Frequently Asked Questions

There are 5 different ways you can apply for a loan:

1. Fill out a secure, online loan application at www.jjbest.com/apply/
2. Call one of our classic car loan officer representatives at 1-800-USA-1965 to apply over the phone
3. Print out the online application at home and fax it back to us at 1-508-991-8FAX
4. E-mail the application to us at customerservice@jjbest.com
5. Mail the application to us at:
   J.J. BEST BANC & CO.
   BEST BANC BUILDING
   60 North Water Street
   New Bedford, MA 02740

We can usually let you know in 2 – 5 minutes whether you qualify.

Your paperwork will be processed within 24 hours from the time you complete and sign all necessary original documents.

You can find out if you prequalify in as little as 2 minutes. Our general requirements include:

• Good to excellent, established credit
• At least 10% to put down towards your classic car purchase
• Verifiable income
• A good debt-to-income ratio
• The vehicle you wish to purchase must be in good operating condition

You may still qualify even if you do not meet all these criteria. The best thing to do is call 1-800-USA-1965!

Not necessarily, because these cars usually appreciate over time. The increase in the value of the car may far exceed interest rates, making this a much more attractive option. Many more will choose to finance their purchases if an option like this is available to them.

You should get approved for the maximum amount you are looking to borrow. If you have a specific car in mind, ask to be qualified for 80% or 90% of the purchase price. Otherwise tell your loan officer the general amount you are looking to spend. Remember that in most cases we can add in your state’s sales tax as part of the financing program.

The loan amount may be changed up until the time loan documents are completed, signed and we process your check.

On average, we require a 10% to 20% down payment. Hot Rods, kit cars, and modified vehicles may require a 30% down payment.

We offer terms from 60 to 84 months. You can reduce the length on the term of your loan yourself by making larger loan payments each month. In other words, by making a larger payment each month you will pay off the loan sooner.

You can expect the most competitive rates in our industry. We are able to offer such low, competitive rates because we are the largest company of our kind in the United States, specializing in Antique Cars, Classic Cars, Exotic Cars, Kit Cars, Muscle Cars, Hot Rods, and Sports Cars as well as Antique Motorcycles, R.V.’s, Boats and Aircraft loans. We understand the collateral whereas most other lenders do not.

Our minimum loan amount for cars is $6,000 with a maximum of $2,000,000. Our minimum loan amount for boats is $25,000 with a maximum of $25,000,000. Our minimum loan amount for airplanes is $25,000 with a maximum of $5,000,000. Exceptions can be made on a case by case basis.

Keeping your information secure is one of our most important responsibilities. We safeguard your Social Security Number and other personal and financial information. You can feel confident using our services anywhere and anytime with J.J. BEST BANC & CO.’s comprehensive security protection.

We will finance almost all vehicles that are considered special interest between 1900 and 1985. However, we will finance some newer cars that are considered to be classic, sport and exotic. Please call us at 1-800-USA-1965 to find out more information. There are a variety of variables and other factors which we use determine if we can lend on that collateral.

J.J. BEST BANC & CO. does not finance vehicles that are used for business or commercial purposes.

Our loan policies don’t have any type of mileage restrictions.

Yes, you need to live in the United States.

Leasing is popular because it offers the borrower a low payment. However, extended-term financing also offers a low payment, sometimes even lower, with the added advantage of a purchase versus a “rental”. When you lease a car the leasing company owns the car, where as, when you finance your dream vehicle with J.J. BEST BANC & CO. you own the car. In most cases, there is a large residual that you will have to pay at the end of the lease for you to own the car outright. Additionally, financing is usually a tax deductible option, but you should always check with your tax advisor to be sure.

The borrower will still pay sales taxes with a lease; it will simply be spread out over the term of the lease. If a borrower finances the sales tax, the same is true.

In some cases this may be true, but unfortunately the rate will probably be a variable one. Our rates remain fixed for the duration of the term on your loan. There are other reasons you may want to reconsider getting a home equity loan. First, home equity loans are also much more difficult to obtain in today’s world. And by choosing a home equity loan you would then be using your home as security for your car loan.

Yes. J.J. BEST BANC & CO. provides pre-approvals for future purchases including collector car auctions. We also offer on-site auction and car corral financing at certain venues throughout the year. Please check our calendar of events for more information on what shows and auctions we’ll be attending.