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

[percy]

At their presentation both Todd and Aaron told us they had to tighten the criteria for their non-recourse lending to MTF originators. Appears they no longer have some of those orginators as part of their network.
No problems with Turners, or Buy Right Cars' originated loans.
Both TRA and HBL have very tight criteria for no deposit lending,so neither have the sort of issues you remember.
So the issues at TRA were at MFT originators, and at HBL their own new systems causing an "own goal,"

[Snoopy]

Well...yes, no,...maybe. Surveys overseas have started to indicate young people are more attached to their mobile phones than their cars and rightly or wrongly we're moving to a more urbanized living environment, (some of the big apartment blocks going up close to transport infrastructure are truly heinous) but they do give people the option to live without a car by using public transport most of the time and the likes of uber or some form of ride sharing at other times.

Not everyone needs a car to drive to work. But if you do need a car, and if you need to finance it, then you will likely keep up your finance payments on that car. That is all I am saying.

My experience with Geneva finance tells me its the no deposit lending that you really need to worry about....where people haven't got a decent amount of their own skin in the transaction is where the real risk lies. What do you know about Turners loan approval processes ? Do they do much no deposit lending ?

I will tell you who do no deposit deals on phones: Spark, Vodaphone and 2 Degrees for starters! I wonder what the default rate is on these deals?

SNOOPY

[Beagle]

Not everyone needs a car to drive to work. But if you do need a car, and if you need to finance it, then you will likely keep up your finance payments on that car. That is all I am saying.



I will tell you who do no deposit deals on phones: Spark, Vodaphone and 2 Degrees for starters! I wonder what the default rate is on these deals?

SNOOPY

Fair enough !

[RupertBear]

Bit of a downward slide and not many buyers lining up have to confess to jumping ship today to preserve my capital and small profit. May jump back in later but happy to be out for the time being.

[Baa_Baa]

Bit of a downward slide and not many buyers lining up have to confess to jumping ship today to preserve my capital and small profit. May jump back in later but happy to be out for the time being.

Well done, whatever happens next you can decide on, while reflecting on the saying "no one ever went broke by taking a profit" -Jesse Lauriston Livermore.

[Snow Leopard]

Bit of a downward slide and not many buyers lining up have to confess to jumping ship today to preserve my capital and small profit. May jump back in later but happy to be out for the time being.

Have you considered whether term deposits are right for you?

Well done, whatever happens next you can decide on, while reflecting on the saying "no one ever went broke by taking a profit" -Jesse Lauriston Livermore.

I just hope the TRA price keeps going down. If it recovers from here I do not know which will be worse:
RB's awesome angst;
you digging out "Let your profits run".

[minimoke]

Bit of a downward slide and not many buyers lining up have to confess to jumping ship today to preserve my capital and small profit. May jump back in later but happy to be out for the time being.

??? TRA up 1 cent today!. at $3.14 it is above one week low, 4 week low, 26 week low and 52 week low. The 26 week range high is $3.22 so at 8 cents down I dont understand why you would bail - thats a real tight stop loss

The whole of the NZX has had an ugly month in July. Thats the nature of the market and not a good enough reason to bail.

[Baa_Baa]

Have you considered whether term deposits are right for you?



I just hope the TRA price keeps going down. If it recovers from here I do not know which will be worse:
RB's awesome angst;
you digging out "Let your profits run".

Where did I say "Let your profits run"? You quoted me, show me where?

[couta1]

I'm adding in small nibbles currently, not many buyers that's for sure, should be for one of the only value plays currently available on the NZX. Must be Percy or Beagle wanting those 50k shares at $3, im sure if it gets that low they will have plenty of competition. PS-Just 10 weeks approx until the next divvy.

[RupertBear]

Fair enough for those of you that think I made a mistake by jumping ship. The trend seems to be going down and I have learned the hard way not to watch them go down. Happy for them to go back up and be proven wrong but I am also happy to be out atm.