In a surprising twist, Tesla has hit the brakes on a controversial clause in the Cybertruck’s purchase agreement that left owners facing a hefty $50,000 penalty if they dared to sell their prized electric pickup within the initial 12 months. The clause was quietly deleted last week, giving Cybertruck enthusiasts the green light to turn a quick profit on their new wheels.
This move by Tesla aligns with an industry trend of curbing speculative resales, a tactic previously employed by luxury car manufacturers like Ferrari and Porsche. The Cybertruck, with over a million reservations and deliveries starting later this month, is poised to test the waters of demand in an electric pickup market that’s seen its fair share of hype. Tesla insiders have long been revealing details about Cybtertruck, although leaks have been silenced in recent months.
With Elon Musk signaling a slow production ramp-up, the anticipation for the Cybertruck’s arrival is electrifying. The revision in Tesla’s policy now allows owners to potentially capitalize on the high demand by selling shortly after taking delivery. As the first Cybertrucks hit the road, it remains to be seen whether opportunistic sellers will seize the chance to cash in on the electric pickup craze. With this model being a niche of its own, there’s no guessing its future.
In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Road and Track, Electrek, Car and Driver, and MotorTrend.
Not So Scary Anymore: Tesla Walks Back On The Cybertruck Flipping Clause
- Tesla will no longer punish Cybertruck buyers for “flipping” their vehicles.
Recently, Tesla took back its anti-flip rhetoric from the pre-order/purchasing agreement terms for the upcoming Cybertruck EV. With the original document claiming those who tried to flip their pre-order or sell their truck within 12 months of getting it would face a fine of $50,000, Tesla now seems to have walked back on that promise/threat.
One reason this happened is likely due to the fact Tesla can’t use its resources to monitor customer behavior (no company should do this), on top of fulfilling the million-plus deliveries slated to happen once this EV truck releases.
With many critics comparing and even preferring Cybertruck to the F-150 Lightning, we could be entering a battle of the EV pickups.
There’s Not Much Legality To Tesla’s Original Anti-Flip Clause
With this recent withdrawal, Tesla has backed off its lawsuit/court-heavy flip clause, which received much backlash from customers and those with Cybertruck pre-orders. One of the main reasons people took issue with this bogus claim from Tesla is that, as part of the rule, Cybertruck owners were prohibited from selling or transferring the title of their EV to another buyer within the first 12 months of ownership.
Typically, when someone buys a new car, it’s there to do whatever they want with it. Tesla essentially promising to become Big Brother to all Cybertruck owners didn’t sit well, and for good reason. There have been issues of people with pre-orders effectively selling or “flipping” those reserved Cybertrucks on eBay and other marketplace sites, which, in that case, punishment makes sense.
However, once someone OWNS a Cybertruck, they should (and now can) do whatever they want with it. Keep it, sell it; it’s not Tesla’s business.
Getting Sued For Selling A Cybertruck Too Early Is Poor Marketing
- The original Cybertruck agreement mentioned a $50,000 fine for reselling your Cybertruck “too early.”
With this clause out of the way, it’s worth noting in the original documents customers signed upon giving their $100 deposit for a Cybertruck delivery, Tesla promised to pursue legal action, asking for a $50,000 fine from flippers. Considering a Cybertruck (base model) will retail for a smidge under $40,000 as per the pricing at the time of the launch. (although we expect its final MSRP to be much greater), you’d end up paying the same amount for allegedly flipping your new truck.
That in itself is where most of the damage from a PR standpoint came regarding the rule. Although nobody wants to pay aftermarket prices for a Cybertruck, reselling one after a few months should not lead to a massive fine. This quiet deletion on Tesla’s part took that into consideration, and for the sake of a smooth release, we’re glad Tesla did this.
These Cybertruck alternatives might be worth looking into if you’re irked by these recent clause updates.
With A $100 Deposit For Cybertruck, What Did Tesla Expect?
It’s worth noting that a huge issue with the Cybertruck reselling market has been the reservation fee (or lack thereof) customers had to pay to secure a new EV pickup. Tesla only set the Cybertruck reservation fee to $100, which is entirely refundable.
With this fee, people bought a reservation knowing they wouldn’t keep or even see the Tesla, listed the confirmed vehicle pre-order on a site like eBay, and then inflated the price tenfold. As per the last update, Tesla has over 2 million reservations. That is why this clause likely became a thing, although reselling a physical vehicle within 12 months should be fair game. We’re sure Tesla knows it messed up and will charge a higher RSVP price in the future.
Tesla is also rumored to not even deliver Cybertruck at the initial $40,000 price point, so those customers with a confirmed pre-order could be in for a surprise.
Delays, Delays, And Oh Wait: More Cybertruck Delays
- Tesla plans to ramp up Cybertruck production to 250,000 per year starting in 2025.
On top of secret clauses being added, removed, and modified, Cybertruck is facing incredible production delays. With over a million pre-orders, Tesla “hopes” to ramp up production enough to make 250,000 Cybertrucks annually by 2025, which would still mean years of waiting for some anxious owners. Considering that the manufacturing process for Cybertruck has reportedly been a nightmare, the auto giant is likely still in the slow stages of producing these pre-orders.
Of course, that’s not to say Tesla *can’t* do this and make it right, although at this point, don’t expect a Cybertruck to appear at your doorstep until 2025, 2026, or even later, if you do the math.
Deliveries *Should* Start As Early As December 2023
Now that the Cybertruck is expected to come to dealers in very small batches ending in 2023 and entering 2024, it’s even more important drivers understand what they agree to upon signing and purchasing a Tesla Cybertruck.
With the first production versions of Cybertruck coming to Austin, Texas’s Gigafactory, there’s no better time to read your contract. This clause being removed could only be temporary, so make sure to keep a close eye on what you sign before driving off.
The Tesla Cybertruck Release Continues To Cause Controversy
- Since 2019, Tesla Cybertruck has sparked outrage and interest online.
Since the news of Cybertruck broke in 2019, the world has never forgotten this uber-modern EV pickup. For good and not so good reasons, the Tesla Cybertruck will make noise upon its large-scale release in 2024/2025, although it’s best Tesla keeps things smooth sailing as we enter this final chapter of pre-production and clause adjusting.
After all, when you buy a car, it shouldn’t feel like signing your life away. Luckily, the company removed its aggressive language and legal structure from the Cybertruck order agreement, but it’s worth keeping a close watch on said document. The original release should have been in 2021/2022, and we’re now almost to 2024, with the first batch of these being finished. SpaceX has started to use Cybertrucks, and from what we know, it’s been going well.
Controversy or not, the Cybertruck unleashes a new age of electric manufacturing, and as long as we’re not being scared into signing a contract, this release should go fairly well. Even now, we’re seeing brands like Honda take inspiration from the futuristic Cybertruck (or so it seems), so expect more lookalikes in the coming years.