It appears that John Cena, the WWE star wrestler, has come face to face with an unlikely opponent and the battle is sure to garner a lot of media attention. John Cena has ruffled the feathers of the Ford Motor Company who is suing the superstar for breaching the purchase agreement.
The car maker has accused John of selling 2017 Ford GT just after taking possession of the vehicle. The purchase agreement prohibits John from selling his new 2017 Ford GT for a period of at least 2 years. The Ford GT is worth $463,376 and John is said to have made a neat profit by reselling the car.
Loss of brand value
John’s action of car flipping has irked Ford because of the loss of brand value I has suffered by the superstars dissociation from the vehicle. The powerful Ford GT is one of the vehicles that is meant to polish Ford’ brand image. Moreover, the model has been launched only in limited numbers. The limited edition GT is equipped with a 3.5-liter V-6 engine that delivers 647 horsepower.
Need for a dealer license
Apparently, selling a new car without a dealer license is deemed illegal in every US state. Every US state requires the new car owner to register the car and pay the necessary fees and taxes. Moreover, selling the new car for a profit entitles the new owner to pay additional taxes. All car enthusiasts can be car flippers and all that is required is the registering themselves as legitimate car dealers.
It is for this reason that the Ford Motor company had enquired about John Cena’s intentions while selling the prized GT. Prospective owners of the Ford GT need to follow a stringent application process. And the car maker scrutinizes all the applications for sifting out potential car flippers.
During the time of the sale, John had projected himself as an avid car collector who is interested in limited edition models. However, it is clear that the famous celebrity had ulterior motives and hence his actions have given rise to legal disputes.
Dubai: The Gulf’s largest market for car flipping
Dubai has always been known as a haven for buying and selling luxury cars. The market has been immune to the global financial crisis as well as the political upheaval in other Middle Eastern regions. Considering the huge profit potential in car flipping business, car makers like Ford, Aston Martin and Ferrari are formulating policies that prohibit their customers from selling their luxury cars without using.