Tesla’s Cybertruck hit the market with hype, spectacle, and more than a few strings attached. Touted as a futuristic, game-changing electric pickup, it was wrapped in exclusivity. Buyers initially faced resale restrictions, potential legal threats, and no trade-in options. But fast forward a year and a half, and reality has sunk in. Tesla is now quietly accepting Cybertruck trade-ins, and the values attached to these offers are revealing more than the automaker may have intended. Tesla’s own trade-in quotes suggest the Cybertruck’s shine is wearing off quickly.
Tesla’s early policies around the Cybertruck were unusually strict. Buyers weren’t permitted to resell their vehicles within the first year, and doing so could get them sued or blacklisted from purchasing future Teslas. There were also no trade-in options, a move that, at the time, suggested a belief that the truck would hold extraordinary value. Now, the tide has turned.
According to quotes shared with Business Insider, two Cybertruck owners one driving the all-wheel-drive version and another owning the top-tier “Cyberbeast” received trade-in offers from Tesla reflecting around 37–38% depreciation within just a year or less of ownership.
One owner who bought a Cybertruck for approximately $100,000, including add-ons, received a trade-in offer of $63,100 after nearly 20,000 miles. That’s about a 37% drop in value. Another owner, who paid around $127,000 (after taxes) for the Cyberbeast variant, was offered $78,200, marking a 38% depreciation after just eight months.
Kelley Blue Book suggests new cars typically depreciate by 30% over two years, followed by an annual drop of 8–12%. EVs, however, often fare worse due to tech obsolescence and market saturation. A recent iSeeCars study found that EVs depreciate by 58.8% over five years, far more than hybrids and trucks, which hold value better.
But even compared to similar models like Rivian’s R1T, which depreciated only 29% over two years, the Cybertruck appears to be underperforming. Not all Teslas share the same fate: while the Model S depreciates heavily (65.2% over five years), the Model 3 holds up better, with a 55.9% depreciation — the best among EVs, according to the same study.
Tesla notes that its trade-in estimates are not final offers and depend on “market conditions and vehicle details,” meaning the final amount could be lower. Still, these numbers shed light on Tesla’s internal valuation of the Cybertruck in a volatile market.
Beyond economics, the Cybertruck’s brand image has taken a hit. Elon Musk’s political entanglements, particularly his role in the controversial White House DOGE office, have stirred public backlash. Some Cybertruck owners have faced harassment and even vandalism. One owner told BI he returned his vehicle after just a short time, citing concerns over his kids being bullied for owning it.
Despite Musk’s claims of over 1 million reservations, a March recall filing revealed that fewer than 50,000 Cybertrucks had been delivered. Tesla has since scaled back production targets, further highlighting the gap between expectation and reality.
