Exclusive: Tesla Drops Bombshell 'No Resale' Policy for Cybertruck Buyers!

Exclusive: Tesla Drops Bombshell 'No Resale' Policy for Cybertruck Buyers!

It seems that buyers of the Tesla Cybertruck will be bound by a "no resale" policy within a specific timeframe, similar to what has been observed in recent buyer agreements for the company's other vehicle models.

As outlined in Tesla's terms and conditions for recent purchases of Model 3 and Model Y, the automaker specifies that Cybertruck buyers must refrain from selling the vehicle for up to a year after its delivery date. This provision has been identified by multiple parties in the terms and conditions for other vehicle purchases, specifically listed under a section titled "For Cybertruck Only."

Should Cybertruck owners intend to sell their vehicles within the initial year post-delivery, they must formally notify Tesla in writing to request an exception from the no-resale policy. In such cases, Tesla may offer to buy the vehicle back at its discretion and at a price listed on the Final Price Sheet, deducting $0.25/mile driven, accounting for reasonable wear and tear, and factoring in the cost of repairs to meet Tesla’s Used Vehicle Cosmetic and Mechanical Standards.

If Tesla declines to purchase the vehicle, owners may proceed with reselling it to a third party only after obtaining written consent from Tesla. Failure to comply with this provision could lead to Tesla seeking injunctive relief to prevent title transfer or demanding liquidated damages of $50,000 or the sale value, whichever is greater. Additionally, Tesla reserves the right to refuse the sale of any future vehicles to the individual in violation.

The news surfaced on Reddit and Facebook, with Tesla observer Greggertruck highlighting the agreement's legitimacy through a link to the Model 3 purchase agreement on the Cybertruck Owners Club.

Earlier this week, Tesla's Head of Investor Relations, Martin Viecha, announced the completion of the raffle for Cybertruck delivery event invites. The company opted for a random drawing to ensure fairness, and invites for the event, scheduled for November 30 at Tesla's Gigafactory Texas, are expected to be sent out "soon(ish)."

While leaked specs for the Cybertruck have circulated, their validity remains unclear. Tesla has yet to officially disclose the Cybertruck's pricing details.

 

--------This article is partly excerpted from Kelley Blue Book.

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