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

[winner69]

He is certainly living up to his name.!..lol.

Who ...greater fool or Black Peter

[percy]

Who ...greater fol or Black Peter

You a good at finding answers,so I will leave it to you to figure.


I will give you a glue.
The one you misspelt.

[winner69]

You a good at finding answers,so I will leave it to you to figure.


I will give you a glue.
The one you misspelt.

I better say sorry to BP then

[Beagle]

Back to Turners, did anyone notice the increase in bad debt vehicle provisioning for Heartland ? Turners have a vehicle lending division don't they ? Next shoe to drop ?

[trader_jackson]

Back to Turners, did anyone notice the increase in bad debt vehicle provisioning for Heartland ? Turners have a vehicle lending division don't they ? Next shoe to drop ?

Well what I did notice was the huge growth in lending for that division...

[Beagle]

I warned before on the HBL thread that the sort of no deposit unsecured lending they are doing through Harmoney and certain franchise dealers would come with higher delinquencies. My experience with finance companies leads me to suspect that they only provide for or write off loans when the "maggots are crawling out of the carcass" rather than when the loan starts to look really, really sick. Apologies for the graphic nature of that inferred image but that's the truth of what I've seen so I suspect we've only seen the tip of the iceberg with this problem so far.

Hopefully for Turners shareholders sake I hope they know the basics of making sure the borrower has a decent amount of skin in the game...but if delinquencies in this area are growing strongly when the economy is good, I wonder what would happen if things turned pear shaped with the economy ? I guess this explains why vehicle companies and banks always have a well below market PE, an element of cyclicality to their earnings that always needs to be born in mind. It continues to surprise me that some experienced investors who should know better than to hold these shares in a confirmed downtrend of nearly a whole years duration still cling on in there. Good luck to holders but I see no reason to reinvest have no interest in trying to pick a bottom.

P.S. God's honest truth I typed all this before realizing that they'd just hit a fresh 52 week low on Friday at $2.85...ouch, sorry, I genuinely am not trying to rub salt into the wound, last time I looked it was $2.95 but you have to wonder when does the pain end for poor beleaguered shareholders ???? How long does one keep holding a surely and steadily losing proposition... "Never own shares in a confirmed downtrend" KW..she's a wise one.

[winner69]

I warned before on the HBL thread that the sort of no deposit unsecured lending they are doing through Harmoney and certain franchise dealers would come with higher delinquencies. My experience with finance companies leads me to suspect that they only provide for or write off loans when the "maggots are crawling out of the carcass" rather than when the loan starts to look really, really sick. Apologies for the graphic nature of that inferred image but that's the truth of what I've seen so I suspect we've only seen the tip of the iceberg with this problem so far.

Hopefully for Turners shareholders sake I hope they know the basics of making sure the borrower has a decent amount of skin in the game...but if delinquencies in this area are growing strongly when the economy is good, I wonder what would happen if things turned pear shaped with the economy ? I guess this explains why vehicle companies and banks always have a well below market PE, an element of cyclicality to their earnings that always needs to be born in mind. It continues to surprise me that some experienced investors who should know better than to hold these shares in a confirmed downtrend of nearly a whole years duration still cling on in there. Good luck to holders but I see no reason to reinvest have no interest in trying to pick a bottom.

P.S. God's honest truth I typed all this before realizing that they'd just hit a fresh 52 week low on Friday at $2.85...ouch, sorry, I genuinely am not trying to rub salt into the wound, last time I looked it was $2.95 but you have to wonder when does the pain end for poor beleaguered shareholders ???? How long does one keep holding a surely and steadily losing proposition... "Never own shares in a confirmed downtrend" KW..she's a wise one.

Securitisation and subprime auto loans are often not a good mix

Wonder how far away Turners are from having that $150 facility used up ...and wonder if they have convinced BNZ to up it to $250m

[winner69]

Wonder what the Bakery boys wil be up when they have cashed up their Trilogy investment

They must be getting a bit bored with this investment by now .... manouevered themselfs from bailing out Dorchester to taking over Turners and now sitting on a tidy sum ..... time they cashed in this as well?

[percy]

New car sales.Going gang busters.
Second Hand car sales .Going gang busters.
Marac [Heartland Bank] Motor vehicle lending. Going gang busters.
Motor Trade Finance,[MTF and TRA] Motor vehicle lending. Going gang busters.
Turners Auctions/Buy Right Cars.Going gang busters.
Turners Equipment Sales.Going gangbusters.
Turners End of Life Car sales,Wrecks.Going gang busters.
TRA,Finance and insurance.Going gang busters.


PS,The Business Bakery boys know this.
pps.So do I.
ppps.KW may advise you to never buy BIG in an uptrend too.!!!..

[whatsup]

So when will TRA and HBL amalgamate ?