I just spoke with Mr. Davis. They aren't going to destroy the car as some have feared. From what he told me, sounds like you'll get the car back in better condition than it was. They are filming in 3 different locations and rather than transporting the vehicle, they will have matching cars in each location. They already have a pristine Formula as the main car. The other two will be brought up to match, including new red paint job and 5 spoke custom wheels. This is for a remake of Footloose.
I should have pictures soon.