Do any PHers have their 720S yet?
Discussion
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
Didn't want to put it on here, and more details to come possibly if I see fit - but I have agreed a sale and taken a substantial hit on the 720S. Didn't want to also potentially devalue them. Short of showing you screenshots of my invoice and sale price I don't know how to prove it. Not proud of it and I don't really mind taking a hit as it comes with the territory, I'm just telling you I'm not buying to make money. It's a non limited production McLaren for £250k ffs, there are COUNTLESS other cars to get to make cash on, but this is not one, and I knew that. I just wanted to own and drive one. I've scratched that itch now anyway, albeit for a way shorter period than anticipated. Like Lord Aleem saying he's worked hard to get to the top
DTM I was told by everyone in my inner car circles to cancel as I would take a hit and only keep if I really wanted to drive and experience it - so I kept it.
Sick of the witch hunts tbh. And the LA alignment above is plain odd. Nothing to do with it.
magnum555 said:
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.
1. Who LIKES losing money? Also, McLaren are making thousands of the 720S. It was just an high priced early one with a 'Launch' plaque2. 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.
2. No, it isn't, even if there was any profit on it. Some I've come out up, some down. There's not one private owner on here paying tax when they get lucky on the residuals of one of their cars. Only businesses trading cars pay tax. One or two of you on here forget there are numerous costs incurred with the purchase of these things on top - insurance, storage fees (parking space), running costs and interest/fees to pay on the finance (in my case) - which I don't include in my calculations on whether a car has 'lost money'. This is thousands a year. One of my parking spaces alone is £3k ffs. I have several.
Edited by TGETV on Monday 4th September 15:48
magnum555 said:
2. Like RamboLambo has pointed out the money made would be taxable.
Once again, please can you explain exactly what tax HMRC would be going after Tom for?Vehicles are Capital Gains exempt (for very good reason) and they'd have a very tricky time proving that Tom, a self-professed workaholic running numerous non-car related businesses, is buying and selling cars in the line of business, let alone has the time for it!
And as for lying about the profit, I can't divulge too much as the deal is still ongoing, but as someone involved in the transaction I can confirm that despite our best efforts, Tom is coming away from the 720S with a significant loss (for such brief ownership).
Anyway, I am glad to have been proven right about the 720s residuals...
Also glad to hear that this crazy market is finally cooling and people will stop asking stupid money for yet the newer version of an existing car. Once the speculators are out of the market, the rest of us can continue to have access to these cars without having to wait years and risk losing a fortune.
A friend of mine came across an unregistered 488 Spider with immediate delivery - seller asking a £50k premium..
Also glad to hear that this crazy market is finally cooling and people will stop asking stupid money for yet the newer version of an existing car. Once the speculators are out of the market, the rest of us can continue to have access to these cars without having to wait years and risk losing a fortune.
A friend of mine came across an unregistered 488 Spider with immediate delivery - seller asking a £50k premium..
TGETV said:
Didn't want to put it on here, and more details to come possibly if I see fit - but I have agreed a sale and taken a substantial hit on the 720S. Didn't want to also potentially devalue them. Short of showing you screenshots of my invoice and sale price I don't know how to prove it. Not proud of it and I don't really mind taking a hit as it comes with the territory, I'm just telling you I'm not buying to make money. It's a non limited production McLaren for £250k ffs, there are COUNTLESS other cars to get to make cash on, but this is not one, and I knew that. I just wanted to own and drive one. I've scratched that itch now anyway, albeit for a way shorter period than anticipated.
DTM I was told by everyone in my inner car circles to cancel as I would take a hit and only keep if I really wanted to drive and experience it - so I kept it.
Sick of the witch hunts tbh. And the LA alignment above is plain odd. Nothing to do with it.
You don't need to prove anything to anyone but a bit of truth here and there wouldn't hurt.DTM I was told by everyone in my inner car circles to cancel as I would take a hit and only keep if I really wanted to drive and experience it - so I kept it.
Sick of the witch hunts tbh. And the LA alignment above is plain odd. Nothing to do with it.
As someone who claims to be smart can I suggest it may have been cheaper for you to have just hired a 720S for the length of time and number of miles you actually drove the damn car if you in fact made a significant loss rather than the more modest profit that you somehow expected.
