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Company cars are often humble vehicles, but apparently nothing short of a new Jaguar would do for Tucson-based First Magnus Financial Corp.

Ford Motor Credit Co. LLC, the financing arm of Ford Motor Co., has asked the judge in First Magnus' bankruptcy case for permission to take possession of a 2007 Jaguar XK the company leased to First Magnus.

The car was leased starting May 10, 2006, at a monthly rate of $1,841, according to court documents filed Oct. 19. The full purchase price of the car was $92,869, according to a lease agreement filed with the court.

Documents filed on behalf of Ford Motor Credit and titling company Cab West LLC say First Magnus owes $3,749 for missed lease payments and a total of $76,748.96 on the value of the car.

John Almada, a salesman for Royal Automotive Group, described the model leased by First Magnus as "very, very loaded."

He said the car is a "liquid silver"-colored convertible with a high-end sound system, rain-sensing wipers, heated seats and steering wheel and a navigation system.

The base price for that type of convertible is about $85,000, Almada said.

The dealership is not involved in Ford's efforts to recover the vehicle.

A spokesman for First Magnus did not return a call for comment about who drove the car at First Magnus and what it might have been used for.

The lease agreement appears to have been signed by First Magnus Chief Operating Officer Karl Young.

Tucson-based First Magnus halted its lending operations and laid off nearly all of its roughly 5,500 employees nationwide on Aug. 16. The company filed for bankruptcy Aug. 21 and is in the process of liquidating itself.

The company failed to issue final paychecks to former workers before the layoffs, leaving the matter to be sorted out through bankruptcy proceedings, which can take many months.

Former employees have said First Magnus outfitted offices with state-of-the-art equipment and luxury goods, including plasma-screen televisions, an eye scanner allowing entry into an executive conference room and air-conditioned parking for executives.

The company also had ownership interest in two airplanes, but transferred interest in the planes to holding company First Magnus Capital Inc. in 2006, according to financial documents filed with the Bankruptcy Court.