A Cybertruck owner recently posted his truck for sale, sparking debate about the fair price for a used Cybertruck. Thankfully, several former Cybertruck owners chimed in, sharing exactly how much they sold their trucks. And the market is rough.
A number of Cybertruck owners have opened up about how much money they lost when they sold their all-electric trucks. This discussion amongst the former Cybertruck owners took place on the Cybertruck Owners Only group on Facebook.
The whole thread started when Dave Peck, a Cybertruck owner from Hilton Hill, South Carolina, posted his truck for sale on Facebook.
However, rather than trying to sell the vehicle on Facebook Marketplace, Dave instead went to the Cybertruck Owners Only group to find buyers.
Here is what Dave wrote: “Anyone interested in buying a Foundation Series Cybertruck? It has 6,200 miles on it. I'm selling it because I want to get the Cyberbeast. If you’re looking for a Foundation Series variant, I can make you a pretty good deal on this one. Thanks!”
Below his post, Dave added a picture of his All-Wheel-Drive Foundation Series Cybertruck looking polished and clean.
Everything is normal up to now. However, what was surprising was that rather than a flood of interested buyers, Dave’s post was overrun by other Cybertruck owners who have already sold their trucks or are in the process of offloading the vehicle.
The highest-rated comment below Dave’s post is from Jeff Helm, reading: "I have a tri-motor Cyberbeast. It’s posted for sale on Facebook Marketplace.”
When people try to sell a Cybertruck truck online, the comment section inevitably devolves into arguments about how much the vehicle is worth secondhand, which also happened here.
As for Dave, he says, “The Foundation Series Cybertruck All-Whee-Drive sells for $102,000 New. I was thinking $90,000 was fair.”
To add more color, Dave did not pay $102,000 for his Cybertruck. He bought it used. However, more disappointingly, he bought his Cybertruck used at 5000 miles for $110,000.
However, after only driving his truck an extra 1200 miles, Dave decided to sell his Cybertruck for a $20,000 discount. This is surprising.
Dave writes, “I paid $110,000 with 5000 miles on it. That’s the honest truth. It came with tinted windows. It’s in perfect shape. It looks like they are $102,000 new. I’ll do $90,000 firm on it.”
However, despite Dave believing $90,000 was a fair price, people in the comments started to downbid him. Some even offered as little as “$70,000 cash.”
Initially, the Cybertruck fans defended Dave, suggesting that $90,000 was too low and that he should sell it higher, preferably to a dealership.
This is where the back-and-forth between Cybertruck fans and detractors erupts. Surprisingly, former Cybertruck owners come on the side, arguing that $90,000 is too high for a used Cybertruck.
As mentioned above, Cybertruck fans where advising Dave to go to a dealership to get higher price for his truck.
Jed Hart, for example, wrote, “$90,000 is very fair. You may want to go to a dealer. They are paying above $90,000.”
Another group member writes, “Just saw one sell for $92,000 in Florida with 4900 miles. Don’t listen to the trolls who don’t know what firm means.”
At this point, you might think Dave could get a higher price if he sold his truck to a dealer; however, former Cybertruck owners say otherwise.
Donald Hansen responded, “I just sold mine to a dealer for $88,000,” suggesting Dave’s $90,000 ask might be a bit higher than what the market is willing to pay.” Having said that, Donald did not share any of the specifics about his truck, making it impossible to make a comparison.
However, another former Cybertruck owner, Soman Panicker, chimed in with his own experience. Soman’s story gives more credence to the argument that $90,000 for a 5600-mile Cybertruck might be too high.
Here is what Soman wrote…
“I sold my Cybertruck for $88,000. That is a very bad appraisal. It only had 2930 miles. Almost $30,000 gone in two months.
My Cybertruck was wrapped with vinyl. Even Tesla did not want to trade it in for a Model X Plaid. They said that since it’s a new vehicle, I have to wait until next year.
No other dealership was interested in buying it except Lexus. It's not a user-friendly car for a petite person. The retail price is very, very bad!”
Below Soman’s post, other current Cybertruck owners piled on, soliciting buyers to take their Cybertrucks. Overall, it appears that Cybertruck resale prices have officially fallen below the $90,000 mark.
As for Dave, he says he has found two buyers who are already willing to pay him $85,000. This was in response to a group member who offered to pay $80,000 and suggested that Dave should sell his truck now or else he wouldn’t find a buyer for $70,000 next month.
Dave responded by writing, “Right on, brother. I’ve got two $85,000 offers right now, so I’m going to pass on your offer of $80,000 and holding off on $70,000 in a month advice as well. I’m actually waiting to hear back on a full-price offer in the morning.”
Overall, it’s surprising to see people losing over $30,000 on a two-month-old Cybertruck. However, do let me know what you think about Cybertruck resale prices. Share your ideas by clicking the red “Add new comment” button below. Also, visit our site, torquenews.com/Tesla, regularly for the latest updates.
Image: Courtesy of Tesla, inc.
For more information, check out: I Got Into an Accident Driving My Tesla Cybertruck; My Airbags Didn’t Even Deploy, Whereas the Other Vehicle was Totaled
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.
I will not be surprised if…
I will not be surprised if these things depreciate like a lead balloon over the coming years.
