Tesla’s price cuts are clearly not helping the state of the second-hand market, particularly for the Cybertruck.
As prices fall at Tesla, some owners of Cybertruck try to sell their used vehicles at higher prices than new models.
A second-hand market under pressure for the Tesla Cybertruck
Launched in UNITED STATES with strong demand, the Tesla Cybertruck continues to make waves. With its iconic and controversial design, it remains one of the most popular electric pickups of the moment. It even outperforms the Ford F-150 Lightning. The original owners of the Cybertruck spent we are amazing to be the first to afford one, the second-hand market is now invaded by advertisements for resale at exorbitant prices. These prices are often higher than the current new price.
In the United States, a Tesla Cybertruck is worth $79,990, or approximately 75 500 euros. As for the version with the Cyberbeast tri-motor, it costs $99,990, which represents approximately 94 300 euros. However, some buyers try to resell used models for more than $100,000. For example, a dealership located in Dallas offers a base model with 9,500 miles for $101,994.
photo credit: Pexels The second-hand market is going completely crazy with the Tesla Cybertruck.
In New Jersey, another dealer listed a Cyberbeast model with 745 miles at $119,000. Others go even further by surfing the initial rarity of the model. In Los Angeles, an owner is asking $152,000 for a nearly new Cybertruck with 61 kilometers on the odometer. This is crazy compared to the current value of a new model.
A real risk for first buyers
Tesla’s direct sales model with its prices without dealer margins has always maintained an atypical approach of the market. However, recent price drops worry those hoping to make a plus-value for resale on their vehicles. Some owners bought their Cybertruck for prices around $120,000, but they could now end up with an electric pickup worth much less.
Elon Musk has already announced that full production of the Cybertruck will not reach its peak rate for several years. However, vehicle availability is already high enough to cause resale values to fall.
This therefore poses a particular challenge for owners of a Cybertruck who have taken out a loan to finance their purchase. If Tesla continues to cut prices, some could end up with a loan higher than the resale value of their vehicle. This could significantly affect their finances. With increasing stocks and sudden price changes, unfortunately this is unlikely to improve any time soon.
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