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Tesla’s Buyback Clause Tested As Another New Cybertruck Up For Auction | Carscoops

The Cybertruck headed to the Mecum auction has only been driven 13 miles, and the original owner is clearly aiming to make a tidy profit


by Brad Anderson

8 hours ago

 Tesla’s Buyback Clause Tested As Another New Cybertruck Up For Auction

Yet another low-mileage Tesla Cybertruck has hit the market and will be sold by Mecum Auctions this weekend. A host of Cybertrucks have traded hands in recent weeks for upwards of $250,000 but there is no guarantee this example will fetch as much.

This model is one of the desirable Foundation Series versions and has been driven just 13 miles (21 km) since new. While there’s certainly a chance it will sell for upwards of $200,000, the president and founder of Give Me The VIN, recently indicated the market has already corrected after a pair of Cybertrucks fetched $195,500 and $189,000 in recent days.

Those who secured an allocation for the Cybertruck Foundation Series model had to cough up around $120,000. That’s a significant amount of money for most but given how much demand there is for the first Tesla pickup, it’s hardly a surprise that owners are quickly flipping their vehicles for a profit.

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Read: Porsche Dealer That Bought Flipped Cybertruck For $244,000, Now Flipping It For $290,000

Photos Mecum Auctions

Curiously, individuals are flipping their Cybertrucks despite Tesla implementing a clause in its sales contract prohibiting the practice. The automaker says that any Cybertruck owner who wants to part ways with their truck must first request a buyback of their truck if they want to sell it. They are only allowed to sell it on the open market if Tesla refuses to buy the truck.

Those who breach the contract have been threatened with a $50,000 penalty or “the value received as consideration for the sale of transfer, whichever is greater,” meaning Tesla could come after every penny of profit a flipper makes. While Tesla hasn’t pursued Cybertruck flippers thus far, it’s conceivable that they might take action in the future. Conversely, they may choose not to enforce the policy altogether.

This specific Cybertruck remains entirely stock, and since Tesla doesn’t provide any paint options for it, it appears identical to every other standard Cybertruck on the road.

You can head over to Mecum’s website to view the auction listing and find more details about this Cybertruck that’s hitting the auction block.

Photos Mecum

This article was originally published by a www.carscoops.com . Read the Original article here. .

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