Sunday, July 23, 2017

Ride along

Enterprising People Business Radio Talk presents
A BUSINESS CONVERSATION WITH JAMAAL MCCOY

Ride along

BY KIMBERLY BAILEY-TUREAUD

JAMAAL MCCOY General Manager, Findlay Chevrolet.

The American automotive industry is back. After a near-collapse in 2008, business is now robust at dealerships across the United States. That includes Las Vegas’ Findlay Chevrolet, where general manager Jamaal McCoy shared personal insights on our unique relationship to cars and how to buy them effectively.

Why do men love cars so much?

It’s different for every person as it relates to a love for cars. One of the reasons I think men love cars so much, is because they enjoy customizing their cars to fit their own passions and personality. Men love horsepower in a car and those new rims or wheels add to the attractiveness of the car.

What seems to be the hottest selling car at your Findlay Chevrolet dealership?

For our dealership in particular it is the Camaro. There are men and women buying the new Camaro — and loving it.

Has the auto sales business picked up in Las Vegas?

Yes, in the last few years we have seen a real increase in car sales.

Is it wiser to buy a car or lease one?

There are definitely advantages to leasing a car. Most people are unaware that 80 to 90 percent of all cars you see on the road today that the buyers don’t have the titles to their cars. Most people never pay off their vehicle anyway, and if you finance instead of leasing one, you will probably pay more for the car that you like. When you lease a car — at the end of two to three years you can turn it in and get another new car. One of the biggest misconceptions to leasing a car is that you can’t modify the car you lease. This is not true. You can do almost as much to your lease car as one that you purchase — as long as you don’t decrease the car’s value. When you examine mileage restrictions on a leased car, the standard is usually 12,000 to 15,000 miles a year. If you exceed these same miles on a financed car, it will be worth less. If someone still wants to finance a car, I totally understand and will work to get them the best deal. I just want to make sure everyone understands their options.

What do you suggest if someone wants to buy a car, but their credit is questionable?

The first thing that someone needs to do when they are interested in buying a car is to know what you can afford. If you talk to a sales representative like myself, you need to tell us what is going on with your finances and credit. Everyone knows that bad things happen to good people. Credit is not an indicator as to who we are. If there are discrepancies on your credit, just be prepared to have the documentation to explain your situation. Lenders will work with you.

Can you trade in your car for a lease car?

You absolutely can trade in your car for a leased car; the only difference is that on a lease there is no tax credit because you don’t pay all the tax up front like you do on a purchase. With a lease you only pay taxes as you go. Most dealerships will take your car trade in on both leased and financed vehicles. It is a way for dealerships to increase their inventory.

Why do men have a need for speed?

Everyone is different. Some of my guy friends want a fast car. They want it to go as fast as possible and that is their thing. But, other friends of mine like a truck for the great outdoors and for camping. Some guys just want a car they can customize as their own. They enjoy painting their cars and putting high-end stereos in them. It is also very competitive. Some men like having a car that is a little faster than the next guy’s car. I am a little conservative, but I like a fast car.

Are there any car deals for someone’s graduating son or daughter?

Definitely, we have car-buying incentives on all of our cars. The Cruze, Sonic and Spark are ideal for those young people graduating from college. They are affordable and only cost between $14,000 and $20,000. We see a lot of parents buying them for their children, and they have great miles-per-gallon savings, incentives and rebates. We also have financing programs for recent college graduates.

Are there any new colors for cars now?

The Spark is one of those cars that come in a variety of colors such as lemonade yellow or a jalapeno green. They come in some unique colors.

Where are you originally from?

I moved to Las Vegas in 1999 and I was born in Germany because my dad was in the military.

Why did you want to get into the car business?

I have always had a love for cars and interacting with people. I played football and majored in finance — but when I first walked onto a car dealer’s lot, I said, ‘This is for me.’  I love cars and enjoy talking to people, so it was a natural fit.

How does someone know it’s a good time to buy a car?

Ultimately, it depends on your finances. What you think you can afford and what your budget will allow can be two different things. This is one thing that I try to educate people about. Do you really need all the equipment you are attracted to in your car? What is your motivation for buying the car?  You don’t need to spend $40,000 on a car if it is just for transportation. I would like to sell all of Las Vegas a car — but sometimes it is not the right time. Weigh the pros and cons on any car purchase.

Is there a particular time of year that is best to buy a new car?

No, there is not a better time of the year to buy a car. We are open 12 months a year at Findlay Chevrolet. Some people think that if you get a new car at a certain time of year they will get a better deal. This is not necessarily true. The summer is our hottest-selling season. Whether you buy in the summer or winter, it really doesn’t matter. We want to sell a car every day.

What should a consumer do when they come to a car dealership and they are pounced on by several car salesmen before they step one foot on the lot?

That is something that you won’t experience at Findlay Chevrolet. I don’t have 40 salesmen standing in front of the dealership waiting to approach you as soon as you arrive at the dealership. There are always people available to help you, but will not rush you when you arrive. I am aware that consumers might feel pressure when they are approached by many salespeople. My suggestion to consumers is to have a point of interest before going to a dealership to look at a car. You can call me at (702) 982-4000 before you arrive on the car lot, and you will receive the best information and service. My staff and myself are here to just help.

For additional information, visit Findlay Chevrolet at 215 & South Rainbow Boulevard or go to FindlayChevy.com.

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