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Can’t Sell Your Cybertruck: Tesla could have a ‘no resale’ policy for first year of ownership

Toronto, Ontario — Tesla’s electric pickup will be subject to a “no resale” policy, according to recent reports and sightings in recent buyers’ agreements.

According to Tesla terms and conditions–spotted by recent purchasers of Model 3 and Model Y vehicles–Tesla Cybertruck buyers will not be allowed to sell their vehicles for up to a year following the delivery date. The clause noted by the Model 3 and Model Y buyers is listed under section “For Cybertruck Only,” according to reports.

If owners want to flip the car in the first year of ownership, they must notify Tesla in writing and await potential exceptions from the policy. If the reasoning is accepted, owners can still only sell their trucks straight back to Tesla. If they are declined, owners/sellers may be able to receive consent to sell the vehicle to other third parties.

The terms and conditions, shared by Teslarati, state that the “[Owner] agree[s] that, in the event [they] breach this provision, Tesla may seek injunctive relief to prevent the transfer of title of the vehicle or demand liquidated damages from you in the amount of $50,000, or the value received as consideration for the sale of transfer, whichever is greater.”

The clause also states that Tesla could also refuse to sell the Cybertruck seller any future vehicles, should they be found in violation of the term.

The Cybertruck event at Tesla’s Texas Gigafactory is reportedly scheduled for Nov. 30, with invites to be sent “soon(ish),” according to Tesla’s Head of Investor Relations, Martin Viecha.

Click here for more information on Tesla’s purchase agreement. 

 

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