JJ Best & Co., a Massachusetts-based lender specializing in classic car and boat financing, marks its 10th summer helping customers acquire vintage vessels. Seeing a gap in the market in 2013, they facilitated purchases of older boats, a niche often neglected by traditional banks.
From its headquarters in historic New Bedford - the renowned whaling city hailed in Moby Dick – JJ Best & Co. enters its 10th summer helping thousands of American consumers buy old boats.
Incorporated thirty years ago as the first lender specializing in classic car financing, JJ Best would eventually witness a need in the marine lending space in 2013.
“When it comes to old boats and old cars, a traditional bank or credit union simply will not help you buy one,” comments Albert Maranda, General Manager of JJ Best for over twenty years. “That limitation gave rise to JJ Best, and later, other specialty lenders, to serve a personal financial need of consumers.”
Maranda continues, “Most boat purchases require a loan, except for wealthy individuals. Though JJ Best lends funds on boats of any age, including new boats, we definitely take special delight when we help a customer buy a boat that is more than 20 years old. We’re a company built on classics after all, so that makes sense.”
Maranda also states that a simple review of boat listing websites like Boatline.com quickly reveals the sheer size of the demand for pre-2003 vessels. On any given day 3,000 to 5,000 old boats are for sale in America. Though some lenders extend loans out to 30 years, he says it is very difficult to find a reputable lender on boats that were built as far back as 1920.
“It’s a bit of a secret. Even financial advice articles on websites such as lendingtree.com and Forbes.com do not provide any insight for readers with questions like ‘where can I get a loan to buy an ’87 Boston Whaler fishing boat?’” Maranda adds, “we do our best to educate the boat buying customer, but we are just one company.” For Boat Loan Rates click here: https://jjbest.com/specialty-financing/boat-loan-rates/
About Us: J.J. BEST BANC & CO. has over 20 years of experience offering niche loans, and we have some of the best boat loan rates in the industry. With convenient, flexible payment plans featuring low monthly payments, low boat loan interest rates, and no prepayment fees, our boat loans are the easiest way to afford the new boat you have always wanted.
Release ID: 89099634
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