The Sticker Shock: Tesla Cybertruck Resale Value Revealed
Buying a Tesla Cybertruck is more than just purchasing a vehicle; it is a statement of futuristic intent. However, for some early adopters, that statement is coming with a hefty price tag in the form of depreciation. A recent viral story from owner Jeremy Judkins has sparked a heated debate across the EV community about the true cost of owning the most controversial truck on the road.
Judkins, who purchased a Foundation Series Tesla Cybertruck in April 2024 for approximately $100,000, recently shared his experience with the used car market. After putting 25,000 miles on the odometer, the trade-in value offered was a staggering $73,500. In a short span of time, the vehicle lost over a quarter of its original value, highlighting the steep depreciation curve often associated with high-end electric vehicles.
The “Golden Handcuffs”: Why He Refuses to Sell
Despite the financial loss, Judkins finds himself in a peculiar dilemma. While he is tempted to trade in the truck for something new, there is one feature keeping him “chained” to the vehicle: Full Self-Driving (FSD).
Unlike current Tesla buyers, Judkins purchased the FSD software outright. In the current market, Tesla has shifted its business model toward a subscription-based service. Here is why that matters:
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- Ownership vs. Subscription: New buyers must now pay a monthly fee (approximately $99/month) to access FSD capabilities.
- Price Protection: By owning the software, Judkins is immune to future price hikes that Tesla may implement for its monthly subscribers.
- Long-term Value: For those who prefer a one-time investment over an “eternal subscription,” legacy FSD ownership is an invaluable asset.
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The Market Shift: SaaS on Wheels
Tesla’s pivot to a subscription model for FSD is a strategic move that mirrors the Software as a Service (SaaS) industry. While this move has increased the number of users trying out the feature, it has created a tiered market for used Teslas.
According to reports from Tesla and automotive analysts, vehicles with pre-installed, purchased FSD can often command a higher premium in the private sale market compared to those without it. However, the gap is narrowing, as some buyers prefer the flexibility of a monthly payment over a high upfront cost for a used car.
Community Reaction: Masterpiece or “Dumpster”?
As expected, the Cybertruck remains a polarizing topic. Following Judkins’ revelation, social media was flooded with mixed reactions. While some owners of older Tesla models praised the value of owning FSD outright, critics were less forgiving. Some mocked the truck’s aesthetics, referring to it as a “dumpster,” while others questioned the safety and actual value of the FSD software.
Key Takeaways for Future EV Buyers
If you are considering entering the Electric Vehicle market in Canada or North America, keep these factors in mind:
- Depreciation is Real: High-tech vehicles often lose value faster than traditional internal combustion engines.
- Software Terms Matter: Always check whether features are owned or leased/subscribed, as this significantly impacts resale value.
- Market Volatility: The price of a Tesla can fluctuate based on Elon Musk’s latest policy shifts and software updates.
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Ultimately, the Tesla Cybertruck continues to be a gamble on the future. For Jeremy Judkins, the ability to drive hands-free without a monthly bill is worth the $26,500 loss. For others, the financial hit might be too steep a price to pay for the future.
