not again!? ugh

[canibl]

this is really frustrating

Ford goes to court to rescind original GT sale in Canada

The rare sports car was resold at more than twice the price to a Hong Kong buyer within weeks of its original sale in Canada, despite a two-year hold agreement, the automaker alleges in a lawsuit.

www.autonews.com

 

[AJB]

Yes sad. I thought that all 2018 and beyond Ford GT's were sold with "Ford Motor Co. " As a secured lien holder on every title.. given the John Cena debacle. ??
And that the lien was not lifted until 24 months.
Maybe our lawyer members can comment.
Do you guys with newer GT'S have "Ford "on your titles? As a 2nd lienholder.
Andy (ajb)

 

[B.M.F.]

Yes sad. I thought that all 2018 and beyond Ford GT's were sold with "Ford Motor Co. " As a secured lien holder on every title.. given the John Cena debacle. ??
And that the lien was not lifted until 24 months.
Maybe our lawyer members can comment.
Do you guys with newer GT'S have "Ford "on your titles? As a 2nd lienholder.
Andy (ajb)

Doesn't keep someone from selling the car and holding the title for two years. Unfortunately lots of this going around and it blows for guys like me who actually wanted to own a car to drive and not flip.. I can't afford to pay a million plus for a car and I laugh at those who have offered me cars at prices just below and above that, out of an in contract with Ford. Cause its simply out of my budget. Only reason I could afford to buy at msrp cause I have two other GT's to sell, take out a small loan and still would keep one 05.

Hopefully someday I will be able to buy a wrecked one and that is my only option right now.

 

[Gary]

Does Ford put a 2nd or 1st lein on the NFGT. If so on what basis since the car is paid in full by buyer? Understand 2 year no sale restriction with no issue. We know that going in but a lein in favor of Ford.

 

[dbk]

Yes sad. I thought that all 2018 and beyond Ford GT's were sold with "Ford Motor Co. " As a secured lien holder on every title.. given the John Cena debacle. ??
And that the lien was not lifted until 24 months.
Maybe our lawyer members can comment.
Do you guys with newer GT'S have "Ford "on your titles? As a 2nd lienholder.
Andy (ajb)

No liens on Canadian GTs.

Process questions should be directed to Ford Motor Company via the Concierge.

 

[B.M.F.]

Does Ford put a 2nd or 1st lein on the NFGT. If so on what basis since the car is paid in full by buyer? Understand 2 year no sale restriction with no issue. We know that going in but a lein in favor of Ford.

Yes they do, it's just the deal and it's been clear on this site and all over the place for two years now since the Cena deal.. It's not a lien in favor of Ford, it's a lien to stop some people from being assholes and selling their cars before two years legally. You agree to the two year lien of $1.00 and the 2 year NO SELL contract when you buy it and sign the papers. During that two year period if you have to sell the car for any certain reason, you contact Ford and they will buy it back. Pretty sure how that works and pretty sure that's been made clear several times here..

 

[lc2006]

Not to sound like an idiot but....

When I took delivery of my 2020 GT earlier this month the Ford dealer handed me several papers to sign. There was no financing involved with the purchase, so none of the documents were loan docs. The dealer referred to one of the docs. as a "non-financial lean." It mentioned something about Ford having some kind of interest in my GT, but I only scanned the doc. I did not read it.

My GT will not be sold until I become worm food -- if even then -- so I simply didn't care enough about the structure of Ford's two-year interest in my GT to read the doc. That may sound rather daft on my part, but that is just the way that it is.

 

[Gary]

Not to sound like an idiot but....

When I took delivery of my 2020 GT earlier this month the Ford dealer handed me several papers to sign. There was no financing involved with the purchase, so none of the documents were loan docs. The dealer referred to one of the docs. as a "non-financial lean." It mentioned something about Ford having some kind of interest in my GT, but I only scanned the doc. I did not read it.

My GT will not be sold until I become worm food -- if even then -- so I simply didn't care enough about the structure of Ford's two-year interest in my GT to read the doc. That may sound rather daft on my part, but that is just the way that it is.

How do you pay sales tax and license in your state. In Missouri the dealer provides you a title application andMSO with lein if any noted on it and selling price. Buyer takes that to a license office and pays sales tax and applies and gets license plate.

 

[Gary]

Yes they do, it's just the deal and it's been clear on this site and all over the place for two years now since the Cena deal.. It's not a lien in favor of Ford, it's a lien to stop some people from being assholes and selling their cars before two years legally. You agree to the two year lien of $1.00 and the 2 year NO SELL contract when you buy it and sign the papers. During that two year period if you have to sell the car for any certain reason, you contact Ford and they will buy it back. Pretty sure how that works and pretty sure that's been made clear several times here..

Never heard or seen any reference to a lein? Understand and have no problem with 2 year ownership requirement.

 

[Special K]

Not to sound like an idiot but....

When I took delivery of my 2020 GT earlier this month the Ford dealer handed me several papers to sign. There was no financing involved with the purchase, so none of the documents were loan docs. The dealer referred to one of the docs. as a "non-financial lean." It mentioned something about Ford having some kind of interest in my GT, but I only scanned the doc. I did not read it.

My GT will not be sold until I become worm food -- if even then -- so I simply didn't care enough about the structure of Ford's two-year interest in my GT to read the doc. That may sound rather daft on my part, but that is just the way that it is.

I just signed mine an hour ago, my feeling exactly. This document only means something to someone with nefarious ideas in mind. The point is, let’s not get hung up on the few (or even dozens) of unethical sales because the vast majority of GTs went, or are going to some really great people. The selection process was an overall success.

 

[Gary]

No liens on Canadian GTs.

Process questions should be directed to Ford Motor Company via the Concierge.

Curious, what if a owner turns room temperature during the 2 year window?

 

[Special K]

Curious, what if a owner turns room temperature during the 2 year window?

The car goes to the family in past experience.

 

[fjpikul]

Deal with the estate

 

[lc2006]

How do you pay sales tax and license in your state. In Missouri the dealer provides you a title application andMSO with lein if any noted on it and selling price. Buyer takes that to a license office and pays sales tax and applies and gets license plate.

Here where I live, the new car dealer takes care of the application for title, application for a license plate, and remits all fees to the state.

I took a look at what I signed on the day that I took delivery of my GT... it is a Ford GT Security Agreement. Basically, it says that you cannot sell the car for two years. As I mentioned previously, I could care less what the Security Agreement says; to me the document is totally irrelevant because my GT will never be for sale.

I also looked at a copy of the application for title. This doc. lists Ford Performance as having the first security interest in my GT. There is nothing listed in regard to the value of that security interest. I certainly understand why Ford puts all of this stuff in place, but it is of no interest to me. These things have zero impact on my enjoyment of my GT.

 

[TACHY]

I also believe that FMC holds a “noneconomic lien” on the car for two years to prevent resale. Does not impact registration at least in the state of Florida.

 

[lc2006]

I just signed mine an hour ago, my feeling exactly. This document only means something to someone with nefarious ideas in mind. The point is, let’s not get hung up on the few (or even dozens) of unethical sales because the vast majority of GTs went, or are going to some really great people. The selection process was an overall success.

Hear, hear!

 

[B.M.F.]

Never heard or seen any reference to a lein? Understand and have no problem with 2 year ownership requirement.

Well you know now about the lien. Which is also part of the purchasing agreement you sign. It's not a big deal as long as you don't plan on selling with in the two years.

 

[texas mongrel]

No lien on my 2019 car

 

[Sinovac]

One of the defendants, Timothy Quocksister, gets a shout out for an entertaining last name that sounds like something Canadian hillbilly siblings enjoy from time to time.