Tesla has officially started accepting Cybertruck trade-ins. Until now, the EV maker has not allowed Cybertruck trade-ins, even from devoted Tesla fans eager to upgrade to a higher trim Cybertruck.
However, as of today, Tesla appears to have updated its internal policy and has started accepting Cybertruck trade-in offers.
Vin, a Cybertruck owner from Princeton, New Jersey, was the first person to report on this change.
Vin is a Tesla enthusiast and the owner of a Foundation Series Cybertruck. Out of curiosity, Vin submitted a trade-in request for his Cybertruck, and to his surprise, Tesla responded with a firm offer to buy his all-electric truck.
Vin revealed that Tesla has offered him $65,400 for his 2024 Foundation Series Cybertruck, which has been driven 6,200 miles.
Brand new, this vehicle cost $100,000 before Tesla’s mandatory $2,500 doc and destination fee.
However, after 6,200 miles, Tesla reports that Vin’s Cybertruck has depreciated by more than $35,000, representing a decline of over 35% within a year.
In other words, the Cybertruck depreciated by over $5.6 for every mile the owners drove the all-electric truck.
This level of depreciation would frustrate most people; however, Vin appears happy with the trade-in value he received from Tesla.
Vin specifically highlights the difference between the trade-in offer he got from Tesla and the one from Carvana.
In the past few weeks, we’ve reported that Carvana was offering only $54,000 for a less-than-a-year-old Cybertruck with under 10,000 miles and a clean title.
Since then, Carvana Cybertruck offers have gone to as low as $49,000, which means a 51% depreciation over a year.
However, going back to Vin, comparing Carvana’s offer with the trade-in offer he got from Tesla, the Cybertruck owner seems happy.
The still surprisingly pleased Cybertruck owner shared his trade-in offer on the Cybertruck Owners Club forum.
He writes...
“Last I checked, Carvana was around $ 56- 57k, Tesla is offering more.”
Below his post, Vin shared a screenshot from his Tesla app showing a detailed trade-in offer he received from the EV maker.
The Tesla email reads…
“Your Trade-In Estimate
Trade-In Vehicle
2024 Tesla Cybertruck
All-Wheel Drive
Odometer
6,211 miles
VIN
7G2CEHED9…
Trade-In Estimate
$65,400”
Looking at the comments, while Vin seems to remain positive about the amount of money Tesla is offering to buy his Cybertruck, other Cybertruck owners appear to be more concerned.
A fellow Cybertruck owner, Robert from Idaho, says…
“Good thing I plan on driving mine until I die. There’s no point in trading in/upgrading with that low of an offer.”
Another Cybertruck owner, Dalton, seconds this sentiment, writing…
“Same, plus I’m gonna see if I can reincarnate as the next owner so I can maximize my return on investment.”
Overall, looking at the comments, Cybertruck owners seem unhappy with how much Tesla says their Cybertruck has depreciated over the past year. However, please let me know what you think in the comments.
Share your ideas by clicking the RED “Add new comment” button below. Also, be sure to visit our site, torquenews.com/Tesla, regularly for the latest updates.
Image 1: Courtesy of Tesla, Inc.
Image 2: Screenshot from Vin’s post on Cybertruck Owners Club forum; reposed under fair use copyright rule.
For more information, check out: Several Tesla Cybertruck Owners Are Reporting that Their OEM Off-Road Light Bar is Flying Off the Roof in the Middle of the Highway; However, One Owner Says, “It’s Okay, I’ve Another Cybertruck to Drive”
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.
Comments
Vin, you're getting raped…
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Vin, you're getting raped and you don't even know it. Who does that, right?
Is there any other company…
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Is there any other company in the world that mistreats their customers with such regularity yet can still get those same customers to proclaim "I still love my Tesla!" and buy their product over and over. It's kind of weird.
Stainless steel door wedge
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Stainless steel door wedge
Lol all the cyber bros…
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Lol all the cyber bros bragging about the "cheap" cost of ownership need to factor that in.
It's been the rule forever…
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It's been the rule forever that a new vehicle loses 1/3 of is value when you drive it off the lot. If a reseller is offering 2/3 of the sale price for a trade in, that's a good deal.
"Still love the truck,…
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"Still love the truck, though"
These people are just so…
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These people are just so freaking pathetic.
Also if you factor in FSD…
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Also if you factor in FSD transfer that adds a savings of 8000 on the price of new Tesla. This only helps if you were 100% getting FSD in new vehicle. Also no telling how long that the option to Transfer will last but it helps.
To Robert of Idaho,.. you…
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To Robert of Idaho,.. you believe you'll drive your Cybertruck until You die,?....
No, I don't think so.
You'll drive it until IT dies. By some accounts that may not take too long.
What a joke, did the guy…
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What a joke, did the guy even read the fine print?
