Early buyers of Tesla’s new Cybertruck could be forced to hand over $50,000 to the automaker if they try to sell the electric pickup within the first year of purchase.
The long-awaited Cybertruck will be delivered to the first customers at a special event at the end of this month, though the vehicle isn’t expected to enter mass production until 2025.
Aware that some buyers may want to cash in on the Cybertruck’s rarity, Tesla says resellers of the vehicle will need a valid reason and written permission from the automaker — or face getting sued.
A “Cybertruck only” section added recently to Tesla’s Motor Vehicle Order Agreement says: “You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.”
It says that if it’s sold without the automaker’s permission, “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.”
It adds that if the customer breaks the terms of the agreement, it “may also refuse to sell you any future vehicles.”
If Tesla agrees that the customer has a valid reason to sell their new Cybertruck within 12 months of buying it, the automaker could buy it back at the original purchase price “less $0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla’s Used Vehicle Cosmetic and Mechanical Standards.”
Additionally, should Tesla permit the resale but decline to buy it back, the customer can sell it to a third-party, but only after receiving written consent from Tesla.
While most Cybertruck buyers will happily hold on to their shiny new pickup, some may be considering making a fast buck by selling it on at a vastly inflated price. Until now, that is.
Tesla unveiled its unusual-looking pickup in 2019 and has reportedly received more than a million pre-orders, with each customer dropping a $100 deposit.
While the automaker originally said the Cybertruck would start at $39,900, in 2021 it removed pricing from its website, suggesting that it will cost significantly more when it becomes available.
More details should be revealed at the Cybertruck’s launch event on November 30.
Editors’ Recommendations
Services Marketplace – Listings, Bookings & Reviews