Prices of used Cybertrucks are falling and quickly, but they still fetch more than their original MSRP
June 11, 2024 at 10:09
- Several used Tesla Cybertrucks have sold for over $200,000 at auction since the start of the year.
- A look across AutoTrader indicates prices of the electric pickup have dropped significantly.
- Early Tesla Cybertruck Foundation Series models have an MSRP of $102,235.
Tesla requires anyone purchasing a new Cybertruck to sign a Motor Vehicle Order Agreement preventing them from reselling the electric truck within a year. If buyers renege on this agreement, they can be sued for $50,000 or any profit generated from the sale exceeding $50,000. However, it appears the threat of legal action hasn’t dissuaded Cybertruck owners from attempting to flip the EV.
Going through Autotrader reveals that 223 Cybertrucks are looking for new homes across the United States, and 180 of them have been listed for sale on Cars.com. While many Cybertrucks are listed across multiple platforms, it’s clear that the market for used ones is growing and will only continue to do so.
Read: Cybertruck Remorse – Buyer Stuck After Tesla Blocks Resale And Buyback
178 of the Cybertrucks currently available through AutoTrader are being sold by dealerships, while private sellers have listed the remaining 45. What’s particularly eye-opening are the asking prices.
Most appear to be Foundation Series models and yet, there are more than 100 examples available for $130,000 and less, most of which have less than 1,000 miles on the clock. That’s interesting because as recently as April, some Cybertruck Foundation Series models were selling for over $200,000. On Bring a Trailer, one fetched $262,500 just two months ago. That model had 50 miles (80 km) on the odometer.
Browsing through AutoTrader, we found one Cybertruck Foundation Series driven 78 miles available for $119,888 from Distinctive CarToyz in Egg Harbor Township, New Jersey. Admittedly, this is a dual-motor model, not the tri-motor CyberBeast. Shoppers who want the CyberBeast Foundation Series have plenty of options too, with dozens of low-mileage examples available for between $149,000 and $169,000.
The dual-motor Cybertruck Foundation Series commanded an MSRP of $102,235 when new, while the CyberBeast Foundation Series costs $119,990. Used examples are still fetching more than these MSRPs, but prices in the used market have plummeted over the past couple of months.
The most obvious explanation for this is that more and more Cybertrucks are being built and hitting the roads, meaning it’s not as rare and as hard to come by as it was at the start of the year. It’s also likely that those who were willing to splurge more than double the truck’s MSRP have already bought their Cybertrucks and exited the market.
If Tesla does decide to aggressively enforce its Motor Vehicle Order Agreement, dealerships flipping Cybertrucks may be able to more easily absorb any fines than private sellers. If you’re a private seller parting ways with a Cybertruck for less than $120,000, a $50,000 fine could hit hard.
