Dealers only make a little on car sales, I'm not having it!

[Grandfondo]

daemon said:

Grandfondo said:

daemon said:

THere was always finance for the right people and the right deal. Car finance is secured against the car, so theres less risk.

Unsecured debt is where they really got jumpy.

Lots and lots of people back then were being rejected but now are ok!
Read into this what you like.

No one i know who wanted car finance was refused it.

Maybe its the company you keep?

Please, finance for a car, what a quaint notion!

[Grandfondo]

daemon said:

Grandfondo said:

daemon said:

THere was always finance for the right people and the right deal. Car finance is secured against the car, so theres less risk.

Unsecured debt is where they really got jumpy.

Lots and lots of people back then were being rejected but now are ok!
Read into this what you like.

No one i know who wanted car finance was refused it.

Maybe its the company you keep?

Please, finance for a car, what a quaint notion!

[daemon]

Grandfondo said:

Please, finance for a car, what a quaint notion!

Not all of us want to drive a car near a decade old

I guess you cant afford to buy one new?

[TA14]

jbsportstech said:

TA14 said:

You can argue about the figures all day long but you're missing the point. In your example there, the profit is £550 + £100, which is more than the NET profit that you quote, just as the profit in the example that you quoted earlier is more than 2.2%. In your example the £550 + £100 can be split any way you like but it's the total profit that people mean not the part of that profit that goes to the holding group or whoever/whatever you choose to call it.

You need to throw into the mix that some cars hang around months and can drop in value each month, the example assumes everything walks off the forecourt in month doesn't suffer write down or the cost of being cleaned weekly for 13 weeks. That can eat into the 550 very quickly I would not do it for a living again as its not a big earner and income was so erratic my basic in 2002 was £12k!

That was D's example but the point I was making is that the profit figures that D quotes are only part of the profit. So if the profit is X + Y he only mentions Y. The exact values of X and Y don't matter in trying to establish this principle

[oyster]

unrepentant said:

hondansx said:

That's a pretty naive review of things!

The profit you see is what their accounting has engineered.

You're the naive one. Lookers is a plc and Sytner is a division of a US public company.

Actually the truth is probably somewhere in the middle.

Pre-tax profit is not a true measure of margin in a company where large amounts of costs come in the form of performance-related bonuses or commission. For this, operating profit is a better measure.

After all, if Sytner paid their CEO a £100m bonus then the pre-tax profit suddently doesn't look so bad.

[unrepentant]

oyster said:

unrepentant said:

hondansx said:

That's a pretty naive review of things!

The profit you see is what their accounting has engineered.

You're the naive one. Lookers is a plc and Sytner is a division of a US public company.

Actually the truth is probably somewhere in the middle.

Pre-tax profit is not a true measure of margin in a company where large amounts of costs come in the form of performance-related bonuses or commission. For this, operating profit is a better measure.

After all, if Sytner paid their CEO a £100m bonus then the pre-tax profit suddently doesn't look so bad.

Someone else who doesn't understand how public companies are run.

[blank]

F Types do have sump plugs and can be drained in the normal way.

If you really want to extract the oil then most garages probably have the tool anyway.

If you really wanted to you could buy the official JLR one here:
https://jlrequipment.service-solutions.com/en-GB/P...

It's absolute rubbish that an independent couldn't do that job. There are loads of diagnostics systems on the market that will do the correct service reset too.

[Yazar]

unrepentant said:

oyster said:

unrepentant said:

hondansx said:

That's a pretty naive review of things!

The profit you see is what their accounting has engineered.

You're the naive one. Lookers is a plc and Sytner is a division of a US public company.

Actually the truth is probably somewhere in the middle.

Pre-tax profit is not a true measure of margin in a company where large amounts of costs come in the form of performance-related bonuses or commission. For this, operating profit is a better measure.

After all, if Sytner paid their CEO a £100m bonus then the pre-tax profit suddently doesn't look so bad.

Someone else who doesn't understand how public companies are run.

Would this require understanding that public companies exist to create maximum value make as much short term money as they can for the exec bonus and shareholders, and keep as much of this money as they can from the taxman?

[Grandfondo]

daemon said:

Grandfondo said:

Please, finance for a car, what a quaint notion!

Not all of us want to drive a car near a decade old

I guess you cant afford to buy one new?

