Hagerty Video: $700,000 Value INCREASE in 2 years: 2020 Ford GT | The Appraiser

Posted: 2023-03-17 12:00:17
Author: Hagerty
Episode 29:

In this episode of “The Appraiser,” Colin tries to put a value on a 2020 Ford GT that has one of the most desirable paint combinations and trim packages you could get in 2020. While it’s only a two-year-old car, its value has more than doubled since Bill, the owner, signed on the dotted line. Tune in and find out why this car has increased in value.

This episode is presented by Hemmings (https://www.hemmings.com/)

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Hagerty Video Transcript

– [Colin] Another Ford GT. – [Bill] This one’s a little newer. – 2020 Ford GT. MSRP is around 615. This was not available unless you got the carbon package. You want painted mirrors and a stripe? It’s 15 grand. Ford was not giving away stuff. – After the 600,000, it didn’t make any difference. – [Narrator] Turn your driving dreams into a reality at hemmings.com, the world’s most trusted collector car marketplace since 1954. Hemmings offers live online auctions and tens of thousands of collector cars, trucks, and bikes, daily. – [Colin] Hey, Bill. – Hey, Colin. We meet again. – How are you? – I’m doing fine. – Yeah, we meet again. Another day, another- another Ford GT. – [Bill] This one’s a little newer. – [Colin] Obviously you’re a Ford GT guy, but I’m curious because,

You’d been hand selected to get one of these cars and place an order. So, how did you end up getting this car? – [Bill] Interesting question. I applied for the first one in 2016 and there was a third question was, “Do you influence public opinion?” No. And then I got a letter.

“No, you’re not gonna get one.” Yeah, that’s what I expected. And then in 2018 they introduced the the Gulf colors at Monterey Historics. They had all the cars on the track that evening, and I took a bunch of pictures and I went to dinner that night.

Sitting there with my friends at a little restaurant. There’s a couple sitting over there with their family. The guy stood up and turned around, and I was wearing the jacket that I got at the La Mans 2016, and he turned around and looked at me, he goes, “Where’d you get that jacket?”

I said, “You had to be there.” And he goes, “Yeah”. He says, “Did you see the new car today?” And I said, “Yeah, I did. I took a bunch of pictures.” He says, “Well, I was driving the car on the track, the new one.” And I said, “How’d you manage that one?”

He says, “Well, I work for Ford, and the development of that car was my responsibility.” Mm. He goes, “No, no.” I says, “Hey, you guys won La Mans. It’s a great looking car. A great performance. Congratulations to you and your team. Great job.” He said, “Thanks.”

I said, “Yeah. I applied for one and I didn’t get one.” He looked at me, took his card out of his pocket, laid it on the table and said, “Next time, just use my name.” That’s how I got the car. – Really? – Yeah. That’s it. I called him up and thanked him

After I got the congratulations letter, and I said, “Herman, if it hadn’t been for you, I would’ve never gotten that car.” – [Colin] So did you just leave Carmel, drive home, get to your computer and fill out the application? – Yeah, exactly. Immediately. Yeah, typed it all in. Exactly.

Thanks again, Hermann, if you’re watching this, ’cause I got my car and I’m really happy with it. – [Colin] Yeah, well you’re the right kind of guy. Obviously you’re a GT, a true GT enthusiast. So, you know, you got the ’05 and now a 2020. – [Bill] Yeah. – [Colin] So,

I mean they’re incredible cars. And I know you drive your cars, you have a lot of miles on your other one. Are you gonna pound some miles on this? – I’ve already got a thousand on it. – [Colin] Okay. – I probably won’t put as many miles on this one

As that one, but yeah, I’m gonna drive it. – [Colin] So it’s a carbon addition. – [Bill] Yes. – [Colin] And, I’m not trying to embarrass you, but MSRP around 615 the way it sits. – 615? Something like that, yeah. – Okay. – I don’t remember exactly but

After the 600,000 it didn’t make any difference. – [Colin] Right. Right, exactly. Well, you know the deal, you were here before, you had your other car here. I hope you trust me to look at this one as well. – [Bill] Yeah, yeah. – So we can go, we’ll put you back in that same dog kennel in there. – Okay.

– [Colin] And and throw some milk bones at you and come and get you in a little bit. Is that okay? – I’ll go back in the kitchen, yeah. And I can eat. Thank you. Thanks, Colin. – Thank you very much. We’ll see you in a little bit. – [Bill] All right. – [Colin] So I finished my inspection and appraisal of Bill’s 2020 Ford GT. Now, let’s face facts here. This is essentially a brand new car. It has 1100 miles on it. Bill’s obviously an enthusiast, he’s cared for it. He babies the car. There’s not a mark on it.

