Tesla Cybertruck Buyers Restricted from Reselling Within First Year
The highly anticipated Tesla Cybertruck is set to be officially revealed on November 30, marking four years since Elon Musk first announced its development. In an effort to combat the issue of flippers that have plagued recent vehicle launches, Tesla has made a significant update to its Motor Vehicle Order Agreement Terms and Conditions. The update explicitly states that Cybertruck buyers will not be allowed to resell the vehicle within the first year of ownership.
Restrictions on Reselling
The revised terms and conditions now include the following statement: “For Cybertruck only: You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.”
While this restriction may seem strict, Tesla has indicated that exceptions may be granted to buyers who provide a valid reason for selling within the first year. However, the automaker holds the right of first refusal to repurchase the truck, and any resale to a third party can only be done with Tesla’s permission. Breaking this policy can result in Tesla demanding liquidated damages of $50,000 or the value received from the sale or transfer, whichever is greater.
Ensuring a Fair Market
Tesla’s decision to impose these restrictions is aimed at preventing the resale market from driving up prices and depriving genuine customers of the opportunity to purchase a Cybertruck at its original price. By implementing these measures, Tesla hopes to maintain a fair market for its highly sought-after electric pickup truck.
It is worth noting that Tesla’s approach is not unprecedented, as other automakers have also taken steps to combat the issue of flippers in recent years. By taking early action, Tesla aims to protect the interests of its customers and ensure a smooth launch for the Cybertruck.
[Image: Tesla]
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