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Tesla Inc. is set to deliver the first model of its Cybertruck to customers this month and before the release, the company issued a warning. Elon Musk’s electric vehicle manufacturing company said it will sue buyers for $50,000 if they try to resell the truck within the first year of purchase.
What the Contract Says
This demand is said to be included in Tesla's terms and conditions for customers. The company added the stipulation under a new section called "For Cybertruck Only" in its Motor Vehicle Order Agreement contract, as per Business Insider.
"You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle's delivery date," the added rule for Tesla’s Cybertruck reads. "Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.”
Aside from the monetary damages, Tesla said that in the future, it will no longer sell any vehicles to customers who will resell.
Exception from the New Rule
Tesla indicated that it may allow the reselling of the Cybertruck provided that the customer has a good reason for it. Then again, it will be a buyback deal where the company will buy it from the customers at the original price.
However, for every mile driven, Tesla will subtract $0.25 per mile from the amount. If there are signs of wear and tear, the cost of repairs based on the company’s Used Vehicle Cosmetic and Mechanical Standards, will also be deducted from the buyback price. In case Tesla is not interested in buying the Cybertruck, the company may agree for the owner to sell it to others.
Meanwhile, as mentioned on Mashable Southeast Asia, Tesla added a new rule to make sure that its Cybertruck models will only belong to those who originally purchased them. If one wants to resell, they clearly have to wait for a year before they can do so.
Photo by: Alexander Shatov/Unsplash
