J.J. Best Banc - insensitive to RI replica/kit owner

[birddog]

Dealing w/ J.J. Best Banc has been difficult at best ....no pun intended. I should have walked away when I found myself calling them constantly to progress my loan (ERA 289 FIA) ...they (Sean) never returned my call ..but when pressured, they finally completed the deal. So all was forgiven ...until I received the check. The included letter indicated I had 7 days to title the car (I'm in RI) ...which doesn't seem too unreasonable until the facts are considered. When I received the check ...the clock started ...the car was still in NY w/ the title. I indicated this to Sean who directed me to the title manager. A couple days later the car arrived ...and a few days later the title. This may seem timely but this is only the beginning ..and clock already hit 7 days. To register/title an out-of-state car in RI requires the VIN # to be inspected against the title by the local police department. Not that easy in RI in February. I purchased the car on 1/31, received title on 2/6 and finally obtained inspection on 2/19 ...still not registered ...still calling J.J. Best Banc to let them know the delay. While they are nice on the phone ...the computer continues to send me hate mail. Today I received the letter threatening to "sue"....yet I spoke w/ the J.J. Best last week indicating I finally registered the car (2/26). The nice phone conversations and "computer" induced hate mail are not aligned. I am told not to worry ...but there is enough documented mail from them that clearly if J.J. Best sued ...they would win. But what is the point? I have had the car less than a month ...the 1st loan payment just came do ...why not just increase the unreasonable 7 days to 21?30? ...because their computer runs the business ...including their poor customer service department. J.J. Best Banc is in MA and should be aware of the process for registering/titleing a kit/replica in RI but I honestly don't think they have ever asked the question nor even cared what the process and timeframe is in RI. Just my 0.02.

Jeff

[mrmustang]

Jeff,

I'm sure I am going to take some heat for this one, but I am not sure I understand what you are complaining about. You read the terms and conditions which stated the car had to be titled in your name within 7 days, you signed off on that paperwork when you applied for the loan and received the check, right? So what seems to be the problem other than you did not follow through with the legal T's & C's of the loan contract? Not trying to take sides, just trying to understand this a little better.

Bill S.

[Lowell W]

Not sure what your relationship is with your bank, but if I were a banker and some guy came in asking for a loan to buy a car like this, I'd be laughing my a$$ off. Heck, just WANTING one demonstrates you're probably someone who would make a banker nervous!

Looks to me like they want to: A) be sure they have your nuts in a vise in the event you don't live up to the terms of the loan; and B) prod you into getting all your business taken care of ASAP.

Another good reason to deal with a small, locally owned bank rather than a banking conglomerate, IMHO.

Lowell

[427Aggie]

Did a loan on ERA #122 when I bought it back 7 years ago. JJ Best did a great job and I had no problems with them.

matt

[1985 CCX]

Bank's are not really all that nice to begin with. However, it looks like you ended up with a great FIA based on the picture in the driveway. Kudos on the car it looks like a great example from ERA.
Jeff

[Rick Parker]

Birddog:

MrMustang is correct in his statments. The facts are the Bank has an unsecured loan until they receive a title (the collateral) for the car. The policies they have in place are to protect their interest, not place a hardship on you. I deal with Auto loans, funding packages and vehicle titles in my employment. if the "Lien is not Perfected" (legal jargon) meaning the documents evidencing the transfer of the title naming the lender as the "New Lienholder" are not included in the funding package, they (the bank) will not fund the loan, no if's, ands but's or maybe's. Yes, the "Hate mail" is computer generated and the voice on the phone really has little input into whether you receive it or not. However in your case it sound like you were doing everything possible to meet their demands. Sh*t runs downhill an somebody at the bank was receiving "Heat" since the loan was incomplete. Auditors are merciless in this stuff and all people in the lending industry fear being "Written Up" for not following written policy. It's all behind you now, enjoy the car.

[Tommy]

If you don't like the way you were treated, don't do any more business with them. That's why I haven't shared a dollar with either American Express or JC Penney in more than 30 years. They don't know or care that they've lost this one person's business, but I know it's cost them thousands of dollars over the years. If a thousand people feel the same way I do, it has cost them millions of dollars. And, like you, I use the Internet to tell others how I feel about businesses I don't like.

[birddog]

Bill S. ..I guess my post was not clear. I read the T&C as part of the loan agreement/application. Nothing about 7 days. When I received the check, there was a "form letter" about this 7 day timeframe. Nothing from the loan officer about this little tidbit. The check was payable to myself and the NY dealer, clock now ticking, I had 7 days from then to get the car titled/registered. Again, this letter was NOT part of the T&C but attached to the check after the deal was done. At that point, I then sent the check w/ my signature to the NY dealer who also had to sign ...no wire transfers allowed. Not a big deal ...done that before. He signed and shipped the car. He waited to funds cleared to send the title. My point was the 7 days, the inability of JJ best to control their computer ...and heck only been 26 days. I have purchased many boats, motorcycles and other toys and never had such an experience. I guess I could have returned the check and cancelled the deal...NOT. I did call the bank and let them know the delay ..they said no problem ..but letters kept coming ...called again ...they said ...no problem ...but another letter. I guess my point ..they should be able to control their computer and keep it in line w/ their friendly staff. First time I ever got letter threatening to "sue" ....maybe it is me ...I though this was a little unreasonable but maybe I am just getting old ..

Jeff

[marcocsx3121]

I anticipated the same type of grief when I needed a loan to buy CSX3121 in 1969. If it had been a new 'Vette, it probably would have been a non-issue, but instead of trying to explain a (real) Cobra to a banker, I just took out a personal loan for "medical expenses".