Do any PHers have their 720S yet?

[AOK]

RamboLambo said:

As he promised and here you go Tom I'll help you get your views up

https://www.youtube.com/watch?v=3bbiLYZKfb4

I think it tells you all you need to know - he is not flipping it just selling it because he has others coming to sell.
Hope he knows the HMRC rules and doesn't get whacked with a hefty tax bill

Please cite which HMRC rules you are referring to? Genuinely intrigued.

[garystoybox]

AOK said:

Please cite which HMRC rules you are referring to? Genuinely intrigued.

I suspect he is referring to HMRC views on whether you are in fact carrying out a trade or venture, in which case tax can become payable I.e. If you are regularly buying and selling cars you could be considered as running a business, with relevant tax applying on profits. In this case I don't think he has anything to worry about.

Edited by garystoybox on Sunday 3rd September 23:14

[PGNSagaris]

RamboLambo said:

As he promised and here you go Tom I'll help you get your views up

https://www.youtube.com/watch?v=3bbiLYZKfb4

I think it tells you all you need to know - he is not flipping it just selling it because he has others coming to sell.
Hope he knows the HMRC rules and doesn't get whacked with a hefty tax bill

Gary, stop being a chop and grow up

[TGETV]

RamboLambo said:

As he promised and here you go Tom I'll help you get your views up

https://www.youtube.com/watch?v=3bbiLYZKfb4

I think it tells you all you need to know - he is not flipping it just selling it because he has others coming to sell.
Hope he knows the HMRC rules and doesn't get whacked with a hefty tax bill

I've made a fairly substantial loss on the McLaren, and will make a loss on the Aventador S, and presumably on the Performante, (it's £244k), and of course the Mini. And the incoming Golf. Defender should hold value. Made no money on my F12, GT3 RS, and lost money on Huracan. M4 DTM I was lucky with but by no means was that a business, likewise with the GT4.
You really are a tosser.

[anonymous-user]

Blooming heck Gary - I really thought you might be able to learn through the feedback on this thread.

You really are a sad chump!

[RamboLambo]

TGETV said:

I've made a fairly substantial loss on the McLaren, and will make a loss on the Aventador S, and presumably on the Performante, (it's £244k), and of course the Mini. And the incoming Golf. Defender should hold value. Made no money on my F12, GT3 RS, and lost money on Huracan. M4 DTM I was lucky with but by no means was that a business, likewise with the GT4.
You really are a tosser.

Ahoy, I plug your video and make sure you are aware of the trading rules and that's the thanks I get.
Rah, no need for personal abuse so bin it and put a lid on it or I will drop you in the sea

[Ferruccio]

RamboLambo said:

Ahoy, I plug your video and make sure you are aware of the trading rules and that's the thanks I get.
Rah, no need for personal abuse so bin it and put a lid on it or I will drop you in the sea

1. His point is that he loses money on most cars.
Why on earth would the Revenue try and argue for him to be able to write those losses off against his income?

2. Interesting that the real world position on one of the early 720s, and therefore theoretically more valuable cars, is that he could only sell it at a substantial loss.

3. He's a lovely bloke. Meet him at Salon Prive. And had a nice chat.

[TGETV]

RamboLambo said:

Ahoy, I plug your video and make sure you are aware of the trading rules and that's the thanks I get.
Rah, no need for personal abuse so bin it and put a lid on it or I will drop you in the sea

Tosser is fairly generic tbh. And you weren't trying to help, my barnacle.

[RamboLambo]

Ferruccio said:

1. His point is that he loses money on most cars.
Why on earth would the Revenue try and argue for him to be able to write those losses off against his income?

2. Interesting that the real world position on one of the early 720s, and therefore theoretically more valuable cars, is that he could only sell it at a substantial loss.

3. He's a lovely bloke. Meet him at Salon Prive. And had a nice chat.

I'm sure he is a lovely bloke and his videos are more comical than informative but the perception I get, rightly or wrongly, is a bit of a show off

Has he really made a substantial loss on the 720S ??? I somehow doubt it as there is someone out there who will pay at least list price to get in one a year earlier and I'm sure the Mc dealer will "look after" him.

https://www.pistonheads.com/classifieds/used-cars/...

Anyway you haven't made a loss until you have technically sold it and who is to say that both Aventador S and Huracan Performante wont fetch premiums.
Yes the market has cooled and what was dead cert big premiums seem to have vanished but both the above have strong demand and shouldn't result in substantial losses

Edited by RamboLambo on Monday 4th September 11:17

Edited by RamboLambo on Monday 4th September 11:18

[Ferruccio]

RamboLambo said:

Has he really made a substantial loss on the 720S ??? I somehow doubt it as there is someone out there who will pay at least list price to get in one a year earlier and I'm sure the Mc dealer will "look after" him.

Yes. Why would he lie about something like that??
He obviously tried hard not to take a loss.
McLaren didn't even return his calls........

[Turbo cab]

RamboLambo said:

the perception I get, rightly or wrongly, is a bit of a show off

Ironic that this is the exact reason why everyone thinks your a .

[RamboLambo]

Ferruccio said:

Yes. Why would he lie about something like that??
He obviously tried hard not to take a loss.
McLaren didn't even return his calls........

