Car flipping has become a normal thing lately. A manufacturer spends years and millions of dollars in creating a flagship limited edition car and gives it to anyone who has the pockets to pay for these cars. However, there have been times when this new owner had bought this car just so that he can flip it for an inflated value. This inflated value is not decided by him but by the market. And how does the market decide this value? Simple, when the demand is more than the supply.
For instance, there were more than 6000 applications for the new Ford GT when only 500 units were going to be produced. The demand and the outcry was so high that Ford decided to make another 500 units. These 1000 hand picked people were considered as the luckiest bunch in 2016. One of them was none other than WWE superstar John Cena.
John Cena with his new Ford GT in happier times.
John Cena took the delivery of his brand new Ford GT last month and news is coming in that he has already sold it for a price which is higher than its $500,000 MSRP. It might not have been difficult for him to find a new owner but this new law suit is going to make his life slightly difficult.
Ford have been very strict about the new GT and have made the owners sign a contract which states that they will accept the ownership of this supercar for atleast two years. Apart from the lawsuit, this was the statement release by Ford:
''Mr. Cena has made a large profit from the unauthorized resale flip of the vehicle and Ford has suffered additional damages and losses, including, but not limited to, loss of brand value, ambassador activity and customer goodwill due to improper conduct''
It is being reported that Ford wants John Cena to handover the profits made from this sale and as well as pay around $75,000 for the damages stated above in the lawsuit. However there has been a twist in this tale. Ford have reported that John Cena admitted to selling the car along with his other assets to generate cash for his expenses.
What do you think of car flippers? Should Ford set an example for the rest of the manufacturers by cracking down on these flippers?