Plan to Sell Your Cybertruck? Tesla Will Fine You $50,000. You'll need Tesla's consent before flipping the rig.

By Entrepreneur Staff

Nic Coury/Bloomberg | Getty Images
The Tesla Cybertruck during a tour of the Elkhorn Battery Energy Storage System in Moss Landing, California, U.S., on Monday, June 6, 2022.

Tesla's highly-anticipated Cybertruck is scheduled to begin deliveries on November 30. And while some important information is still non-existent (such as the price, for example), the electric vehicle company isn't wasting any time hammering out the fine print.

The Motor Vehicle Owner Agreement Terms & Conditions now reads: "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."

Owners can sell the truck back to Tesla within the first year "for any unforeseen reason" for the purchase price "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."

RELATED: 'I Make Trucks for Real People': Ford CEO Slams Tesla's Cybertruck

Tesla can decline to purchase the vehicle, and if you still want to sell, you can try a third party, but only after receiving "written consent."

Try to break the agreement, and Tesla will fine you $50,000 and possibly refuse to sell you any future vehicles.

Tesla had said it would sell the Cybertruck for $39,000, but electric trucks are averaging closer to $100,000 now, per Kelly Blue Book expects it to be around $50,000.

Tesla co-founder and CEO Elon Musk stands in front of the all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, California on November 21, 2019. Photo by FREDERIC J. BROWN/AFP via Getty Images

Still, demand has far outweighed supply.

Last week, Tesla CEO Elon Musk said in a Q3 earnings call that one million Cybertrucks had been reserved, per The Verge, but only a handful of people will have one in their garages in 2023. The company is expected to deliver "tens of thousands" in 2024.

"I know that people are excited about Cybertruck. I am, too. I've driven the car, it's an amazing product," Musk said during Tesla's third-quarter call last month. "I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck."

RELATED: 'I Am Worried': Elon Musk Signals Alarm During Tesla Earnings Call

Entrepreneur Staff

Entrepreneur Staff


Editor's Pick

Related Topics

Business News

Bank Accidentally Deposits $86 Million Into Woman's Account, Freezes Her Assets

The incident occurred at the Malaysian bank, Maybank.

Starting a Business

This College Student Was Tired of Working In Bars Until 4 am. So He Started a Car Detailing Side Hustle — Earning $7,000 a Month

Jack TerHaar, a University of Georgia senior, is polishing profits with Detail Dawgs, a mobile detailing service in Athens.


Why Every Entrepreneur Should Consider Starting a Podcast

This article sheds light on the power of podcasts, particularly for entrepreneurs, outlining steps to launch a successful podcast.

Science & Technology

3 Reasons Why Web3 Will Flip Digital Ownership On Its Head

Here are the three things that Web3 could completely change about digital ownership.

Business News

She Lost Her Job as a Disinformation Scholar at Harvard — and Claims Facebook May Have Had Something to Do With It

Dr. Joan Donovan alleges Harvard stopped her research after receiving donations from the Chan Zuckerberg Initiative. Harvard denies the claim.