Redline car is "very similar" and £30k over list. Suggests you would be easily be able to break even or at least avoid a substantial loss.
The market has cooled significantly and I don't think this is so much a reflection of the 720S or McLaren as a regular Ferrari 488 GTB would be no different currently.

Not picked up any vibes on massive cancelled orders on 720s, Aventador S or Huracan Performante but if the premiums are not going to be there at least all the speculators will do one

[DarthtaterM16]

RamboLambo said:

I'm sure he is a lovely bloke and his videos are more comical than informative but the perception I get is a bit of a show off

My god the irony..

[TGETV]

RamboLambo said:

I'm sure he is a lovely bloke and his videos are more comical than informative but the perception I get, rightly or wrongly, is a bit of a show off

Has he really made a substantial loss on the 720S ??? I somehow doubt it as there is someone out there who will pay at least list price to get in one a year earlier and I'm sure the Mc dealer will "look after" him.

https://www.pistonheads.com/classifieds/used-cars/...

Anyway you haven't made a loss until you have technically sold it and who is to say that both Aventador S and Huracan Performante wont fetch premiums.
Yes the market has cooled and what was dead cert big premiums seem to have vanished but both the above have strong demand and shouldn't result in substantial losses

Edited by RamboLambo on Monday 4th September 11:17

Edited by RamboLambo on Monday 4th September 11:18

Sending a link to a price someone is hoping for is of no merit. I could have listed mine for £3m. And who's to say I haven't tried for the past couple of weeks with a reasonable price and have only just managed to agree a sale? You don't have a clue what they actually are achieving. Market on them will settle soon anyway I'm sure in one direction or another.
I'm a young guy with flashy cars, and make Youtube videos - I'm an easy target for muppets like you, however I'm no idiot and won't be spoken to like a tt on a public platform, especially not by the likes of you.
Suggesting I am buying cars to make money is ridiculous. Putting down £30k non refundable into a £310k regular non limited production car, 9 months in advance, in such a volatile market, is not the actions of a flipper - it is the actions of someone that wants a chance to own and drive a whacking V12 Lambo and hopefully not lose their arse when it comes to sell. It's an enormous risk. You are a BELLEND.

[Ferruccio]

RamboLambo said:

Redline car is "very similar" and £30k over list. Suggests you would be easily be able to break even or at least avoid a substantial loss.

You can ask whatever you like for your car, house, painting.
Doesn't mean that anyone will pay what you ask, or even anything like what you are asking.

[The Surveyor]

TGETV said:

.....
Suggesting I am buying cars to make money is ridiculous. Putting down £30k non refundable into a £310k regular non limited production car, 9 months in advance, in such a volatile market, is not the actions of a flipper - it is the actions of someone that wants a chance to own and drive a whacking V12 Lambo and hopefully not lose their arse when it comes to sell. It's an enormous risk.....

If the high-model isn't structured for profit, the biggest risk for me would be having to sell a car you had absolutely fallen for just to fund the next one which may be a bit crap. You clearly liked the 720s (except the lack of shouty exhaust) so isn't the risk greater that your '£30k down' will result in a car you don't enjoy as much as the McLaren?

[TGETV]

The Surveyor said:

If the high-model isn't structured for profit, the biggest risk for me would be having to sell a car you had absolutely fallen for just to fund the next one which may be a bit crap. You clearly liked the 720s (except the lack of shouty exhaust) so isn't the risk greater that your '£30k down' will result in a car you don't enjoy as much as the McLaren?

That's a risk, sure, but nothing stopping me from buying another one down the line if I miss it, and enjoy something silly in the meantime - car won't be in limited numbers & will be cheaper in 6-12 months anyway. Loved it but doubt I'll get another that said.

[magnum555]

Come on TGE at least have the decency to admit you are flipping for a profit, which you definitely are. There's no way you are making a loss and fair play to you I've got nothing against that but at least be honest.

Like Lord Aleem saying he's worked hard to get to the top

[Ferruccio]

magnum555 said:

Come on TGE at least have the decency to admit you are flipping for a profit, which you definitely are. There's no way you are making a loss and fair play to you I've got nothing against that but at least be honest.

Like Lord Aleem saying he's worked hard to get to the top

1. On what basis do you say that there is "no way you are making a loss"?
2. And why on earth would he lie about that?

[magnum555]

Ferruccio said:

magnum555 said:

Come on TGE at least have the decency to admit you are flipping for a profit, which you definitely are. There's no way you are making a loss and fair play to you I've got nothing against that but at least be honest.

Like Lord Aleem saying he's worked hard to get to the top

1. On what basis do you say that there is "no way you are making a loss"?
2. And why on earth would he lie about that?

1. He has admitted himself on numerous occasions he doesn’t have money to waste and doesn’t like losing money. Surprise surprise he's buying limited edition models and cars that are in huge demand to then funnily enough sell a few months later to make a loss. Come on, it doesn’t take a genius to work it out.

2. Like RamboLambo has pointed out the money made would be taxable.

As I've said before fair play to you making money, I’ve got nothing against that but making up stories behind each sale is ridiculous.