Anyone else submitting an application for the Mustang GTD?

Boy this contract is RIDICULOUS

 

How so, haven’t gotten it yet? (assume prevents sale for 2 years, wondering if it is more than just that)

 

2 years... Lien... No corporations no trusts no dealers. No renting... Leasing... Loaning...

I mean 400k for a mustang... And then you are going to be an absolute ******* when it comes to structuring the asset.

I absolutely get the spirit of it... But this is a bit too far.

 

Ford sees what the speculators did with the latest GT and they are trying to keep more of the margin for themselves. Plus, I would suspect that it’s largely the same set of buyers. Having captured tremendous value on the FGT, makes it easier to justify getting jammed up on the GTD.

 

Your absolutely right... But it's also a great way to abuse your best customers.

There is a fine line.

Again a simple don't resale clause with a monetary penalty is fine but getting involved in the rest of it is a bit of an overreach to me.

It's annoying. Or... I'm annoyed. Lol.

What's funny is if they wouldn't have called it a mustang... And shaped it like a Daytona coupe or something... They could have sold them for 750k and resale would probably be 1-1.5.

But 400k for a mustang is a tough pill to swallow. But it's supposed to be amazing. I guess we will find out.

 

Ha! After calling THIS thing a Mustang? .... Now, THAT was tough pill! ..... whoever ok'd that decision should be tarred and feathered for desecrating the 'Mustang' name.

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I've got a little inside baseball on the reason why it's called the mustang. It doesn't make it right... But It gives some perspective

 

I get it. They want enthusiasts, not flippers. Tough line to walk. Can’t have trusts or corporations- that is too big a loop hole to change car ownership.

Not defending it one way or the other. My current thinking - not sure what I could have come up with any different.

 

Do the f50 route. 2 year lease. 1 dollar residual.

I see no issue With the LLC stuff. Again if you put the clause in to not sell it... With a fine. That is fair.

I know the LLC loop hole and I did enough Ford GT stuff to know how they watched it etc...

Once you sell the car... You don't own it. And you certainly don't have the right to tell me how to manage the asset. We can agree to not sell it. But if you have to jump through so many hoops for your best customers... Maybe they aren't your best customers.

But... We also don't have to buy the car either.

So I get multiple sides.

 

After the GT disaster, I wouldn't do that again. They had no regard for the original owners that drove their cars.

Joe

 

What was the gt disaster?

 

In the eyes of many who have posted their grievances on BAT and other social media sites,,NFGTs were flipped by owners who barely used them and were poor ambassadors of the brand. Many felt the selection process was flawed by rewarding disloyal takers.

 

So I'll give my take...

That was going to happen no matter what.

They tried to give the cars to enthusiasts... And indeed many did get them.

Ford did not play the Ferrari game which people constantly ***** about... What have you bought lately? Have you bought 9 Lincoln navigators? Do you own a business? Do you use focus for run arounds... Super duty for fleet operations and transit vans for hotel shuttling? They didn't play any of those games.

They tried a process and I think it worked.

In my opinion... Due to what actually happened which was a failed launch (typical Ford) they couldn't build the damn things... That caused more scarcity than originally planned and then COVID hit and the cars were worth insane money.

But hey... I was literally flipping brand new f450s. And making 10s of thousands... So I guess an ultra rare limited edition Ford gt would yield a similar if not great result... Which it did.

Some of us still retain our nfgt and we have been rewarded with GTDs.

So my point is... I don't think there was anything that would have siffted through the pile of applications better to only go to enthusiasts.

Really... What happened was a lot of guys and enthusiasts who were awarded cars couldn't afford them because the cars were so expensive. Some had to take on a partner or... It ended up becoming a large portion of their wealth ... Remember... These cars were supposed to be 400k... At the end... They were nearly 700k. PLUS... And this is the key. The cars shot up to over a million bucks.

So if you normally have a stable of let's say 1 million in cars... Or maybe you normally have 300k in cars.... You got an early Ford gt for 475k... And suddenly on delivery it's worth 1.3 million...

Ya... That customer is scared ****less and isn't going to drive it. They didnt set up to be a flipper. They bought a car enthusiastically and then the world flipped on its head... And suddenly they owned cars that were worth as much as some of their homes. It was a nerve racking experience and some people just aren't comfortable driving that kind of money around.

So for many that got it... The cars insane success became its Achilles heel... And it destined the car to most of the enthusiasts garages.

The guys with multiple million dollar car collections drove them as much as they drive their other cars... Which is almost never.

So while I understand exactly what you are saying... The circumstances changed for many.

 

You feel that putting on a show brought out the enthusiasts? It brougt out what they got and the GT owners and drivers were left out. A perfect example was John Cena. I rest my case.

Joe

 

1. That's one guy. Show me a method you would use that would be 100% effective.

2. The program wasn't to make sure the car was going to die hard blue oval guys. It was to go to people who would raise brand awareness. So being a celebrity who is into cars (as Cena is) wasn't a bad thought. Also he is like Captain America and has a very clean past so... Not a bad guy to rep your brand. He just screwed up. And for a while I was skeptical that that whole thing was a PR stunt. Like what better way to raise your awareness than to sue John Cena for breakingnthe rules. I know that's why out there... But I wouldn't put it past them. I mean even the settlement was to donate the money to charity.

 

Ford may not have an opportunity to run a Nürburgring hot lap this year. The weather is not great over the next week and it's only going to get colder.

https://www.thesupercarblog.com/ford-mustang-gtd-fails-to-set-a-nurburgring-record-but-not-cause-it-was-slow/

 

Has anyone received any communications since submitting your initial paperwork? I have not, but then again I've been out of town for a while. Maybe it came in the mail?

 

Not yet, f/u paperwork (i.e. GTD preference forms) should go out sometime this month.

 

I just got the email today about preference forms going out this month.

 

exactly what happened to a friend of mine. he got a Ken miles edition NFGT and actually drove it and took on track / road course hpde events.

He loved the car, sold some assets and moved money around to be able to get it.
In the end though he realized between idiots with their cell phones weaving thru traffic trying to get shots, and even bigger idiots on track trying to prove they could keep up with him, he decided to sell it.
And while he does miss it, he also made almost a half million dollar profit selling it.
He has other less expensive toys to play with, and he can say he briefly owned a NFGT