Should I Sell My Tesla Cybertruck & Lose $30,000 in 6 Months or Just Let It Get Repo’d & Ruin My Credit Score?

Sledder is a Cybertruck owner from Ventura County, California, and says he has found himself in a financial dilemma after his truck massively depreciated in the six months since he bought it.

The Cybertruck owner is trying to decide between selling his truck and losing tens of thousands of dollars or having the bank repossess it and getting out of the loan early.

Sledder doesn’t want to lose a lot of money on his Cybertruck purchase, but he’s worried that it will negatively affect his credit score if he stops making his loan payments.

Sledder says he financed most of the Cybertruck’s cost through a credit union and still owes $93,000 on the all-electric truck.

He’s willing to sell his Foundation Series Cybertruck AWD for $89,000 and take a $4,000 hit; however, he doesn’t want to sell it for $70,000 to $80,000 and pay his credit union $13,000 to $23,000 out of pocket.

The conflicted Cybertruck owner went on the Tesla Cybertruck group on Facebook and shared his predicament.

Here is what he wrote…

“Should I sell my Cybertruck for $80k and lose $30k in 6 months or just let it get repo’d? How long will my credit be ruined?”

Below his post, Sledder included a picture of his matte black Foundation Series Cybertruck that he has posted for sale on Facebook Marketplace.

Sledder adds that the Cybertruck resell market is bad enough; however, all the free benefits Tesla is offering new Cybertruck buyers are hurting his chances of selling his truck for a good price.

The California resident says that a couple of weeks ago, someone offered to buy his truck for $91,500; however, the deal fell through after Tesla started offering new Foundation Series Cybertruck buyers free lifetime supercharger access.

He writes…

“I was offered $91,500 two weeks ago, then he bought a new one when they offered free supercharging. I wish they would not have done that. It really hurts Foundation Series Cybertruck owners.”

Sledder is not alone in this complaint. Several early Cybertruck owners are looking to start a petition, hoping to pressure Tesla to offer them the same free lifetime supercharging access as new buyers.

Unfortunately for Sledder, starting yesterday, Tesla is moving in the opposite direction and has started discounting brand-new Cybertrucks, which means the longer he holds on to his truck, the less valuable it will become.

Looking at the comments, several people offered Sledder advice on how he could quickly get rid of his Cyertruck. Most people suggested that he should sell it to vehicle Wholesalers.

A fellow group member, Tony Arnold, writes…

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“Try Carmax, an AutoNation dealer, a Sonic dealer, and other places, and take the best of the bids. You can try Carvana and one of the other wholesalers online. I think you can get upper seventy thousand.”

However, Sledder refuses, saying, “I need $89,000. I am sure those places will be in the 70s.”

Sledder seems determined not to lose money on his Cybertruck, which leads us to the other option of letting his bank repossess it.

Naturally, several people strongly advised Sledder against going through this route.

A fellow group member, Fabian Rosadi, writes…

“Repo stays on record for 7 years. You can get another car in the future but at a stupendous interest rate. Sell your Cybertruck and pay off the difference if you want to keep your credit clean.”

Other people similarly pointed out that letting the bank repossess his Cybertruck would negatively affect his credit score and that he’ll likely not be able to get a good vehicle in the future.

Stuck between a rock and a hard place, other forum members suggested that maybe he should rent his Cybertruck on Turo to help him with his monthly payments.

However, Sledder says that’s not a good idea, writing, "To make $100 a day after Turo takes its cut and hope the people don't damage it? No thanks.”

Sledder might be correct in this regard. We have all seen the Cybertruck that was loaded with fireworks and gasoline and exploded in front of the Trump Hotel.

This made headlines and is clearly a very rare occasion; however, other Cybertruck owners have shared their struggles after renting their trucks on Turo.

Yesterday, we reported about a Cybertruck rented from Turo that ran over a deer going 75 miles an hour on the freeway. However, the people renting the Cybertruck drove it an additional 60 miles using FSD rather than getting it towed.

Other Turo renters have similarly shown that their Cybertrucks have sustained tens of thousands of dollars of damage after being rented to strangers.

Overall, it seems that Sledder doesn’t want to hold on to his Cybertruck and, at the same time, is not willing to sell it below $89,000.

Given these requirements, I don’t know what option he has. However, please let me know if you have any suggestions. Share your ideas by clicking the “Add new comment” button below. Also, visit our site, torquenews.com/Tesla, regularly for the latest updates.

Image: Screenshot from DragTimes YouTube channel

For more information, check out: A Tesla Cybertruck Slices in Half a Deer While Driving 75 Mph on the Freeway. Despite The Heavy Damage, The Turo Rental Cybertruck Continues for 60 More Miles on FSD

Tinsae Aregay has been following Tesla and the evolution of the EV space daily for several years. He covers everything about Tesla, from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.