You may want to rethink your strategy going forward so not to make the ( self confessed ) little bit of money you have even less by buying "loss" making cars - seems a strange plan to me but each to their own I guess.
I certainly couldn't afford and wouldn't want to be making significant losses on a new car every 2 months.
From the outset I've always wondered how you could have 5 cars on order from Geneva with them all arriving in a short timescale without flipping each one before the next one arrived.
Maybe you have had your fingers burnt this time, maybe not but looks like you are at least locked into the AVS and HP now.
Fingers crossed for you that they don't crash and burn but that's the risk/reward of speculating as you are well aware
RamboLambo said:
You don't need to prove anything to anyone but a bit of truth here and there wouldn't hurt.
As someone who claims to be smart can I suggest it may have been cheaper for you to have just hired a 720S for the length of time and number of miles you actually drove the damn car if you in fact made a significant loss rather than the more modest profit that you somehow expected.
You may want to rethink your strategy going forward so not to make the ( self confessed ) little bit of money you have even less by buying "loss" making cars - seems a strange plan to me but each to their own I guess.
I certainly couldn't afford and wouldn't want to be making significant losses on a new car every 2 months.
From the outset I've always wondered how you could have 5 cars on order from Geneva with them all arriving in a short timescale without flipping each one before the next one arrived.
Maybe you have had your fingers burnt this time, maybe not but looks like you are at least locked into the AVS and HP now.
Fingers crossed for you that they don't crash and burn but that's the risk/reward of speculating as you are well aware
Have Romans managed to sell their Aventador S? Its been on for about a month now. As someone who claims to be smart can I suggest it may have been cheaper for you to have just hired a 720S for the length of time and number of miles you actually drove the damn car if you in fact made a significant loss rather than the more modest profit that you somehow expected.
You may want to rethink your strategy going forward so not to make the ( self confessed ) little bit of money you have even less by buying "loss" making cars - seems a strange plan to me but each to their own I guess.
I certainly couldn't afford and wouldn't want to be making significant losses on a new car every 2 months.
From the outset I've always wondered how you could have 5 cars on order from Geneva with them all arriving in a short timescale without flipping each one before the next one arrived.
Maybe you have had your fingers burnt this time, maybe not but looks like you are at least locked into the AVS and HP now.
Fingers crossed for you that they don't crash and burn but that's the risk/reward of speculating as you are well aware
TP321 said:
Anyway, I am glad to have been proven right about the 720s residuals...
Also glad to hear that this crazy market is finally cooling and people will stop asking stupid money for yet the newer version of an existing car. Once the speculators are out of the market, the rest of us can continue to have access to these cars without having to wait years and risk losing a fortune.
A friend of mine came across an unregistered 488 Spider with immediate delivery - seller asking a £50k premium..
Hear hear !!Also glad to hear that this crazy market is finally cooling and people will stop asking stupid money for yet the newer version of an existing car. Once the speculators are out of the market, the rest of us can continue to have access to these cars without having to wait years and risk losing a fortune.
A friend of mine came across an unregistered 488 Spider with immediate delivery - seller asking a £50k premium..
Removing the speculators who stoked up the market in the first place and the market correcting and returning to some sense of norm has been long overdue and better for the genuine retail punter and enthusiast
RamboLambo said:
You don't need to prove anything to anyone but a bit of truth here and there wouldn't hurt.
As someone who claims to be smart can I suggest it may have been cheaper for you to have just hired a 720S for the length of time and number of miles you actually drove the damn car if you in fact made a significant loss rather than the more modest profit that you somehow expected.
You may want to rethink your strategy going forward so not to make the ( self confessed ) little bit of money you have even less by buying "loss" making cars - seems a strange plan to me but each to their own I guess.
I certainly couldn't afford and wouldn't want to be making significant losses on a new car every 2 months.
From the outset I've always wondered how you could have 5 cars on order from Geneva with them all arriving in a short timescale without flipping each one before the next one arrived.
Maybe you have had your fingers burnt this time, maybe not but looks like you are at least locked into the AVS and HP now.
