The company encountered severe financial troubles during the transition, coupled with body styling that wasn't comparable to other luxury makers, and after having produced only 150 cars in 1922, was forced into bankruptcy and sold for USD $8,000,000 to the Ford Motor Company on February 4 1922, which went to pay off some of the creditors. The purchase of Lincoln was a personal triumph for Henry Ford, who had been forced out of his second (after Detroit Automobile Company) company by a group of investors led by Leland. Ford's company, renamed Cadillac in 1902 and purchased by rival General Motors in 1909, was Lincoln's chief competitor. Lincoln quickly became one of America's top selling luxury brands alongside Cadillac and Packard. Ford made no immediate change, either in the chassis or the V-8 L-head engine which was rated 36.4 SAE and produced 90bhp (67kW; 91PS) at 2,800 rpm. An unusual feature of this power unit was the 60 degree separation of the cylinder blocks that helped to cut down on synchronous vibration found with similar engines with 90 degree separation produced at the time. After the Ford takeover, bodywork changes and reduced prices increased sales to 5,512 vehicles from March to December of 1922.
In 1923, several body styles were introduced, that included two- and three-window, four door sedans and a phaeton that accommodated four passengers. They also offered a two passenger roadster and a seven passenger touring sedan and limousine, which was sold for $5,200. A sedan, limo, cabriolet and town car were also offered by coachbuilders Fleetwood, and a second cabriolet was offered by coachbuilder Brunn. Prices for the vehicles built by these coachbuilders went for as much as $7,200, and despite the limited market appeal, Lincoln sales rose about 45 percent to produce 7,875 cars and the company was operating at a profit by the end of 1923.
1924 saw the introduction of large touring sedans used by police departments around the country. They were known as Police Flyers, which were equipped with four wheel brakes, two years before they were introduced on private sale vehicles. These specially equipped vehicles, with bullet proof windshields measuring 7/8 of an inch thick and spot lights mounted on the ends of the windshield, also came with an automatic windshield wiper for the driver and a hand operated wiper for the front passenger. Police whistles were coupled to the exhaust system and gun racks were also fitted to these vehicles.