Tesla has finally permitted Cybertruck owners to trade in their vehicles for the first time since its release, but the resale values reveal a harsh reality. According to Inside EVs, early adopters are facing significant depreciation, with losses nearing 40% in some cases.
Data from CarGurus shows that Cybertrucks have depreciated by as much as 45%. Business Insider recently spoke with two owners who shared their trade-in offers from Tesla:
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One owner, who purchased a $100,000 AWD 2024 model and drove 19,623 miles, was quoted $63,100—a 37% drop in value.
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Another, who bought a $127,000 Cyberbeast in September 2023, received an offer of $78,200—a 38% loss in just eight months.
Initially, Tesla prohibited resales to prevent scalping and maintain brand control. However, this policy may have also delayed a wave of trade-ins from owners dissatisfied with Elon Musk’s polarizing political ties or ongoing quality issues, such as malfunctioning accelerators and faulty trim pieces.
It’s worth noting that trade-in values are generally lower than private sales, and EVs—especially luxury models—tend to depreciate rapidly. Wired reports that some electric vehicles can lose up to 50% of their value in the first year alone.
