Early purchasers of Tesla’s new Cybertruck might have to fork over $50,000 if they try to resell the electric pickup within the first year of owning it. The eagerly anticipated Cybertruck will be delivered to its initial customers at a special event later this month, although mass production isn’t expected to begin until 2025.
Tesla, aware that some buyers might want to capitalize on the Cybertruck’s scarcity, states that reselling the vehicle requires a valid reason and written permission from the company, or they could face legal action. A specific section added to Tesla’s Motor Vehicle Order Agreement for the Cybertruck states: “You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.”
This section further clarifies that if the vehicle is sold without the company’s consent, “Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.”
Breaking these terms could also lead Tesla to refuse any future vehicle sales to that customer. If Tesla acknowledges a valid reason for the resale within 12 months of purchase, the company might buy it back at the original purchase price minus $0.25 per mile driven, reasonable wear and tear, and repair costs to meet Tesla’s Used Vehicle Cosmetic and Mechanical Standards.
Moreover, if Tesla allows the resale but opts not to buy it back, the customer can sell the vehicle to a third party, but only with Tesla’s written consent. While most Cybertruck buyers will likely hold onto their new pickup, some might be tempted to sell it at a significantly higher price for a quick profit, or at least until now.
Tesla first introduced its unique-looking pickup in 2019 and has reportedly gathered over a million pre-orders, each secured with a $100 deposit. Although the company initially announced a starting price of $39,900, it removed pricing details from its website in 2021, indicating that the final cost will likely be much higher when the vehicle becomes available.
More information is expected at the Cybertruck’s launch event on November 30.