Fingers crossed for you that they don't crash and burn but that's the risk/reward of speculating as you are well aware
There is no 'strategy', you thundering bellend. I just want to own and drive as many of these amazing cars as possible. As someone who claims to be smart can I suggest it may have been cheaper for you to have just hired a 720S for the length of time and number of miles you actually drove the damn car if you in fact made a significant loss rather than the more modest profit that you somehow expected.
You may want to rethink your strategy going forward so not to make the ( self confessed ) little bit of money you have even less by buying "loss" making cars - seems a strange plan to me but each to their own I guess.
I certainly couldn't afford and wouldn't want to be making significant losses on a new car every 2 months.
From the outset I've always wondered how you could have 5 cars on order from Geneva with them all arriving in a short timescale without flipping each one before the next one arrived.
Maybe you have had your fingers burnt this time, maybe not but looks like you are at least locked into the AVS and HP now.
Fingers crossed for you that they don't crash and burn but that's the risk/reward of speculating as you are well aware
Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
AOK said:
Once again, please can you explain exactly what tax HMRC would be going after Tom for?
Vehicles are Capital Gains exempt (for very good reason) and they'd have a very tricky time proving that Tom, a self-professed workaholic running numerous non-car related businesses, is buying and selling cars consciously for profit, let alone has the time for it!
And as for lying about the profit, I can't divulge too much as the deal is still ongoing, but as someone involved in the transaction I can confirm that despite our best efforts, Tom is coming away from the 720S with a significant loss (for such brief ownership).
Why do you think there little interest in a lightly used 720 when there's a 12 month lead time to buy new? Is it not strange that new cars appear to be selling well (or at least orders are being placed) and yet buyers don't want to get a virtually new one immediately unless the price is significantly below list. They're all happy to wait 12+ months. Odd.Vehicles are Capital Gains exempt (for very good reason) and they'd have a very tricky time proving that Tom, a self-professed workaholic running numerous non-car related businesses, is buying and selling cars consciously for profit, let alone has the time for it!
And as for lying about the profit, I can't divulge too much as the deal is still ongoing, but as someone involved in the transaction I can confirm that despite our best efforts, Tom is coming away from the 720S with a significant loss (for such brief ownership).
I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
AOK said:
Once again, please can you explain exactly what tax HMRC would be going after Tom for?
Vehicles are Capital Gains exempt (for very good reason) and they'd have a very tricky time proving that Tom, a self-professed workaholic running numerous non-car related businesses, is buying and selling cars in the line of business, let alone has the time for it!
And as for lying about the profit, I can't divulge too much as the deal is still ongoing, but as someone involved in the transaction I can confirm that despite our best efforts, Tom is coming away from the 720S with a significant loss (for such brief ownership).
I've not said they are going after TGE specifically but they are clamping down on all areas of tax avoidance so he should at least be aware that unlimited buying and selling of cars for a profit is not necessarily tax exempt for individualsVehicles are Capital Gains exempt (for very good reason) and they'd have a very tricky time proving that Tom, a self-professed workaholic running numerous non-car related businesses, is buying and selling cars in the line of business, let alone has the time for it!
And as for lying about the profit, I can't divulge too much as the deal is still ongoing, but as someone involved in the transaction I can confirm that despite our best efforts, Tom is coming away from the 720S with a significant loss (for such brief ownership).
You above most people should have an understanding of HMRC regulations in your line of business.
You could always give HMRC a ring for clarification
but I suggest you keep your head down personallyfoxsasha said:
Why do you think there little interest in a lightly used 720 when there's a 12 month lead time to buy new? Is it not strange that new cars appear to be selling well (or at least orders are being placed) and yet buyers don't want to get a virtually new one immediately unless the price is significantly below list. They're all happy to wait 12+ months. Odd.
I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
Some thoughts/logic:I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
Launch specs weren't to everyone's taste and had a small McLaren inforced 'Launch' premium.
Launch ones have been delayed so much the custom spec ones aren't that far off now, many people ordered two - one to tide over before the other. Partly as a result, there have been a fair few cancelled orders, so there are cars available, just not advertised by McLaren as they're not allowed yet.
Also waiting list is under 12 months for custom spec from what I know, so not end of the world.
Also Aug is quiet, and going into Winter. Two more possible variables.
