Tesla, a company which once claimed its cars were appreciating assets, has indicated that it expects Cybertruck values to dip 30 percent over the first three years of ownership. According to the truck’s recently opened lease program a three-year 30,000 mile lease on a standard Cybertruck AWD model would see a buyout option of $54,930 at the end of the lease. Considering the starting price of $79,990, you’re driving $25,070 of value out of the vehicle. A Cyberbeast, with a starting price of $99,990, would have a lease buyout price of $67,510.
Tesla has had a rocky start to the Cybertruck product lifecycle. It’s been marred by delays, recalls, and failures. Meanwhile demand has fallen off a cliff and Tesla is stuck with a bunch of trucks it can’t sell, forcing the company to slow production and reduce worker hours. After the initial surge of sales to dedicated Cybertruck enthusiasts, it seems the market has more or less saturated on these, and everyone who wanted one has already got it.
I’m inclined to believe Cybertruck values will crater like other Tesla models already do.
When the Cybertruck was unveiled all those years ago, it was said to have a starting price of $40,000, and it was that number that got an alleged two million orders on the books. Right now the cheapest you can buy a Cybertruck is almost double that, and people are not exactly happy with the bait and switch. When Tesla claims that even a three-year-old, used Cybertruck won’t hit that magic $40,000 price, demand just isn’t going to keep up with supply.
In time we will see how things shake out, but early Cybertrucks are already losing tremendous value in the first year of ownership. A Foundation Series Cybertruck recently sold on Bring A Trailer for $75,000, which based on the original MSRP of around $120,000 marks an already significant 38 percent loss in just one year of ownership. I’ll believe Tesla’s 70 percent residual values after three years claim when I see it come to fruition.
