Tesla owners looking to trade in their Cybertrucks are facing substantial losses, as recent feedback has shown depreciation rates as high as 45% since Tesla officially began accepting trade-ins. According to data recently released by vehicle valuation platform CarGurus, the Cybertruck, which entered the market with significant fanfare and anticipation, is now depreciating sharply just months after hitting customers’ driveways.
Two separate Cybertruck owners, interviewed by Business Insider, illustrated this brand new reality with stark examples. One owner, who bought a 2024 all-wheel-drive model at $100,000 and accumulated fewer than 20,000 miles, received a trade-in offer from Tesla of only $63,100, equating to a depreciation hit of 37%. Another individual, who purchased Tesla’s flagship $127,000 “Cyberbeast” model just last September, received an appraisal of $78,200, marking a 38% drop in value over just eight months.
Tesla’s initial policies had explicitly restricted owners from reselling their Cybertrucks, a move intended to prevent speculative flipping amid high demand, and possibly also to shield the company from negative attention due to ongoing quality control problems. These problems have included documented cases of malfunctioning accelerator pedals and physical issues such as trim pieces unexpectedly detaching, factors likely contributing to diminished enthusiasm among early adopters.
While it’s widely understood that trade-in values provided directly by auto manufacturers or dealers typically fall below what private-party sales can fetch, the severity of depreciation seen with the Cybertruck stands out, even considering the historically fast depreciation associated with electric vehicles. According to industry analysis, some electric models across various brands can lose up to half their market worth within the first year of ownership alone.
