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Old 03-28-2020, 01:59 PM   #105
Chief title editor
clyde's Avatar
Join Date: Oct 2003
Posts: 24,226
Originally Posted by JST View Post
What’s the deal on the mustang track car? Curious about that.

To get the rebate do you have to trade the car in?
Second question first, no. Trade/sale not required unless it's an employee purchase program deal. I still haven't seen the fine print, but the big print reads:
Offer applies to customers who currently own or lease a Ford Mustang. Competitive owners are not required to trade in their qualifying vehicle unless the vehicle is being delivered under the GM employee purchase program. Offer is available on finance deals only. Customer must have owned/leased the Ford Mustang for a minimum of 30 days prior to the sale of the new vehicle. For deliveries under those programs, the customer must have a competitive lease with a scheduled end date withing 365 days of the delivery date of the new vehicle. This offer can be transferred to individuals residing in the same household.
The Mustang story...

Friend 1 bought a lightly used 2005 Mustang in 2005 (I was mistaken about him being the original owner). Friend 1 sold/gave the car and a signed title to Friend 2 in 2015. Friend 2 never did anything with the title because it was never going to be used on the street.

By the time Friend 2 got it, it was already halfway gutted for CP and I don't think it had been driven on the street in the previous two years. When Friend 2 got it, he immediately got to work on it, but changed directions from CP autocross to track only.

Because of how liens are recorded and released in MD, it's just some extra paperwork. The lienholder should have sent Friend 1 a document when the loan was paid off and Friend 1 should have given that document to Friend 2 with the title, but did not. To title it in my name, I need 1) that document, 2) a signed letter from the lienholder to Friend 1 on company letterhead saying the lien was satisfied, or 3) Friend 1 to get a duplicate title from MVA without the lien info.

He just texted that he doesn't know where the document is or if he still has it. Option 2 is a phone call or online request. Option 3 would require him to leave the house and interact with people (at a tag & title company since MVA is closed to the public). So, we're going with Option 2. (I'm not asking anyone to go outside for this and if he offered, I'd ask him not to.)

This gambit has some risks:
  • Will the title be enough?
  • Does the Mustang actually have to tagged?
  • Will events conspire to force a purchase before the 30 day clock expires?
  • Will events lead me to purchase a car where the rebate will not apply?
  • Will the conquest rebate be active when I buy

At worst, I think I'd be out about $200. For a potential $3k savings, I'm good with that.
OH NOES!!!!!1 MY CAR HAS T3H UND3R5T33R5555!!!!!!1oneone!!!!11

Team WTF?!
What are you gonna do?
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