Tesla Has Started Allowing Cybertruck Owners to Trade In Their Vehicles—But Expect Major Depreciation
Exciting news for Tesla Cybertruck owners: for the first time since the vehicle’s launch, Tesla now permits trade-ins. However, be prepared for a significant hit on your vehicle’s value.
Recent reports reveal steep depreciation rates. CarGurus estimates that Cybertrucks can lose up to 45% of their value over time. Business Insider recently spoke with two owners who shared their firsthand experiences with Tesla’s current trade-in valuations. One owner, who purchased a $100,000 all-wheel-drive 2024 Cybertruck and logged nearly 20,000 miles, received a trade-in offer of just $63,100—representing a 37% depreciation. Another owner, who bought a top-tier $127,000 Cybertruck last September, was quoted $78,200—a 38% drop in just eight months.
Initially, Tesla restricted owners from reselling or trading in their Cybertrucks. This policy aimed to curb scalping of high-demand vehicles and maintain brand control. Additionally, it may have been a strategic move to prevent a surge of trade-ins from owners frustrated with Elon Musk’s political associations or ongoing quality concerns—such as issues with gas pedals and trim pieces falling off.
It’s important to note that trade-in values are typically lower than private-party sales. As with most electric vehicles, the Cybertruck tends to depreciate quickly. Industry experts note that some EV brands can lose up to half of their value within the first year.
While the depreciation might be steep, the Cybertruck remains one of the most anticipated electric pickups on the market. For current owners, understanding these trade-in trends can help in planning future vehicle decisions.
