GTD application halted

[MAGS1]

Not true. FGT owners were given the titles and the have a non-financial lien on the titles. This was done in the wake of the John Cena sale (was an understanding that they wouldn't be sold) and he broke that agreement, hence the non-financial liens.

That makes more sense from a registration and insurance standpoint. I’m not sure how you’d do it otherwise if Ford actually held the title.

Sponsored

 

[wingnutt]

No dog in the fight, but a 35 mile 2019 GT just sold recently…

 

[MAGS1]

No dog in the fight, but a 35 mile 2019 GT just sold recently…

Probably start seeing these at auction soon too. Saw one in for service last summer, my dealer is going to call me whenever he comes back for service so I can get some pics this time. I took a video with my GoPro last year but the video file got corrupted when I saved it to my computer

https://www.caranddriver.com/news/a33613444/2021-ford-gt-heritage-edition-revealed/

 

[PP0001]

Not true. FGT owners were given the titles and the have a non-financial lien on the titles. This was done in the wake of the John Cena sale (was an understanding that they wouldn't be sold) and he broke that agreement, hence the non-financial liens.

Fair enough and well aware of the John Cena sale with Mecum.

Did you purchase a 2018 Ford GT or newer from Ford and if so was that the process for you?

 

[CharlesC]

Fair enough and well aware of the John Cena sale with Mecum.

Did you purchase a 2018 Ford GT or newer from Ford and if so was that the process for you?

Sorry - didn't mean for that comment to come of snarky. Not exactly true, but on the right track would have been more appropriate there.

While I am a Ford owner (currently a 2022 Raptor and 2019 GT350) I am not a FGT owner. My father does own a 2005 FGT (bought in like 2009 or 2010, I forget) and a 2021 FGT in the heritage livery.

 

[MAGS1]

Sorry - didn't mean for that comment to come of snarky. Not exactly true, but on the right track would have been more appropriate there.

While I am a Ford owner (currently a 2022 Raptor and 2019 GT350) I am not a FGT owner. My father does own a 2005 FGT (bought in like 2009 or 2010, I forget) and a 2021 FGT in the heritage livery.

The Heritage Livery is one of my faves. I have it in 1/18 scale. The real deal is beyond my wallet’s capacity unfortunately.

 

[PP0001]

Sorry - didn't mean for that comment to come of snarky. Not exactly true, but on the right track would have been more appropriate there.

While I am a Ford owner (currently a 2022 Raptor and 2019 GT350) I am not a FGT owner. My father does own a 2005 FGT (bought in like 2009 or 2010, I forget) and a 2021 FGT in the heritage livery.

No worries and appreciate your timely response.

Here is what I understand to be the process based on helping a great friend of mine with his 2021 Ford GT which came in at $620,400.

After he spec'd out his 2021 Ford GT the order was confirmed by his Ford GT concierge and he paid 50% up front to the dealership (about 3 months prior to production) with the remaining 50% being paid about 3 weeks prior to taking delivery at his Ford dealership.

Once the 2-year Ford GT ownership commitment was completed (based on delivery date and not payment date) he received an email from the Ford GT Concierge Team advising him that the non-financial lien (title) would be released that same day and requested an address to courier it to.

This particular vehicle was paid for up front and can confirm that Ford held his title for 2 years from the time of taking delivery and that the non-financial lien that was being held by Ford was the actual title for his Ford GT.

If your Father received the title from Ford for his 2021 Ford GT prior to completing the 2-year ownership commitment from time of delivery that is certainly different from what I understand to be the process and have a copy of Ford's email confirming sending out the title (non-financial lien) once the 2-year ownership commitment was completed.

I also suggest that this process was changed by Ford sometime after the John Cena scenario and the sale of his 2017 Ford GT but not sure exactly when that was instituted?

@Inthehighdesert, appreciate your concerns and comments but the vehicle I speak of was paid for in cash therefore I cannot comment as to what the process would be when financing is involved?

Having said that I would have a difficult time understanding how Ford would release a Ford GT title to a financial institution for any said vehicle (but would not do that for a cash buyer?) as they again would lose control of the 2-year none sale agreement process?

 

[Inthehighdesert]

Question. I’m assuming these cars were registered or were they not. NM will only recognize a financial lein, and weirdly enough if you know what your doing you can actually pay to have it removed and they’ll issue another title. Messed up but it happens. UCC filings are done as well here but those are done predominantly on equipment that doesn’t have titles, just bills of sale.

No worries and appreciate your timely response.

Here is what I understand to be the process based on helping a great friend of mine with his 2021 Ford GT which came in at $620,400.

After he spec'd out his 2021 Ford GT the order was confirmed by his Ford GT concierge and he paid 50% up front to the dealership (about 3 months prior to production) with the remaining 50% being paid about 3 weeks prior to taking delivery at his Ford dealership.

