Tesla owners can’t resell Cybertruck without $50K penalty — and banishment

SCIENCE & TECH: Tesla owners can’t resell Cybertruck without $50K penalty — and banishment

Only Elon Musk could come up with this X-spense.

Customers who purchase Tesla’s long-awaited Cybertruck are stuck with the futuristic vehicle, whether they like it or not, thanks to an ironclad clause in its buyer’s agreement.

The years-long teased electric truck releasing Nov. 30 — which looks like a rudimentary version of the doc’s Delorean from “Back to the Future” — comes with a heavy financial penalty that inhibits resale for at least the first year of ownership.

“You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date,” the company wrote in the legally binding document.

Those who breach the clause give Tesla license to take “injunctive” legal action “or demand liquidated damages from you in the amount of $50,000.”

If a re-sale exceeds $50,000, the company can take every penny of that as well, according to the agreement. Kelley Blue Book prices the unusually looking flatbed at around $50,000 to start.

CEO Elon Musk as he unveils the Cybertruck in 2019.
AFP via Getty Images
Tesla’s Cybertruck is finally going on sale. But customers face high legal risks if they resell it.

Perhaps worst of all for some status-hungry drivers who resell, “Tesla may also refuse to sell you any future vehicles.”

This comes after Musk’s personal valuation took a brutal hit upon bad numbers off an October Tesla stock call. Musk reportedly lost $41 billion last month and his overall net worth diminished from $234 billion to $193 billion, according to CBS.

The 13% company owner even admitted at the time that they “dug their own grave” with the Cybertruck, per Business Insider.

“I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck and then making the Cybertruck cashflow positive — this is simply normal,” Musk said.

“When you’ve got a product with a lot of new technology or any brand new vehicle program, especially one that is as different and advanced as the Cybertruck, you will have problems proportionate to how many new things you’re trying to solve at scale.”

Musk warned that the Cybertruck may not lead to boisterous profits right away.

Although specs have been tight-lipped since 2019, in September 2022 Musk posted on his platform X, (formerly Twitter) that it “will be waterproof enough to serve briefly as a boat, so it can cross rivers, lakes & even seas that aren’t too choppy.”

Though, Needham analyst Chris Pierce previously told The Post he expects the stainless steel EV to be just a “niche vehicle in the end.”

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