"This estimate is not guaranteed and may differ from your final offer."
What a dumb article.
Vehicles typically lose…
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Vehicles typically lose nearly 50% of their value as soon as they're driven off the lot. This is not a newsworthy revelation.
The key here is "trade-in."…
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The key here is "trade-in." That means that Vin is buying another new vehicle from Tesla, and they're paying him a bonus to do so. Not so from Carvana, they're just buying the truck outright. Take that away, and the Carvana deal looks similar.
This is hilarious. Why…
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This is hilarious. Why wouldn't you sell it privately? Have you tried and nobody was willing to buy?;)
So as far as a *Scam is…
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So as far as a *Scam is concerned.
All being said & accurately stated.
That is a scam <---
1.So you give me $1,00,000 dollars of you're hard earned money.
2.I give you $65,000 dollars back.
*So if ANYONE tries this there in trouble with the authorities.
That's a scam because of the amount of money lost compared to says a $8,000 deprecation or $10,000 being within less than a year.
So the facts are that Tesla is the got to for electronics & everything state of the art Batter operated.
Right & in the electronic field the fast pase of innovation is speeding up very rapidly.
Then the understanding of the deprecation should be accounted for being ahead of technology.
So it is not the technology that is surpassing the value of the Cyber truck it is the consumer that is losing interest.
Being a car manufacturer that type of loss shouldn't be acceptable loss.
But it is an acceptable loss meaning that trying your best is not going to get you or anyone out of the scam that is taking place.
Because of the drop in value is not an acceptable one being a price lock on something brand new.
So for that type of loss is a scam meaning the company has over valued their assets.
And in order to retain their value the company has to in America make it right.
Or it's a scam <---
And is and will be a scam until Tesla understands their an American company in America selling cars to America and abroad.
This is not news. Any car…
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This is not news. Any car or truck loses 30% of its value as soon as it's driven off the lot. So ANY $100,000 car would be worth about $65-70k at this point. The owner is right to be happy about this offer, since Tesla can't even move it's inventory of NEW trucks...
The bulk of the …
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The bulk of the "depreciation" comes from Teslas reduction in the price for new trucks. He may have paid $100k, but that same truck is a little over $72k. In reality he lost around $7k in depreciation. I'm sure he doesn't feel like that, but buying one now looks like a bargain.
Stuoidash tesla owners. this…
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Stuoidash tesla owners. this is exactly how you know the vehicle you bought is trash: the manufacturer decimates its value for a paltry number of miles driven. it’s Dogetard’s way of giving you the middle finger after railing you in the ash.
The number one rule of cults…
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The number one rule of cults is that you don't know you're in a cult.
The Tesla Truck is the…
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The Tesla Truck is the ugliest vehicle ever built in my view. I think we should all take pitty on the idiots that bought these POS!
KIND OF DEFEATS THE PURPOSE…
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KIND OF DEFEATS THE PURPOSE OF THE EFFECIANTCY OF ELECTRIC VEHICLE?
Bummer. Carvana gave us…
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Bummer. Carvana gave us roughly 35% on a 2019 Nissan Rouge, which we bought from Enterprise used in 2020 with 20k (ish, I'd have to look it up). We sold it mid/late 2024, with the mileage roughly doubled. Add in the decline of the resale market post-covid, and repaired damage (that wasn't technically an "accident"). Rough situation with the Cybertruck. Minus Elon's political swing, the automatic anti-Tesla vibe seemed a bit much. But then I took a quick look at the other EVs in the market. Hyundai's budget SUV has a 0-60 that absolutely nobody in that market needs. Volvo has magic high beams. Make car brands boring again I guess.
You have to be a special…
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You have to be a special kind of stupid to be happy losing that much on a brand new vehicle.
Given that ANY new vehicle…
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Given that ANY new vehicle is considered used the moment it drives off the lot and looses 25-30% of it's value, that's not seriously all that bad. Good try making it seem as though the cyber truck is getting people ripped off.
Had this been written into the article, it would have been for more worthwhile to read.
Private sale, as long as competitive would result in a larger gain on the investment return.
Of course with all the anti…
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Of course with all the anti Tesla. One would expect the market for Tesla to drop. And in battery replacement fears for used EVs.
Seems to me that you guys…
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Seems to me that you guys are intent on bashing Tesla whether or not Vin, an actual owner, is satisfied. I've never owned a Tesla but I have owned many Fords and Chevrolets and I think to be fair you should list the depreciation value on them along with Tesla. I believe you would find them comparable. No company gives great trade in values.
So, who are the chumps who…
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So, who are the chumps who laid down good dough on these silly vehicles...and why would you do that?
More veiled Tesla bashing…
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More veiled Tesla bashing. Try trading in your $100,000 car with 6,000 miles you'll get about the same probably.