To prevent customers from fast flipping their Cybertruck, Tesla has added a new clause to the purchase agreement. Buyers of the truck have to abide by the clause that forbids them from reselling the vehicle within the first year without Tesla’s consent. If they violate this, they could be sued by the automaker.
Ahead of the first deliveries of the Cybertruck, which are expected to start later this month, Tesla has made some changes to its Motor Vehicle Order Agreement. So if you are a prospective buyer, you better not plan to sell the truck before a year, otherwise you will face Tesla’s legal action.
What are the consequences? Well, according to the terms, Tesla may either block you from passing the title of the vehicle or ask for “liquidated damages” of $50,000 or the amount you received for selling the vehicle, whichever is more. You may also be prohibited from buying Tesla vehicles in the future.
If you want to be exempt, the EV maker may allow you to sell the truck before one year, but it will require their written permission.
And if you get the consent, you have two possibilities at hand. The first is Tesla buying back your truck at a lower price, subtracting $0.25 for each mile driven, plus any damage and repair costs. The second is the automaker allowing you to sell the vehicle to someone else.
The Cybertruck will be a rare sight on the roads until 2024, when mass production begins. Tesla is only giving it to a handful of select customers for now. The new clause is there to prevent resellers from cashing in on its high demand.