After 36 years, A used-car dealer takes on new cars

Just as gas prices spike and fuel-efficient cars become hard to find, a new Suzuki store has opened at the corner of Virginia Beach Boulevard and Kellam Road in Virginia Beach.
It might be new, but you'll recognize the store if you've ever bought a vehicle from Pembroke Auto Sales.
Thomas Joynt Sr., who opened his first used-car dealership in 1972, launched Pembroke Suzuki on May 15. Joynt bought the store from Southern Hospitality Automotive Group of Chesapeake, which sold Suzukis from its Lynnhaven Lincoln Mercury Kia store farther east on the same street.
About a year ago, Joynt played golf with William Shepherd, chairman and chief executive officer of Southern Hospitality and mentioned his interest in buying a franchise if one became available. It turned out, Shepherd was ready to sell Suzuki.
For Joynt, who started as an independent used-car dealer, it's a major change.
"You don't receive the respect that you would as a new car dealer," Joynt said. "But there are a lot of people in our business who are well-respected."
Fifteen years ago, Joynt added an in-house financing arm for less credit-worthy customers. That, Joynt said, was a major challenge.
"You have to be disciplined with the loans that you make and you have to be disciplined with the collections," he said.
Now comes his biggest challenge yet: taking on a new car franchise.
Like many automakers, Suzuki insists that financial conditions be met and establishes standards for service facilities and parts inventory.
But the biggest requirement will see Joynt refurbishing his store to mirror the standardized Suzuki look, which the manufacturer refers to as "Suzuki Sqaure." Renovations are slated to be completed by January.
And talk about good timing.
Suzuki's line up is filled with small cars and SUVs just as car buyers are getting pinched at the pump.
"When Bill and I started talking about it last summer, gas prices weren't a big factor," Joynt said. " The timing wasn't planned; it's something that worked."
Suzuki's low prices also mean that returning customers can get into a new Suzuki for the price of a nicely equipped used car. "It's not a huge step up from a used car to a $16,000 new car with a seven-year, 100,000 mile warranty," Joynt said.
While Joynt isn't the only one who is happy to see his business flourish. His son, Tom Jr., also is thrilled.
"This is an opportunity for us to take the business that my father built and take it to the next level," Tom Jr. said. "It's definitely an exciting time."