The First Tesla Cybertruck Owners Aren’t Allowed To Sell Their Pickups For One Year
Cybertruck? More like CyberSTUCK.
Tesla’s latest order agreement has surfaced online with an interesting clause for would-be Cybertruck buyers.
The document includes a legally-binding pledge not to try to resell the vehicle without authorization during the first year of ownership.
Tesla says it will sue buyers who do for $50,000 or the amount the vehicle was sold for, whichever is greater, and may prevent them from buying Teslas in the future.
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Tesla sells all of its vehicles directly to customers in the U.S., rather than through francised dealers.
Tesla in the agreement claims the right of first refusal to buy back the vehicle during the period for the original price, minus 25 cents for every mile it has been driven and any required repair costs. If it passes, the owner is then allowed to sell it as they wish.
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Some high end exotic car brands, and even Ford when it launched the 2017 GT, often put similar restrictions on purchases in an attempt to prevent flippers from scooping up the cars.
Ford even sued actor John Cena, who sold his GT within the two-year period Ford required, and the parties ended up settling the suit for a payment from Cena that went to charity.
In Tesla’s case, it could also be a way to keep any quality issues on early builds in check, but it hasn’t officially explained the reasoning behind the policy’s inclusion.
The unveiling and first deliveries of the production Cybertruck are scheduled for November 30th. The final price for the first-available models has not been announced publicly.
One Cybertruck already been pre-sold for $400,000, however, at a charity auction held by The Petersen Automotive Museum.
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The relevant paragraph from the agreement reads in full:
“You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date. Notwithstanding the foregoing, if you must sell the Vehicle within the first year following its delivery date for any unforeseen reason, and Tesla agrees that your reason warrants an exception to its no reseller policy, you agree to notify Tesla in writing and give Tesla reasonable time to purchase the Vehicle from you at its sole discretion and at the purchase price listed on your Final Price Sheet 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. If Tesla declines to purchase your Vehicle, you may then resell your Vehicle to a third party only after receiving written consent from Tesla. You agree that in the event you breach this provision, or Tesla has reasonable belief that you are about to breach this provision, 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.”
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