visit their website.