Selling a Used Tesla Cybertruck to CarMax – 25% Depreciation ($76,000) After 3000 Miles and 2 Months

Cybertrucks in the secondary market are currently selling for as high as $300,000. However, the 1st used Cybertruck offered to CarMax for sale has poured cold water on Cybertruck prices. The truck loses 25% of its value in 3000 miles.

In 2024, Cybertruck is one of the hottest products on the market. Interest in the all-electric truck remains exceedingly high while supply remains relatively limited.

As of January, Tesla has officially announced that all Cybertruck production for the rest of 2024 has already been sold out to people who converted their $100 reservation to a binding order by paying $2,000.

Given the extraordinarily high demand and the limited supply, Cybertruck’s on the secondary market are illegally being sold for as high as $300,000 apiece.

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That is an extra $200,000 above what people paid to Tesla, which for the Foundation Series Cybertruck AWD and Cybereast are $100,000 and $120,000, respectively.

If the Cybertruck were a limited-run vehicle, these prices would make sense; however, Tesla has officially communicated that by 2025, the company plans to increase the Cybertruck production run rate to 250,000 vehicles a year.

Once Tesla ramps up Cybertruck production, this leaves the question of where prices for the all-electric truck will stabilize in the used car market.

Lucky for us, Dan from the What’s Inside YouTube channel has answered this precise question. Dan took a Cybertruck AWD wrapped in green vinyl to one of the largest used car markets: CarMax.

CarMax has an extensive used car buying and selling business in the US, and the company’s employees combined have appraised hundreds of thousands, if not millions, of used vehicles.

As expected, when Dan took his Cybertruck to CarMax, it was the first ever Cybertruck offered to the company for sale. As a result, the company could not rely on past sales to appraise the truck and had to make the offer on presumably conventional used car metrics.

So, how much did CarMax offer for the Cybertruck? Drum roll, $76,000. That’s $26,000 below the purchase price for the vehicle, which costs around $102,000 brand new. The truck has also been wrapped in a superb green color, which increases the cost to close to $110,000.

In case you are wondering, the Cybertruck in question has 3000 miles on it and has been driven for about two months.

Besides that, the truck has no accidents or obvious dents or scratches, and overall, the truck is in pristine condition.

Over 25% depreciation for a Cybertruck in just 3000 miles might be shocking, especially given that the vehicle is selling two to three times its MSRP; however, long term, once Tesla ramps up production, it appears this will be the new normal.

Depending on whether you are currently a Cybertruck owner or a person looking to purchase the vehicle, this news might be disappointing or exciting for you.

No matter the case, we’ll keep you updated with 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? Surprised to see how much the Cybertruck depreciates in just 3000 miles? Where do you think Cybertruck prices will stabilize long term? Let us know your thoughts in the comments below.

Image: Screenshot from What’s Inside? Family YouTube channel

For more information,  check out: A Tesla Cybertruck Covered in Over a Foot of Snow Shows Why the Truck’s Design Makes it a Breeze to Clean Ice off the Cybertruck

Tinsae Aregay has been following Tesla and The evolution of the EV space on a daily basis 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.