That's a bit like your guess you could make money as a car trader?

Wrong on both counts!

[daemon]

Grandfondo said:

Wrong on both counts!

Yeah Yeah. I hear Oxfam have a nice range of second hand jeans. Would be right up your alley.

[unrepentant]

Yazar said:

unrepentant said:

oyster said:

unrepentant said:

hondansx said:

That's a pretty naive review of things!

The profit you see is what their accounting has engineered.

You're the naive one. Lookers is a plc and Sytner is a division of a US public company.

Actually the truth is probably somewhere in the middle.

Pre-tax profit is not a true measure of margin in a company where large amounts of costs come in the form of performance-related bonuses or commission. For this, operating profit is a better measure.

After all, if Sytner paid their CEO a £100m bonus then the pre-tax profit suddently doesn't look so bad.

Someone else who doesn't understand how public companies are run.

Would this require understanding that public companies exist to create maximum value make as much short term money as they can for the exec bonus and shareholders, and keep as much of this money as they can from the taxman?

As I pointed out previously on this thread most plc directors are on LTIP's and their biggest chunk of cash usually comes from exercising share options which are usually 3-7 years in the future when they are issued. Long term sustainable growth in both profits and share price is what drives wealth for both shareholders and directors. Tax is tax, if you are an international company you can choose to make more in markets where the tax regeime is easier but the EU has rules about that as well. Public companies are audited extremely closely.

[daemon]

Grandfondo said:

That's a bit like your guess you could make money as a car trader?

I know. If it had been any worse we would have had to get rid of the cars we really wanted and buy a ropey old six series.

[Grandfondo]

daemon said:

Grandfondo said:

That's a bit like your guess you could make money as a car trader?

I did. Just not enough to support our flamboyant lifestyle.

Of used golfs and rented Beemers!

Edited by Grandfondo on Monday 8th December 19:28

[daemon]

Grandfondo said:

daemon said:

Grandfondo said:

That's a bit like your guess you could make money as a car trader?

I did. Just not enough to support our flamboyant lifestyle.

Of used golfs and rented Bemers!

Golf fulfills a purpose. BMW is financed with the wifes company car allowance. But you know all this. You just cant change the record.

The rest of my life you know nothing about - although it was a tongue in cheek comment - the subtlety of which as usual, washed over your head.

Whats your excuse for drive a ropey old six, other than cant afford a new one?

Edited by daemon on Monday 8th December 19:32

[Grandfondo]

daemon said:

Grandfondo said:

daemon said:

Grandfondo said:

That's a bit like your guess you could make money as a car trader?

I did. Just not enough to support our flamboyant lifestyle.

Of used golfs and rented Bemers!

Golf fulfilled a purpose. BMW is financed with the wifes company car allowance.

Whats your excuse for drive a ropey old six, other than cant afford a new one?

Have you ever thought that I may have had another car/cars in the last 10 years?

[daemon]

Grandfondo said:

Have you ever thought that I may have had another car/cars in the last 10 years?

And have you ever thought that maybe i've moved on from me motor trading, even if you havent?

[daemon]

Grandfondo said:

daemon said:

Grandfondo said:

That's a bit like your guess you could make money as a car trader?

I did. Just not enough to support our flamboyant lifestyle.

Of used golfs and rented Beemers!

You mean like you're thinking of doing? You're being a bit hypocrytical are you not?

Grandfondo said:

Timbola said:

xmd5a said:

Been looking at getting a M235i myself, what sort of monthly figure will you be paying?

PM sent with details.

Me to please!

[Grandfondo]

daemon said:

Grandfondo said:

Have you ever thought that I may have had another car/cars in the last 10 years?

And have you ever thought that maybe i've moved on from me motor trading, even if you havent?

Success is temporary but failure lasts forever!

[DanielSan]

Sump said:

It's a rule that if you are making a hilarious amount of money you claim not to make much and you claim always to be skint.

Alternatively known in mathematics as the 'farmers rule'

[daemon]

Grandfondo said:

daemon said:

Grandfondo said:

Have you ever thought that I may have had another car/cars in the last 10 years?

And have you ever thought that maybe i've moved on from me motor trading, even if you havent?

Success is temporary but failure lasts forever!

Only to you it seems.

Everyone else moves on with their lives.