Tesla could sue you for US$50,000 if you try to resell its new truck
The futuristic self-driving Cybertruck by Tesla is set for release this month. But buyers may want to take a closer look at the sale agreement — the automotive company will sue owners if they sell their vehicle within the first year.
Set for release on November 30, the Cybertruck is an electric vehicle (EV) described by the company as “better utility than a truck with more performance than a sports car.”
The vehicle, which looks like something straight out of a sci-fi movie, features a durable exoskeleton, a stainless steel exterior that eliminates dents, and armoured glass that can absorb impact.
But apart from its sleek design and impressive features, a section under Tesla’s Motor Vehicle Order Agreement has been making headlines.
Business Insider reports that the agreement includes a section called “For Cybertruck Only” that details the company’s policies regarding reselling the vehicle.
Tesla
The policy states, “You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.
“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 or transfer, whichever is greater. Tesla may also refuse to sell you any future vehicles.”
Tesla, however, may buy back the vehicle at the original price (minus the cost of wear and tear), should a customer have a valid reason. But if the company doesn’t want to buy the Cybertruck, the customer may be permitted to sell the vehicle.
The unusual agreement might be because the software used for Tesla vehicles uses a subscription model. The US$199 monthly subscription is non-transferable.
So you’d better be 100% sure of this purchase.
While Forbes predicted the cost of the EV to be US$39,900 in 2019, experts now estimate that the starting price could be anywhere from US$50,000 to US$70,000.
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