So, what we should talk about here is what the car is and what the carbon edition is, for those that aren’t familiar. The carbon edition was the evolution of what they called the lightweight car in 2017 and 2018. So what that was, was a lightweight car with air conditioning added

And they called it the carbon. That came out in 2019. So the carbon edition cars are easy to spot because of the exposed carbon stripe down the middle of the car. This was not available unless you got the carbon package. It also has a lightweight rear engine cover

That was lifted from the competition cars. The car has carbon fiber wheels, titanium lug nuts and a titanium exhaust. These are all options available independently of the carbon package, but the carbon pack in itself was around $70,000, if you checked that box on the order form. Additionally, on Bill’s car,

He has the exterior accent package, which has the blue center stripe and the blue mirrors. These were also things you could pick the colors on, and as I recall the accent package was like $15,000. So as you can see, Ford was not giving away stuff. This is a new escape.

They weren’t saying that if you want navigation? It’s $25. You want painted mirrors and a stripe? It’s 15 grand. Now the other things that you could select were the exterior carbon that’s exposed, the pillars, the side skirts, all that stuff, you could get it in matte or gloss and all that various options.

He got the gloss. One other thing that Ford told you to do when you took delivery of this car, you had to wait a little bit to let the paint cure and then have the entire car wrapped with paint protection film. Otherwise they wouldn’t stand behind any paint issues

Because these tires are so sticky, and this car creates so much downforce, it sucks all the rocks off the road like a vacuum cleaner and throws ’em at the paint. So it’s a really good idea that Ford told everybody, before you start driving this thing, get it wrapped.

Obviously, Bill has had his car wrapped. You can feel the whole car’s done with paint protection film. I assume he paid somewhere around 10 to $15,000 to have that done as well. So moving around to the back, you can see the tips for the titanium exhaust.

Another neat feature of these new modern GT’s is the turbo wastegates exhaust through the taillights. There’s a lot of cool little touches on these cars, but under the hood… So this is the lightweight engine cover that you get on the carbon and lightweight cars. And this is the spacious trunk compartment

That you get on a new Ford GT. Because basically, if you can buy one of these cars wherever you go, you just buy new clothes. So you just grab your toothbrush, you put it in here, you drive somewhere and you go to Walmart and get some new clothes.

And up here is the 3.5 liter EcoBoost engine. Essentially, the same engine they used when they took these cars to La Mans. A very well-developed thing. Now, a lot of people were upset that Ford didn’t put a V8 in the new Ford GT, but for packaging issues,

This little 3.5 liter with the two turbochargers on it, it’s an incredibly capable little engine. And it’s so small and compact, you could shove it in there, and you could have these wonderful flying buttresses and get the aero out of the car, because lighter weight and better aero, always makes a car faster.

So now, I will fold myself inside of this car and show you some neat stuff in here. Now, the technique to get in one of these things, especially if you’re an incredibly large mammal, such as myself, you kind of sit down first and you swing your legs in.

I know a lot of you know this, but one thing that is also unique to these modern GT’s is that the seat is fixed. The driver’s seat and the passenger seat, they do not move. What does move, is the pedal box. So there’s a little strap over here that you pull,

And if you look down by my feet, I can pull this strap and you just move the pedals back and forth. Then you push ’em in where you want ’em, you let the strap go and it locks in. Same with the steering column,

Tilts and telescopes, so you can put it where you want it. And the seat never moves. And the reason they did that was because they wanted the driver’s weight exactly in the same place every time, for balance of the vehicle when you’re driving it. Kind of a cool idea. As with most spaceships,

This has all the controls right up here in front of the captain. So, we’ve got your radio controls, and drive modes, windshield wipers. Turn signals right here are buttons, there’s no stalk. Paddle shifters. In the center console is just a little rotary dial for the dual clutch transmission.

We’re in here and I believe we should start it and I’ll show you some stuff. So it fires up. There’s shift lights on the steering wheel. Another kind of cool racy thing. The dash is in front of you, and it changes along with the drive modes. It’s a normal drive mode here. And if you watch the cluster and also watch the height of the car,

We’ll do a couple things here. I’m gonna put it into Track Mode. I’m gonna hit “OK”. The car drops down to track ride height, and you see the the dash cluster changes to just what you need. A tachometer and a gear indicator.

