Tesla Says The Cybertruck Will Hold 70% of Its Value After Driven for 3 Years

Tesla has given us a hint as to how much it believes the Cybertruck will devalue over the coming few years. Tesla included this information in the fine print of the recently opened lease-end purchase program.

This is a new update to Tesla’s sales strategy: The company now allows people who lease its vehicles to purchase them when the lease term is over.

According to the lease agreement, after 3 years and 30,000 miles, Cybertruck owners must pay $54,930 to purchase the vehicle outright. 

Tesla writes…

**Lease vehicles are subject to a $395 disposition fee at return. Option to purchase for $54,930 plus applicable taxes and fees, and purchase fee of up to $350 subject to the terms in the lease agreement. Purchase option may not be available in IA, LA or where prohibited by state law.”

At a starting price of $79,990, this means Tesla expects the Cybertruck will only devalue by $25,070 or 31% in three years.

For the tri-motor Cybertruck Cyberbeast, Tesla says the end-of-lease buyout price after a similar length of time and miles—3 years and 30,000 miles—is $67,510.

At a $99,990 starting price for the Cyberbeast, this is $32,490 lost value over three years, or around 32.5% devaluation.

Based on these expectations, Tesla has set the 36-month, 10,000-mile-per-year lease price for these vehicles.

Tesla is asking for $899 per month to lease the dual-motor Cybertruck AWD and $999 per month to lease the tri-motor Cybertruck Cyberbeast.

So far, this wouldn’t be too much of an issue; however, current Cybertruck resale prices suggest that it’ll be difficult for Tesla to get 70% of the vehicle's value after 3 years.

A few weeks ago, we covered a story about multiple Cybertruck owners who decided to sell their trucks.

One of these individuals says he lost $30,000 when he sold his Foundation Series Cybertruck with only 2930 miles. The going price for a second-hand Foundation Series Cybertruck has now firmly fallen below $70,000.

Currently, Foundation Series Cybertrucks, with a $100,000 starting price, are selling between $65,000 and $68,000.

At these resale prices it means the Cybertruck has already lost more than $30,000 or 30% of its value over a few months.

This is where Tesla’s hopes that after being driven for 3 years, it’ll earn $55,000 for the $80,000 Cybertruck AWD and $67,500 for the $100,000 Cyberbeast get into trouble.

If Tesla is calculating the Cybertruck monthly lease price under these assumptions, the EV maker will be left with residual values below what it costs Tesla to produce the truck.

To better line up with the situation on the ground, I would advise Tesla to decrease the end-of-lease purchase price and maybe increase the monthly lease payment.

Overall, given how much Cybertruck prices have fallen so far, I find it hard to believe the vehicle will hold close to 70% of its value after 3 years.

However, please let me know in the comments if you think otherwise. 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: Tesla Cybertruck Immediately Dies in Canadian Winter – Owner Bricks the Truck Trying to Use the Defroster, Says “In Love to Heartbroken on the Same Day” 

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.