Tesla Is Changing Its Cybertruck Trade-In Policy

Late in 2023, Tesla delivered its first Cybertrucks. It might seem like another era, before the many-angled electric truck became a political flashpoint and the target of many withering comments and memes online; nonetheless, it was just a year and a half ago. This month, Tesla reached another milestone with the Cybertruck: according a new report, the automaker is now accepting Cybertrucks for trade-in.

As Electrek’s Fred Lambert pointed out, there are encouraging and discouraging elements to this decision on Tesla’s part, which represents a U-turn from the automaker’s previous policy. If you’re a Cybertruck owner looking to trade in your existing ride for something new, the fact that you can actually do this through Tesla now is a good thing. As for the bad news…well, that has to do with what you’re likely going to get from Tesla in that transaction.

Electrek notes that Tesla is offering $65,400 for a 2024 Cybertruck AWD Foundation Series that’s traveled 6,211 miles. That vehicle originally sold for $100,000, which puts the depreciation at 34.6%. As Lambert notes, that means that the Cybertruck has lost a proportion of its value that most pickups take three to four years to lose. And that’s just based on Tesla’s own offerings. In a thread on the forum Cybertruck Owners Club, the user who originally revealed that Tesla was accepting Cybertrucks also shared that Tesla was offering more than Carvana for trade-in.

Is Tesla Changing Its Cybertruck Pricing Strategy?

The rear-wheel drive Cybertruck is no longer on the automaker’s website

In 2024, reports from both WIRED and USA Today revealed that EVs were experiencing higher levels of depreciation than other vehicles. In an article for the former, Alistair Charlton pointed to a few culprits for this, including rapid advancements in battery technology. In other words, this isn’t just an issue speciifc to the Cybertruck — though the distinctive aesthetic of these pickups almost certainly magnifies a broader industry-wise phenomenon.