Cybertruck trade-ins crash the resale dream – and it’s not pretty.
Credit: wedmoments.stock, Shutterstock.
Musk finally admits what your wallet already knows
Tesla has finally let the Cybertruck cat out of the bag – and it’s taken a massive bite out of its customers’ wallets. After months of snubbing its own customers, the EV giant has quietly started accepting Cybertruck trade-ins… and the resale reality is more depressing than a Monday morning with a dead battery.
Until recently, Tesla flat-out refused to take its futuristic steel beast back from buyers – even those desperate to swap their stainless steel statement on wheels for something a bit less Doomsday Prepper Chic. But now? Elon’s empire is finally coughing up offers. And guess what? They’re as bruising as a full-speed Autopilot mishap.
“My $99,990 Cybertruck’s worth just $65,400 now,” one brave soul revealed on the Cybertruck Owners Club forum, after clocking a mere 6,211 miles.
Another owner, whose truck had racked up over 32,000 miles in a year, was offered $60,500. That’s a 40% nosedive, faster than a Bitcoin crash.
Another owner added, “Good thing I plan on driving mine until I die. There’s no point in trading in/upgrading with that low of an offer.”
Rustproof, but not wallet-proof
When the Cybertruck finally rolled off production lines, it came wrapped in hype, stainless steel, and clauses. Early adopters of the Foundation Series had to agree not to resell for a year – a move that now seems less about exclusivity and more about damage control.
Now, with that clause expired, Tesla has quietly started taking trucks back…
It’s not just Tesla’s truck taking a tumble: EVs are depreciating fast
Let’s be fair – it’s not just the Cybertruck getting clobbered on resale. Electric pickups in general have less than desirable retention.
According to Kelley Blue Book, a 2024 Ford F-150 Lightning Platinum sheds a shocking $30,707 in value in just one year – that’s 36% gone, despite starting at a hefty $87,090.
The so-called electric revolution? It’s starting to feel more like a garage sale.
You might save the planet, but you could torch your wallet – electric cars are losing value faster than you can say “aged milk.” According to Autovista Group, battery-electric vehicles (BEVs) are plummeting in resale value across Europe, with three-year-old models retaining far less of their sticker price than petrol or diesel equivalents.
In Ireland, DoneDeal reported a jaw-dropping 15% drop in used EV prices in just one year, thanks to a flood of ex-fleet cars and brutal new car price cuts by manufacturers.
While early EVs were ditched like last year’s iPhone due to dodgy range and sluggish charging, today’s models are slicker – but their older cousins are still paying the price.
Battery fears? Not so justified anymore – data from Recurrent shows just 2.5% of EV batteries needed replacement outside recalls.
But it’s not just what’s under the bonnet: tax incentives, Chinese budget brands, and post-COVID supply chaos have all skewed the second-hand scene.
Some Teslas are €8.5k cheaper than a Corolla in one EU country and a whopping €6.5k dearer in another, all thanks to wildly different subsidies.
The steel elephant in the room
So why did Tesla finally crack and start accepting trade-ins?
Simple. They couldn’t ignore the growing number of disillusioned owners looking to cut their losses. Offering a trade-in is damage control – a way to keep people in the Tesla ecosystem, even if it means swallowing a few bitter losses. It’s the corporate equivalent of smiling while being slapped.
The Verdict?
The Cybertruck’s resale value is tanking faster than Elon’s Twitter patience. It may still turn heads on the motorway, but when it comes to trade-ins, it’s about as desirable as a used Betamax. If you thought your Cybertruck would hold its value like a classic Jaguar – think again. It’s looking more like a used fridge with wheels.
The good news? As tech improves and buyers wise up, used EVs may finally start holding their charge – both on the road and in your bank balance.
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