Got an allocation for the GTD

[buddyg]

Nice!

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[Dark Sprite]

How does Ford enforce the 2 year lock? Is the car mortgaged with them, and if so on what legal basis if you’re fully paid up?

 

[Junkyard Dog]

How does Ford enforce the 2 year lock? Is the car mortgaged with them, and if so on what legal basis if you’re fully paid up?

This was eight years ago:

Upon hearing of the car's availability at Mecum, Ford sought a court injunction to stop its sale, which was denied the evening prior to the car's auction date. The reasoning given was that the GT's owner and consigner had a legal right to sell the car as he had no such contract himself with Ford. The judge also decreed that since the title for the car showed no obligation to Ford regarding its sale, there was nothing to enforce on Ford's behalf.​

​

Nevertheless, Ford persevered and recently reached a settlement with Mecum, the terms of which are only partially made public. What is known is that Ford and Mecum have agreed that:​

​

​

Mecum will not accept for consignment sale any Ford GT owned by its original purchaser that is still subject to the two-year sales moratorium.​

​

Mecum will consult with Ford regarding any Ford GT consigned with Mecum by any downstream purchaser (i.e., not that GT's original purchaser) for the first two years following the GT's initial sale to the original purchaser, and will not permit the auction sale of that GT during that time without Ford's consent; and​

​

Settlement proceeds from Mecum will be donated to the Ford Motor Company Fund.​

https://www.motortrend.com/news/ford-mecum-settlement-ford-gt-supercar-auction

 

[Junkyard Dog]

Ibid.

This is the second such instance that Ford has litigated, the first occurring when professional wrestler John Cena sold his 2017 example to a California-based dealership less than a month after taking delivery. Legal wrangling took roughly half a year until a settlement was reached, with Cena agreeing to pay an undisclosed sum to Ford, which would then be donated to charity.​

 

[93_SVT_3503]

How does Ford enforce the 2 year lock? Is the car mortgaged with them, and if so on what legal basis if you’re fully paid up?

I believe they make you finance through them even, if you pay in full, and the title is not released into your name for 2 years from the purchase date.

 

[buddyg]

6. Sales of the GTD. I understand and acknowledge that (a) Ford will not be the seller of the GTD; (b) sales of the GTD
will be made by Ford dealers in the Participating Territories (except with respect to sales in France, Germany, Italy,
Spain, and Sweden, as to which I understand that sales will be made by Ford or Ford affiliates); (c) after verification
of my eligibility and my compliance with the Terms and Conditions, I will be invited to discuss a potential purchase
of a GTD on terms to be agreed to by the seller and me; (d) the purchase price and all other terms of sale will be
determined by the seller in accordance with such terms and processes as the seller may establish; (e) in addition to
the general restriction on transferring the GTD within 24 months of delivery under the Terms and Conditions, each
seller of a GTD will have the right to condition the sale on the purchaser’s agreement to restrictions on resale or
transfer of the GTD or to a right of the seller to repurchase the GTD within specified time periods, to the extent such
restrictions or requirements are permitted under applicable law. Such restrictions may include, but not be limited
to, the resale of the GTD within the first twenty-four (24) month period after delivery by the seller, to maintain of
ownership of the GTD for the entire 24-month period after delivery by the seller, and to enter into agreements
related to this ownership requirement; (f) as security for the payment and performance of all obligations, Ford will
retain the option to be granted a continuing security interest on any GTD for up to the entire twenty-four (24) month
period after delivery by the seller, or otherwise as allowable by law, and Ford and the participating dealers may
note any liens on the documents of title and I agree to register the vehicle with Ford’s lien in the jurisdiction where I
take delivery of the vehicle, or in another jurisdiction as allowed by Ford, and to execute and deliver any documents
necessary for this purpose; (g) the purchase price and all other terms of sale will be determined by the seller in
accordance with such terms and processes as the seller may establish (h) GTDs will be delivered only to locations
in which sale and delivery of the GTD is lawful. I understand and acknowledge that any rights obtained by me in
connection with the Program are not transferrable

 

[Junkyard Dog]

6. Sales of the GTD. I understand and acknowledge that (a) Ford will not be the seller of the GTD; (b) sales of the GTD
will be made by Ford dealers in the Participating Territories (except with respect to sales in France, Germany, Italy,
Spain, and Sweden, as to which I understand that sales will be made by Ford or Ford affiliates); (c) after verification
of my eligibility and my compliance with the Terms and Conditions, I will be invited to discuss a potential purchase
of a GTD on terms to be agreed to by the seller and me; (d) the purchase price and all other terms of sale will be
determined by the seller in accordance with such terms and processes as the seller may establish; (e) in addition to
the general restriction on transferring the GTD within 24 months of delivery under the Terms and Conditions, each
seller of a GTD will have the right to condition the sale on the purchaser’s agreement to restrictions on resale or
transfer of the GTD or to a right of the seller to repurchase the GTD within specified time periods, to the extent such
restrictions or requirements are permitted under applicable law. Such restrictions may include, but not be limited
to, the resale of the GTD within the first twenty-four (24) month period after delivery by the seller, to maintain of
ownership of the GTD for the entire 24-month period after delivery by the seller, and to enter into agreements
related to this ownership requirement; (f) as security for the payment and performance of all obligations, Ford will
retain the option to be granted a continuing security interest on any GTD for up to the entire twenty-four (24) month
period after delivery by the seller, or otherwise as allowable by law, and Ford and the participating dealers may
note any liens on the documents of title and I agree to register the vehicle with Ford’s lien in the jurisdiction where I
take delivery of the vehicle, or in another jurisdiction as allowed by Ford, and to execute and deliver any documents
necessary for this purpose; (g) the purchase price and all other terms of sale will be determined by the seller in
accordance with such terms and processes as the seller may establish (h) GTDs will be delivered only to locations
in which sale and delivery of the GTD is lawful. I understand and acknowledge that any rights obtained by me in
connection with the Program are not transferrable

Ah! It looks like Ford learned their lesson after losing the injunction attempt against Mecum. Now they note a restriction on the title. Subsection (f).

 

[OmegaDH]

Interesting. How this any different than what is happening with Raptor Rs? Seems Ford is being inconsistent here. Seems they either care that people are flipping their cars immediately for profit or they don't. Because a vehicle is a vehicle. And a sale is a sale. If you got the money to buy one of these then you might have the money to challenge.

Edit* If Ricky Bobby makes a boatload of cash off of my logic, a Whipple supercharger with some strippers on the side would be a nice thank you.***

 

[Q6543]

Raptor R isn’t “invite only”
Apple/orange

 

[OmegaDH]

I'm not a lawyer. But I've been told that if it walks like a duck and quacks like a duck

 

[LouG]

If you ain't first you're last.

I was high when I posted this.

2nd is the first loser

 

[Hack]

What is the consensus on the GTD. Do you think it will increase in value over time like the Ford GT? Or will it just depreciate like any other Mustang?

There's no doubt in my mind the value will increase, because very few will be made and most will be driven very little.

 

[Kaleza]

If you are buying gtd just so you can sell it later for more money than gtd is not for you. Invest in fucking real estate and let people who are going to love and drive the car have it. Just my two cents

 

[OmegaDH]

If you are buying gtd just so you can sell it later for more money than gtd is not for you. Invest in fucking real estate and let people who are going to love and drive the car have it. Just my two cents

Wouldn't that same logic apply to those that buy them and park them....

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