The Crazy, Confused World Of Used Cybertruck Pricing (Update)

I’m still trying to wrap my head around the used Cybertruck market. Dealers aren’t helping.

I asked four dealers in Los Angeles — a red hot market for Cybertrucks — about pricing and only one gave me a semi-rational answer. (This is an update to a similar story I wrote in October.)

Backdrop: Tesla delivered the first Cybertrucks at the end of last year, albeit at a lavish price of $100,000 for the Foundation Series. The lucky few who got the initial deliveries — and were willing to pay a premium for the Foundation Series — were able to flip low-mileage CTs at inflated prices. Asking prices went as high as $200,000 in the February-March timeframe, according to CarGurus’ Used Tesla Cybertruck pricing trends page.

That was then. The Cybertruck market is a very different animal now. Today, Tesla is selling new AWD CTs for $79,990 with December availability so logic would dictate that used AWD Cybertrucks would begin to fall below new CT prices. But that doesn’t seem to be happening.

Dealer #1: ok, not completely crazy

The most rational (not rational to me, however) used pricing argument was made by a dealer selling a Foundation Series Cybertruck for just under $92,000 with almost 8,000 miles. Yes, that is below the original AWD Foundation Series CT, which sold for $100K with Full Self Driving standard. So, that might begin to make some sense to the uninitiated. But step back and take a longer look and something’s off.

A brand new AWD CT from Tesla is $79,990. Throw in FSD ($8,000) and you get to around $88,000. (Or just lop off $8,000 and subscribe to FSD for $99/month and that gets you back down to $79,990.) So, why pay $92,000 for a used CT Foundation Series with 8,000 miles over a new AWD CT with FSD direct from Tesla? I’m still waiting for an answer.

(Note that the Foundation Series does come with some other extras like a Foundation Series badge and the Powershare Home Backup capability. And you get bragging rights for owning a Foundation CT.)

Dealer #2: hmm…

This dealer was selling a used AWD CT (non-Foundation Series) for over $114,000. The best part of the deal was the mileage: under 600 miles. So, it’s virtually new. But that doesn’t mean it makes sense. I still don’t understand what you’re getting from a $114,000 CT that you can’t get from a $79,990 AWD CT from Tesla. I made that exact argument to the salesperson and his response was that the value is set by the market. (I am waiting for a call-back. But not holding my breath.)

Dealer #3: maybe I’m missing something

This was another AWD Cybertruck (non-Foundation Series) with low mileage (400 miles). But the price is a deal breaker: almost $100,000. Wait, am I missing something?

Dealer #4: “You can get it today”

This dealer’s argument is that “you can get it today.” So, why wait a few weeks to buy one from Tesla for $79,990 when you get theirs for about $104,000 right now? Oh, I forgot to mention it has extremely low mileage (below 5oo miles) so it is virtually new. You sold now?

Upshot:

I got the impression that dealers who are still selling used CTs at a premium will stick to the price as long as they have willing buyers and as long the used market keeps dictating those values, however crazy.