FINALLY, early cars of a new model often approached with suspicion, especially McLaren.
foxsasha said:
Why do you think there little interest in a lightly used 720 when there's a 12 month lead time to buy new? Is it not strange that new cars appear to be selling well (or at least orders are being placed) and yet buyers don't want to get a virtually new one immediately unless the price is significantly below list. They're all happy to wait 12+ months. Odd.
I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
You're forgetting that the spread the trade takes can be anything up to 10%.I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
So on a £250k (list) car the seller might be selling it for £240k and the buyer might be buying it for £260k.
The seller is making a loss, the buyer is paying a premium.
Those are hypotheticals, but happier?
TGETV said:
There is no 'strategy', you thundering bellend. I just want to own and drive as many of these amazing cars as possible.
Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
Ahoy me hearty, I've been called many a thing ( by mainly you lately ) but thundering bellend Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
sounds quite complimentary especially coming from you.Maybe I should change my profile name.
Its so good of you to sell the cars so quickly for a loss so us mere mortals can pick up the scrapes afterwards - you're a modern day Robin Hood.
Anyway are we actually going to get any decent video content of your drive experience of the car or not. I thought that was the whole idea
TGETV said:
foxsasha said:
Why do you think there little interest in a lightly used 720 when there's a 12 month lead time to buy new? Is it not strange that new cars appear to be selling well (or at least orders are being placed) and yet buyers don't want to get a virtually new one immediately unless the price is significantly below list. They're all happy to wait 12+ months. Odd.
I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
Some thoughts/logic:I'm not doubting the loss, just trying to square new order demand against the lack of interest in cars available immediately.
Launch specs weren't to everyone's taste and had a small McLaren inforced 'Launch' premium.
Launch ones have been delayed so much the custom spec ones aren't that far off now, many people ordered two - one to tide over before the other. Partly as a result, there have been a fair few cancelled orders, so there are cars available, just not advertised by McLaren as they're not allowed yet.
Also waiting list is under 12 months for custom spec from what I know, so not end of the world.
Also Aug is quiet, and going into Winter. Two more possible variables.
FINALLY, early cars of a new model often approached with suspicion, especially McLaren.
RamboLambo said:
Ahoy me hearty, I've been called many a thing ( by mainly you lately ) but thundering bellend sounds quite complimentary especially coming from you.
Maybe I should change my profile name.
Its so good of you to sell the cars so quickly for a loss so us mere mortals can pick up the scrapes afterwards - you're a modern day Robin Hood.
Anyway are we actually going to get any decent video content of your drive experience of the car or not. I thought that was the whole idea
Nice. sounds quite complimentary especially coming from you.Maybe I should change my profile name.
Its so good of you to sell the cars so quickly for a loss so us mere mortals can pick up the scrapes afterwards - you're a modern day Robin Hood.
Anyway are we actually going to get any decent video content of your drive experience of the car or not. I thought that was the whole idea
And nope. You'll continue to get more of my utter drivel and nonsensical ramblings.
For all things heel and toe themed - there are lots of amazing channels to choose from. Mine not being one.
RamboLambo said:
I've not said they are going after TGE specifically but they are clamping down on all areas of tax avoidance so he should at least be aware that unlimited buying and selling of cars for a profit is not necessarily tax exempt for individuals
You above most people should have an understanding of HMRC regulations in your line of business.
You could always give HMRC a ring for clarification but I suggest you keep your head down personally
I'm incredibly aware of the rules and don't need to be an accountant to say with confidence that Tom's buying and selling of cars (for quite obviously personal use) would be of zero interest to HMRC considering a) cars are CG exempt and b) his antics make a net loss, not profit.You above most people should have an understanding of HMRC regulations in your line of business.
You could always give HMRC a ring for clarification
but I suggest you keep your head down personallyTGETV said:
There is no 'strategy', you thundering bellend. I just want to own and drive as many of these amazing cars as possible.
Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
So how are you funding these cars??Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
TP321 said:
TGETV said:
There is no 'strategy', you thundering bellend. I just want to own and drive as many of these amazing cars as possible.
Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
So how are you funding these cars??Might not be doing it in the cleverest way in hindsight but ultimately they end up back on the market for someone else to enjoy worst case - whether or not I've lost or 'made' cash. Don't lose any sleep over it, I don't.
Call me old fashioned but I've only ever bought a car for cash.
Financing a depreciating asset has always seemed "brace" to me.
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