You can flip it back to Sport Mode, the car pops up. You can pop it up to Normal Mode. And there’s also a Wet Mode and a VMax Mode. Now the VMax Mode is pretty cool. It’s maximum terminal velocity that cleans up the aero on the car,

Drops it to the maximum lowest ride height and makes the car as slippery as possible to go as fast as possible. It is not Maximum Downforce Mode, so you don’t wanna be road racing in VMax mode. But let’s say you have a long and open road in front of you,

And you want to go 200 plus miles an hour, drop her in VMax, and you’re all set. Lots of cool stuff. But again, I’m not here to just play around with somebody’s 600 and some thousand dollar supercar, I’m here to tell you what it’s worth. And that number is not $600,000, but we’ll get to that in a minute. So, I’ve finished my inspection and appraisal of Bill’s 2020 Ford GT Carbon Edition. I know what the car is worth. We’re gonna get him back in here, and tell him that number, and see what happens. Hey, Bill. Welcome back. – [Bill] Thank you.

– All right, so this was a real tough one to go over. I mean. – Yeah. – A car with 1100 miles on, I found a lot problems. – Lot of problems with it. – Yeah. (Colin chuckles) Obviously, it’s a brand new car. You know, you’ve taken care of it.

You’ve had the whole thing wrapped, like they told you to. – [Bill] Yes. – [Colin] You’re a good boy. – Yes. – [Colin] So… A couple of questions first, before we talk about value. – Okay? – You own 2005 Ford GT that we had on the show as well.

And you have a 2020. You’ve got a little seat time in this, a lot of seat time in that. Which one do you like more? If you had to pick one, if somebody came to you… – Had to pick one? – Said, “Today’s the day, Bill. Pick one.”

– The other one’s just raw as hell and this one is just sophisticated as hell. – [Colin] Yeah. – Having said that though, I like the 2005 better. I love this car, don’t get me wrong, it’s fantastic. It’s a supernova, Star Wars and all that.

And it does everything that you want and more. It runs rings around the 2005, but the American muscle car, in your face type look of the sixties and just the grunt, and no nannies six speed V8. And I just love that. Don’t get me wrong, I love this car. – Yeah.

– But if I had to choose of the two, I choose the 2005. And I talked about it. – And it’s funny, ’cause I have other friends that also have the same first world problems, shall we say? – Yeah. – You know? ’05, ’06 car, and a ’17 and up car.

Everything’s pretty much the same. The new car, this thing runs circles on a track. There’s no comparison. – [Bill] Right. – [Colin] Calling this a spaceship is very accurate. – [Bill] Yeah. – [Colin] Because you’re punching a hole through time. – [Bill] Yeah. – [Colin] I mean they just do everything so well.

– [Bill] Yeah. – [Colin] But of course, we’re not here to talk about time travel. We’re here to talk about what this car is worth. So, I’m sure you have a pretty good idea, but what do you think? – Well, it’s… – You know what you paid. – Yeah. Yeah.

I’m gonna estimate it’s about 1.1. – [Colin] Yeah. For those that don’t know, when you buy one of these, you sign a contract. – Yes. – You have to keep it for two years. Ford keeps your title. – Right. – So are you out of the window yet? – Yes.

– [Colin] Okay, so you have your title. So you’re a free man. – Yes. – [Colin] You can do whatever you want. – Yeah. – So 2020 is the newest one you can get now. I mean that’s- they’re just starting to come out of the two year contract,

So they’re worth more than the earlier ones. But honestly, your number is spot on. That was my number. – Really? – [Colin] It’s million and one – Okay. – [Colin] And to the right person, if somebody loves the color, it’s million and two. And if somebody’s having a really bad day,

It’s no less than a million. So… – Yeah, I bet… – [Colin] That’s the number right there, and you nailed it. And obviously, you know your stuff. So the question is, you have your title, it’s worth a lot more than you paid. Are you gonna sell it? – Hell, no. I look at it as, I gave Ford a bunch of paper, and I get to go have fun. – [Colin] Right. Right, exactly. – [Bill] Yeah. – [Colin] You can’t get as much fun anywhere else. So… – Yeah. So… – Good for you. Keep driving it. Put some more miles on. Call me in a year, let me know what the odometer says. – Okay.

– [Colin] I’ll be checking in on you. – All right, sounds good. – [Colin] Thank you so much for bringing it. Really appreciate it. – Thank you for having me. – Yeah, good to see you again. – [Bill] Same here. Having cash, to me is, you know, you want something for your retirement and all that stuff, but if you can afford it, you know, why not go out and have fun? And that’s what I’m doing.