Automotive YouTuber: I Canceled My Tesla Cybertruck Order After I Saw Prices Falling Below MSRP, I’ll Buy One for $50,000 in 1 to 2 Years

Many Cybertruck reservation holders are wondering whether to buy a Foundation Series Cybertruck now or wait for the regular Cybertruck version to be available and prices to fall.

A few months ago, buying a Cybertruck was a great investment since prices for second-hand Cybertrucks were hovering above $200,000. Buy a truck, drive it a bit, and sell it for an $80,000 profit—who wouldn’t say yes to that?

However, fast-forward a few months, and Cybertruck prices are starting to come down to earth. Last week, we saw a Cybertruck sold for less than MSRP for the first time.

The Cybertruck was auctioned off online, and the Foundation Series AWD truck only fetched $108,000. After adding sales tax, Tesla’s Doc, and destination fees, the first owner paid more than $110,000 for the vehicle.

This brings us back to our automotive YouTuber, James, better known as TheStradman, who has over 4.4 million subscribers on YouTube. On his latest appearance on the Iced Coffe Hour podcast with Graham Stephan and Jack Selby, TheStradman revealed that falling Cybertruck prices have forced him to cancel his Cybertruck order.

During the interview, Graham asked TheStradman, “So what's going on with the car market right now? We're seeing prices begin to come back down. The Cybertruck was something that I've been watching a lot, and I saw prices start at about $180,000, and then, every week, they drop by $10,000. Now I saw one that recently sold for $108,000, which would have been cheaper than if I had bought one and paid sales tax on it.”

In response, TheStradman says, “Ironic you would say that. I canceled my Cybertruck because I've been watching the market the same way as you. So when I first saw the Cybertruck come out, I had one on order, and you know they're trading for $200,000 or whatever.

Sure enough, though, as they started to flood the market, a cheaper one was out there every single week for $10,000 less, and I was like, I'm not going to spend $120,000 on a brand new Cybertruck when I can buy a used one.

Cybertrucks are everywhere, especially if you are considering one for social media. I saw four in a matter of 15 minutes the other day when I was filming a video. They're around every street corner, and I think that just sums up the market.”

TheStradman continues to explain that vehicle prices, especially in the used market, had reached a historic high during the COVID-19 pandemic. This was due to low interest rates and the chip shortage that significantly hampered new vehicle production.

Stradman states that the fall in Cybertruck prices indicates a wider change in the automotive world, stating, “Although similar to all car values, what happened during Covid is probably never going to happen again. That was such a unique moment in time, and I think we almost need to remind ourselves that it wasn't normal. We have to change our thought process to go back to 2019 because, most of the time, a car comes out at MSRP, and if you drive it off the lot, you lose 10%. That's what it used to be our whole lives until COVID-19 happened and cars started to trade over MSRP.”

Finally, on the Cybertruck price, Stradman says, “I think the market is just correcting back to that old normal, and I think the Cybertruck is, you know, the pure definition of that. Someday, I'll pick up a Cybertruck, I bet, for $50,000 to $60,000, maybe even in a year or two.”

Related News: Traveling at 35 Mph, an Oncoming Truck Carrying Gravel Dumps 2 Tons of Rock Over My Tesla Cybertruck – My Cybertruck Held Up Incredibly

A $50,000 Cybertruck in a year or two is a frightening prospect for anyone who purchased a Cybertruck for full price. If TheStradman’s prediction comes true, it’s even more devastating for individuals who bought the vehicle above MSRP and paid as much as $200,000.

Currently, after the first Cybertruck broke the “sold below MSRP barrier,” now there are several Cybertrucks listed for sale online below their original price.

In the first year of ownership, Tesla requires Foundation Series Cybertruck owners to sign a contract barring them from reselling their vehicles on the secondary market. Tesla reserves the right to sue people found to be violating this contract for $50,000, and the EV maker also bans them from purchasing any of the company’s products in the future.

A Tesla Cybertruck owner who sold his vehicle in the secondary market recently shared that Tesla found out he resold his Cybertruck, and the company blacklisted him from purchasing any other Tesla vehicles.

Tesla implemented this system to prevent flippers from buying Cybertrucks solely to resell them on the secondary market.

However, now that Cybertruck prices have fallen below the original selling price, It doesn’t appear that Tesla will be any longer interested in implementing the no resell.

Going back to TheStradman, the automotive YouTuber is not the only person holding off on purchasing a Cybertruck due to the falling prices.

Tesla forums online are littered with examples of people canceling their Cybertruck reservations, fearing their investment will quickly depreciate once Tesla cuts prices.

Overall, it’s surprising to see this sentiment, even amongst seasoned automotive YouTubers, that Cybertruck prices will fall massively over the next couple of years.

Currently, Tesla has stated that it will only be selling the Foundation Series Cybertrucks until the end of the year; however, we’ll be sure to keep you posted on Cybertruck prices going forward.

Until then, make sure to visit our site, torquenews.com/Tesla, regularly for the latest updates.

So, what do you think? Are you surprised to hear the possibility of a $50,000 Tesla Cybertruck? Also, do you think buying a Cybertruck is a good decision right now? Let us know your thoughts in the comments by clicking the red “Add new comment” button below.

Image: Screenshot from Tailosive EV YouTube channel

For more information, check out: It Cost Me $55.35 to Charge My Tesla Cybertruck, It’s Cheaper to Drive My Ford F-150

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.