Cybertruck Owners Can Now Trade Up with Tesla’s New Program
The Cybertruck launched in December 2023, but enthusiasm faded quickly despite Elon Musk’s goal of producing 250,000 units per year. The long waitlist disappeared within months as buyers realized the truck fell far short of its promised range — and came with a price tag nearly double what many expected.
To make matters worse, early buyers who changed their minds found it nearly impossible to resell their vehicles as the used market collapsed — and Tesla initially offered no trade-in option for other models.
Now, Tesla has introduced a trade-in program for the Cybertruck — but owners are still taking a major financial hit.
One owner received an initial offer of $65,400 for a 2024 Foundation Series model with just 8,211 miles , while another was offered only $60,500 for the same version with 32,400 miles .
That’s well below the $99,990 sticker price of a brand-new Foundation Series truck — meaning the vehicle loses between 34% and 39% of its value within its first year on the road.
While new cars typically lose value quickly, many had expected the Cybertruck to hold up better — especially given the hype around its launch. If it truly were the “must-have” vehicle Musk promised, its resale value should have been far stronger.
