New Ford GT

Agree.
I once bought a Patek while on vacation in Scotland. A model I had been dreaming about and couldn't find locally, so on a whim I bought it.
I declared it in Customs, knowing it would cost me thousands.
The Custom Agent actually seemed irritated that I claimed it (it was a holiday weekend) and doing the paperwork and getting the money, etc.
He even said jokingly, "why didn't you just walk through, we never would have noticed?"
I said, "Beacuse my two sons are here and that is the wrong lesson to teach."

 

It's amazing how many people willingly admit to being unscrupulous on the internet.

It's also amazing people are willing to argue the minutiae of this situation. It was a voluntary and unambiguous agreement signed between two parties. "Yeah, but in court..." At least it makes it easy to figure out what people to never to do business with, let around your children, etc.

 

Welcome to 21st century ethical relativism. Many seem to read into the voluntary and unambiguous agreement Cena signed a "gee, I can make a bunch of money quickly" exculpatory clause. Pathetic really.

 

That's an awesome lesson for your children. Think about the world we could live in if every parent taught it.

 

Given the foregoing debate on who is right or wrong, I've had a chance to look at all the paperwork in detail again and conclude from a business person's standpoint that the contract is probably valid and enforceable. It really takes several readings of ALL the paperwork to fully understand what one is agreeing to with Ford regarding "the program." To me, this seems to be more of a lease for the time being rather than a sale, but that determination is up to the legal scholars here.

In the Cena incident, things will probably come down to Paragraph 6 of the Affidavit of Eligibility and Release which reads in part: "… or the right of the seller to repurchase the GT within specified time periods." This implies to me something of a right of first refusal.

The Terms and Conditions section contains a number of enlightening statements that seem to pertain to the Cena situation. All statements were in all caps (I'll spare you) except the last one:

* If you do not agree to the Terms and Conditions, do not submit an application.
* Paragraph #2- Not an offer or contract for sale.
* Paragraph #14- Caution: any attempt by an applicant to deliberately undermine the proper operation of this program may be a violation of criminal and civil law … Ford reserves the right to seek damages.
* Any rights obtained by an applicant are not transferrable.​

Interesting that the word "criminal" is used above by Ford. Perhaps to scare or there might be a basis in law relating to "selling" something that is not yours (yet).

Anyway, whoever bought the car probably has a very clouded title situation facing them.

Question for those here who received delivery of a GT: Did you receive a title yet from Ford and are there any limitations recorded on the certificate? Your experience may help to clarify if this is a lease or a sale situation.

Here is the link to the law suit for anybody who wants to delve deeper. Be advised that you will need to bend your neck 90 degrees to read the T&C and the AER, or sign up to download.

https://www.scribd.com/document/366036207/Cena-Lawsuit?irgwc=1&content=10079&campaign=Skimbit%2C%20Ltd.&ad_group=33330X911653Xa621dbbcc2931a88c192f3933f247e9c&keyword=ft750noi&source=impactradius&medium=affiliate&irgwc=1&content=10079&campaign=Skimbit%2C%20Ltd.&ad_group=112499X1570988X049fbde19fbcff718e5130c4d73fc33c&keyword=ft750noi&source=impactradius&medium=affiliate#from_embed

 

Title received from state immediately. Only info on the title is mine.

 

The car is not a lease, so they lost ownership when it was titled to Cena. He could be liable for breach of contract with some kind of fine but I don't think they have the right to do much about the sale. Other car companies have enforced this by leasing. Wasn't there a case with a leased GM electric car that was not returned?

 

I don't believe Ford's complaint has a count for specific performance on the right of first refusal, so yes, Ford is seeking damages only and doesn't seem to have any interest in getting the car back. This is smart in my view. Who knows what condition the car will be in if a court ordered its transfer back to Ford. Cena was kind enough to prove a portion of Ford's damages by selling the car to a third party. Sale price to third party minus the sale price to Cena equals the damages on the right of first refusal. Very easy. I think Cena will take it in the shorts in this lawsuit.

 

was the buyer of Cena's GT ever revealed? has Ford sued him/her/them yet?

 

How could Ford sue the buyer? They didn't have a Contract with Ford.

Joe

 

you don't need a contract to sue someone.

also, I'll assume that the buyer had applied for and been rejected (or waitlisted) for a GT. In the terms and conditions, ALL applicants agreed as part of the application process to not interfere with the allocation process...I think this is doing that.

 

It’s going to be very hard for Ford to claim any damages. Not sure any jury will buy that.

 

The latest is that Cena sold it to a Dealer for a relatively small profit and the Dealer turned around and sold it for a much larger profit!

Joe

 

lol!

 

Ford FAIL

 

Cena fail too apparently. didn't even capture the profits.

 

Ford Fail. Sued the wrong people!

 

If so, sounds like the dealer didn't wet the right beaks at Ford and Ford didn't check the chain of subsequent sales prior to going after Cena. But they're new at this ...

 

You guys are funny.

 

Funny all these opinions and speculations. Cena received close to 2mil. The broker is shipping overseas for an additional profit, that amount is unknown. Ford has absolutely in interest in persuing the broker or the eventual overseas buyer as they have done nothing wrong.

 

+1000

I imagine the only reason they didnt build more is that this car is being built by a race shop and more production would have required building and staffing a facility to acheive this. Still I hate this limited gotta have it game. But with comeptition in the market place and more players this game will slowly die, just as opec did when more oil supply was found elsewhere. it takes time but eventualy other people move in to sate market need.

 

Name a car made available to the public for homologation purposes that’s been produced in the multiple thousands. In fact, name all the homologation cars that had a production run of at least 1,000.

 

Yes they do, the buyer buys the car from ford, not the dealer. The dealer only handles the delivery for a fee from Ford

 

its numbers vs demmand.
The Stratos and Ford Rs 200 were produced in bigger numbers than demand. I dont know but is a porche Gt3 a homoglation car? Subaru Wrxs?
While not ahomoglation car the F40 was produced in enough numbers that those who wanted one got one. It avoided the rampant speculation and customer alientaion and its values have still risen nicely, thats the way to do it and satisfy custromers.

 

The buyer I was talking about was Cena's buyer. They didn't have a direct connection to Ford.

Joe