TRA - Turners Automotive Group [previously TNR - Turners Limited]

**percy** · 25-10-2019, 05:43 PM

Originally Posted by Joshuatree

Order snapper instead of hoki

tonite

Off course.!!!
But wait there's more!
Pension Monday night.!
GNE divie next Thursday night.!
Long weekend means the pension is there already.!

**winner69** · 26-10-2019, 09:50 AM

Originally Posted by percy

I love TRA's share buy back.
At $2.55 ps TRA are saving having to pay 17 cps divie on all the shares they brought back.A net 6.67% ps.
[And they brought them back at around $2,34 and have already saved having to pay 4 cps on those]
Yet at approx gross 4.5% cost of borrowing they are well ahead.
Helps improve their ratios and I end up with a slightly larger piece of the pie.
I too would wait for the interim before deciding what course of action to take.

With their extraordinary high NIM I wonder how much they could have made on the buyback cash by lending it out .....probably a 'real' return instead of just proved ratios.

**percy** · 26-10-2019, 11:50 AM

Originally Posted by winner69

With their extraordinary high NIM I wonder how much they could have made on the buyback cash by lending it out .....probably a 'real' return instead of just proved ratios.

I prefer the buyback.

**sb9** · 12-11-2019, 04:08 PM

Among other news relating to TRA some interesting development re their CL8 association

"Nov 12 (Reuters) - Collaborate Corporation Ltd (CL8) :

SEEKS TRADING HALT PENDING ANNOUNCEMENT ON CAPITAL RAISING AND A MATERIAL COMMERCIAL AGREEMENT FOR SUPPLY OF VEHICLES"....

**winner69** · 13-11-2019, 06:38 AM

Heartland say they make ‘superior returns’ from motor vehicle lending - like >15% ROE

Turners tried to hock off their finance arm because of inferior returns but couldn’t find a buyer

Weird

**BlackPeter** · 13-11-2019, 07:59 AM

Originally Posted by winner69

Heartland say they make ‘superior returns’ from motor vehicle lending - like >15% ROE

Turners tried to hock off their finance arm because of inferior returns but couldn’t find a buyer

Weird

Maybe its the quality of the vehicles and the liquidity of the respective owners? Heartland would mainly fund new vehicles sold to better off owners, right? Turners funds the rest of the field;

**Jay** · 13-11-2019, 08:05 AM

I would say you are right BP, HB also tied up with Winger Subaru I saw the other day driving past the yard in Greenlane

**percy** · 13-11-2019, 08:24 AM

Originally Posted by BlackPeter

Maybe its the quality of the vehicles and the liquidity of the respective owners? Heartland would mainly fund new vehicles sold to better off owners, right? Turners funds the rest of the field;

Yes,HGH fund mainly new vehicle franchise dealers,:Jaguar/Land Rover,Holden,and now Kia.Yet their used car finance is still bigger than new cars lending.
With HGH "upgrading" the quality of their originators,% of poor loans is very low.Intersting to is the size of HGH average motor vehicle loans has increased substantially from approx $18,500 to nearer $26,000.
TRA are the Pak"n Save of the used car market.Their market is under $20,000 ,with under $10,000 making up their biggest sector,therefore their average loan is approx $8,000 and their clientele are not as "well heeled" as the franchised dealers.
Turners still earn over 15% ROE on vehicle sales,however finance is currently still well below this level.This will slowly improve,and will greatly improve when the MTF non-recourse lending book has run its course.Longer term,maybe not quiet up to HGH's level,but a lot better than currently.