Home » Tesla Cybertruck Resale Values Are Falling Fast

Tesla Cybertruck Resale Values Are Falling Fast

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There was plenty of pent-up demand when the Tesla Cybertruck finally hit the market late last year. It was hot property on launch by virtue of its unique and outlandish design, Despite Tesla’s legal threats to restrict resales, Cybertrucks were soon getting flipped for immense prices. However, now that the hype has cooled down, Cybertruck prices are crashing back to Earth.

As a starting point, consider the prices Tesla is actually charging for the Cybertruck. Foundation Series models start at $102,235, but you need a reservation and an invite to get one. The triple-motor Cyberbeast version adds another $20,000 on top of that.

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For those that aren’t on the reservation list, the only way to get a Cybertruck quickly is to look at the resale market. As reported by Automotive News, February saw one Flordia dealership buy a Cybertruck for $244,000 at auction. The truck was then relisted at $289,999 just days later. If you’re selling your Cybertruck today, though, you couldn’t hope to get anything like those figures.

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Cars and Bids is hosting another Cybertruck auction after an earlier attempt failed to see the truck reach the seller’s reserve price.

At the start of March, auctions were closing around the $190,000 mark. They’ve only cratered further since then. Bring a Trailer sold a Cybertruck for $160,000 at the end of last month. Cars and Bids has a dual-motor Cybertruck currently sitting at $130,000 with 18 hours remaining on the auction. That comes after the site hosted an auction ending on March 22 that failed to reach reserve. The highest bid was just $158,000.

If you’ve bought a Cybertruck from Tesla and you’re bored of it already, there is still hope. You can likely still sell it make a profit on what you paid. You won’t get crazy money, but it’s still a win if you come out ahead. If you bought from a reseller, though, you’re probably a long way in the red.

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As a guide, CarGurus currently has a number of dual-motor Cybertrucks up for sale for just $149,000. You could list your Cybertruck for $130,000, get a really quick sale, and net a good $20,000 profit or so in just a few days.

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If you want one, they’re out there. via CarGurus

However, it’s important to remember that reselling can attract the wrath of Tesla, which has threatened to levy huge fines against resellers. Whether the automaker can do this is up for debate, but Tesla has already allegedly banned some resellers from placing orders in future.

One important exception, too, is this example for sale at Sotheby’s. It’s currently sitting at $242,000 with one day left to go. However, this auction is an outlier for one main reason. Unlike most Cybertrucks up for resale, this is a top-tier triple-motor Cyberbeast model. It’s a top-of-the-line Cybertruck and it’s comparatively much rarer than the dual-motor model right now.

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You’d think the seller might have considered a dose of BKF to even out the color of the panels prior to listing the truck online. via Sotheby’s

Ultimately, the crash in Cybertruck prices is no surprise. Tesla will build tens of thousands this year. As supply increases to meet demand, prices will naturally stabilize. We saw exactly the same thing occur with the GMC Hummer EV just a little while ago. Tesla’s goal was always for the Cybertruck to be a volume seller, so it won’t be expensive forever.

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As the Cybertruck fad dies down and the YouTube takes have all been filmed, expect a used Cybertruck to become cheaper than a new one. Just like how it works with every other car on the market.

Image credits: Sotheby’s, CarGurus, Cars and Bids

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TheFanciestCat
TheFanciestCat
2 months ago

Those back corners still look like they’re coming for our eyes.

Boxing Pistons
Boxing Pistons
2 months ago

File this phenomenon under “duh”. You had to be super early to the party to profit off of one of these. What really gets me is that these are EARLY production number examples of a first model year from a maker that is known for throwing garbage build quality stuff out there while they perfect their processes. This was an extremely poor buying decision unless you were looking to make a quick buck.

EricTheViking
EricTheViking
2 months ago

“There’s a sucker born every minute”
—P. T. Barnum

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