Tesla will sue you for $50,000 if you try to resell your Cybertruck in the first year

Tesla will sue you for $50,000 if you try to resell your Cybertruck in the first year
  • Tesla has released the sale terms for its long-awaited Cybertruck ahead of its November 30 release.

  • Owners of the EV pickup truck are banned from reselling their vehicles during the first year.

  • Elon Musk hopes to produce a quarter of a million annually by 2025.

Customers set to receive the first Tesla Cybertrucks this November can't resell their vehicles during the first year, according to Tesla's terms and conditions.

Tesla added a section titled "For Cybertruck Only" to its Motor Vehicle Order Agreement, which laid out the new rules.

"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.


"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. Tesla may also refuse to sell you any future vehicles," it says.

But if a customer has a good reason to sell their Cybertruck, Tesla may agree to buy it back at the original price minus "$0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla's Used Vehicle Cosmetic and Mechanical Standards."

If Tesla does not want to purchase the vehicle, the company may then agree to let the customer sell it to someone else.

Given the subscription model of much of the software Tesla EVs use, resale can be complicated. The Full Self-Driving feature, which costs up to $199 per month, is not transferable to a new owner, Fast Company reported.

First announced in 2019, the Cybertruck is Tesla's first new product in years, and it is expected to shake up the electric pickup-truck market. Tesla originally said the price of the truck would start at $39,900, but it's likely to be much more expensive due to pricey building materials.

Elon Musk said in an earnings call earlier this year that it would take a year to 18 months before the EV truck can become a significant cash-flow contributor, adding that he hoped production of the Cybertruck would reach a quarter of a million annually by 2025.

Read the original article on Business Insider