Once the 2-year Ford GT ownership commitment was completed (based on delivery date and not payment date) he received an email from the Ford GT Concierge Team advising him that the non-financial lien (title) would be released that same day and requested an address to courier it to.

This particular vehicle was paid for up front and can confirm that Ford held his title for 2 years from the time of taking delivery and that the non-financial lien that was being held by Ford was the actual title for his Ford GT.

If your Father received the title from Ford for his 2021 Ford GT prior to completing the 2-year ownership commitment from time of delivery that is certainly different from what I understand to be the process and have a copy of Ford's email confirming sending out the title (non-financial lien) once the 2-year ownership commitment was completed.

I also suggest that this process was changed by Ford sometime after the John Cena scenario and the sale of his 2017 Ford GT but not sure exactly when that was instituted?

@Inthehighdesert, appreciate your concerns and comments but the vehicle I speak of was paid for in cash therefore I cannot comment as to what the process would be when financing is involved?

Having said that I would have a difficult time understanding how Ford would release a Ford GT title to a financial institution for any said vehicle (but would not do that for a cash buyer?) as they again would lose control of the 2-year none sale agreement process?

 

[MAGS1]

Having said that I would have a difficult time understanding how Ford would release a Ford GT title to a financial institution for any said vehicle (but would not do that for a cash buyer?) as they again would lose control of the 2-year none sale agreement process?

They would likely have to negotiate with the financial institution to allow their lien to remain on title. Could be a subordinated position to the financial institution (most don’t allow a secondary position though, even if it is subordinate).

Unless Ford is the one providing the financing, then that would take care of itself obviously. It’s not Ford’s first rodeo here so I’m assuming they’ve got it structured in a way that does not prevent registration and insurability. Would be curious to read how it’s structured though if anyone is willing to share.

@Inthehighdesert I’ve seen a newer Ford GT (still within the 2 year window, it was the Heritage Edition I saw last summer) with plates here in the IL so it was registered (can’t get plates without registration in IL). Not sure what the process is and if they paid cash for the car or not so I can’t speak to the lien situation there. I know every state is different but that one was able to be registered here by all indications.

 

[PP0001]

Question. I’m assuming these cars were registered or were they not. NM will only recognize a financial lein, and weirdly enough if you know what your doing you can actually pay to have it removed and they’ll issue another title. Messed up but it happens. UCC filings are done as well here but those are done predominantly on equipment that doesn’t have titles, just bills of sale.

Knowing my buddy very well he typically registers his vehicles therefore would suggest that is the case.

Just looked at his vehicle again last month and it is simply gorgeous in Liquid Red with Frozen White OTT stripes and 20" CF Gloss Exposed wheels.

Suggest that a UCC filing or some other sort of legal arrangement would be implemented when financing is involved with Ford holding the original title until the 2-year commitment is up after which time the title would then be sent to the financial institution in question for them to hold until the vehicle is either paid off or sold.

 

[Inthehighdesert]

I’m curious so I’m going to see what I can find out. I do know no bank or credit union I used for financing for customers when I was a dealer would subordinate their position. It’s been a while since I was directly involved but I’ve got several friends still in the business and I’ll reach out and ask them. One is a franchised dealer. On some level its more convoluted then a business deal which isn’t what a car purchase should be. That parts really unfortunate.

Knowing my buddy very well he typically registers his vehicles therefore would suggest that is the case.

Just looked at his vehicle again last month and it is simply gorgeous in Liquid Red with Frozen White OTT stripes and 20" CF Gloss Exposed wheels.

Suggest that a UCC filing or some other sort of legal arrangement would be implemented when financing is involved with Ford holding the original title until the 2-year commitment is up after which time the title would then be sent to the financial institution in question for them to hold until the vehicle is either paid off or sold.

 

[CharlesC]

The Heritage Livery is one of my faves. I have it in 1/18 scale. The real deal is beyond my wallet’s capacity unfortunately.

I haven't seen it in person, but photos are pretty wild.

 

[MAGS1]

I haven't seen it in person, but photos are pretty wild.

That’s a spectacular lineup! The Gulf livery is pretty cool too.

 

[PP0001]

I haven't seen it in person, but photos are pretty wild.

Outstanding group of Ford GT's and thanks for posting.

On another note, were you able to confirm that your father received his title from Ford prior to satisfying his 2-year Ford GT Ownership Commitment?

 

[CharlesC]

Outstanding group of Ford GT's and thanks for posting.

On another note, were you able to confirm that your father received his title from Ford prior to satisfying his 2-year Ford GT Ownership Commitment?

He has a physical title in hand for the car. He said there is a non-financial lien on it (would assume this is noted on the title but I haven't seen the copy).

Sponsored