First Cybertruck Owners Not Allowed To Flip Them Without Tesla’s Consent Or Will Be Fined $50,000 | Carscoops

If owners have to sell, Tesla has to be notified in writing and has the option of buying back the vehicle

Tesla will not allow Cybertruck owners to sell the new electric pickup within the first year since delivery unless they seek the express permission of the car manufacturer and give Tesla the opportunity to buy it back.

The Cybertruck is perhaps Tesla’s most eagerly-awaited new product and Elon Musk says the first deliveries are penciled in for November 30. While Tesla has yet to even announce the final specifications and pricing details of the Cybertruck, it has updated its Motor Vehicle Order Agreement with a stipulation just for Cybertruck owners.

Owners who want to sell their vehicle within the first year can only do so with an unforeseen reason and must notify Tesla in writing and give the company a reasonable time to purchase the vehicle at its sole discretion. Should Tesla decline to purchase the vehicle, owners will be able to sell it to a third party but only after receiving written consent from the carmaker.

Those who breach the contract could be hit with $50,000 in liquidated damages or the value of the vehicle. Tesla may also seek to prevent the transfer of the vehicle’s title and refuse to sell the owner any future vehicles.

It is not unusual for car manufacturers to prevent owners of desirable new vehicles from flipping them with contracts like this. Ford famously did it with the third-generation GT and GM did it with early examples of the GMC Hummer EV. Porsche also does it frequently with limited-run versions of the 911 and is currently forcing buyers of the new 911 S/T to lease their vehicle for the first 12 months. However, it is very unusual for a carmaker to enforce an anti-flipping rule for a mass-market vehicle like the Cybertruck, of which Tesla reportedly has upwards of 2 million orders.

Tesla has not said if this rule will be in place for the entirety of the Cybertruck’s multi-year production run or if it may only be around for those examples delivered in just the first few months. Whatever the case may be, it is bound to upset those who have secured a low VIN and had planned to flip it for a profit.

Watch: Does Tesla’s Cybertruck Look Better Or Worse With Matte Black Wrap?

Tesla’s full no-reseller policy terms:

“For Cybertruck Only: You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date. Notwithstanding the foregoing, if you must sell the Vehicle within the first year following its delivery date for any unforeseen reason, and Tesla agrees that your reason warrants an exception to its no reseller policy, you agree to notify Tesla in writing and give Tesla reasonable time to purchase the Vehicle from you at its sole discretion and at the purchase price listed on your Final Price Sheet less $0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla’s Used Vehicle Cosmetic and Mechanical Standards. If Tesla declines to purchase your Vehicle, you may then resell your Vehicle to a third party only after receiving written consent from Tesla. You agree that in the event you breach this provision, or Tesla has reasonable belief that you are about to 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 or transfer, whichever is greater. Tesla may also refuse to sell you any future vehicles.”