Just think, a few months ago…
Just think, a few months ago the CT was selling for way more than $102k. Some people bought them specifically to flip them for slit more than the price new. All because certain people don't want to wait in line. So, for those that paid over 150k to not have to wait, you have lost 60k so far. Why would anybody do anything like that.
Now that the cybertruck has…
Now that the cybertruck has been around for a while and Tesla is beginning to sell the AWD version for $79K, I would say the party is over for those that thought they could by their truck and then flip it for a profit. And personally I do not feel too bad for a person that could afford to buy any vehicle for a $100,000 and then is shocked to discover they can't sell it for the same price. Hey man, t's cool and all, but it's a used car.
Anyone selling a 100k+ car…
Anyone selling a 100k+ car after 1200 miles is a fool. Why buy something that much and change your mind after 2 months. People who can afford $90k for a used car can afford $110k for a new car. There is no wait anymore. The market where someone might sell a car close to what they paid for it is gone. This is not news.
This is a hit piece. I…
This is a hit piece. I expect the cybertruck to depreciate. I bought it believing it would depreciate faster than average. I have now watched and read pieces like this one that cry about the the machines not going for 2x cost any more ... !? What vehicle in recent times appreciates in value after you drive it off the lot? My wife drives a minivan Pacifica. Her depreciation curve was much greater than the Cybertruck to date. Yesterday I let the truck drive me from Memphis to Springfield Missouri without any input from me. I smiled the entire way. Elon has figured out a better way to make cars and trucks. He doesn't advertise because his vehicles are better. You may not see it, but the market does.
The 80,000 truck I ordered…
The 80,000 truck I ordered after the CT was announced had 45% better specs than Cyberbeast across the board. The market for the truck, i believe will revert to the approximate expectations set at announcement. The CT is clever but not yet substantially considerable along side workhorse 150 or 1500 work trucks. I refused delivery of my order for price but mostly for shortfall of usability.
I'm not sure what's more…
I'm not sure what's more ridiculous, the fact that people are somehow suddenly surprised when near $100k vehicles lose value the second they drive off the lot, or that someone thought this was a newsworthy story worth putting time into. Time to update the preferences to exclude torque"news".
The hype died quick, the…
The hype died quick, the actual releases cybertruck is a dud compared to what the prerelease promised.
Expect to see the prices keep dropping. People are not spending what they used to and the cybertruck does not do anything particularly well.
For one the car market is…
For one the car market is selfish taking a crash two it is a novelty car it's not practical three it's electric even though we've taken big strides in the past 10 years with electric it's still not worth it It takes 12 minerals to build an electric vehicle where an internal combustion takes two that being said it is extremely toxic to the environment to build a electric vehicle not to mention the carbon emissions that are put off just shipping the materials but yet we're supposed to believe the electric cars are going to save us no no they are not other technologies are needed and lithium is not the answer too expensive two toxic to the environment electro cars are novelties hopefully short-lived
All cars depreciate hard…
All cars depreciate hard initially. Mercedes, Audi, Tesla all the same. Only for a short period in the history of cars have they appreciated during the COVID period. So this is actually normal and not news.
You bought it and tried to sell it a few months later your going to take the biggest loss. Crying because of your decision and blaming others just shows how mature you are.
Psst, most Savvy people know…
Psst, most Savvy people know that new 'standard' cars generally depreciate 20 to 25%, the moment you drive them off the Dealer's lot. How there may be exceptions for certain extraordinary vehicles, but that is a general rule of thumb. That is why I buy one and two year old used vehicles and let somebody take the depreciation hit. Point being that 30% for this e pickup is not too far off the general rule. Further, the issues people have with electric vehicles what's even more downward pressure on the resale price. Further, doesn't help that they are uglier than sin.
A dealership offering $88k…
A dealership offering $88k is going to mark it up to $98k by the time it goes to market. There is an old saying about a fool and their money...
Oh my, rational choice…
Oh my, rational choice theory out the door and straight into orbit (maybe glued onto one of those exploding Musk rockets?) when it comes to the fugliest most horribly overpriced uhmmm.. Tesla vehicle (for lack of a better word)?
What a shocker, ah!
Tesla-lovers, please please pick some worthy cause to give away your obviously unneeded loads of cash. There's so much you can do with the extra money you obviously do not need to make a difference in this world, why on Earth would anyone dish this amount of money on something so pointless and vain as a Tesla cybersomething? I don't get it.
This is surprising? The stat…
This is surprising? The stat I've always heard is that new vehicles lose 30% of their value the moment you drive them out the lot. Maybe Tesla is just not getting special treatment from buyers any more.
A smooth talking swindler…
A smooth talking swindler swindled dupes into believing the truck was some revolutionary invention...dupes surprised when they can't get their money back.
Oh no...
Welcome to the world of…
Welcome to the world of depreciation. Electric vehicles are known to have an immediate 30% drop in value once it hits the lot. Especially Cybertrucks that are flooding the used market because they're not cool anymore for their owners.
I hate that you all got…
I hate that you all got taken by a con man. The trucks are ugly. I hear people all the time saying, “Why would you?” In reference to the drivers. I think Elon has some great people working for him. I think he’s a con man, a narcissist, and a bully. Who has no concept of empathy or compassion. Nor does he even know what life is about. I feel sad for him because he lives in a twisted self-made fantasy world.