Got an allocation for the GTD

[buddyg]

Nice!

Sponsored

 

[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.

Sponsored