Tesla’s long-awaited Cybertruck make production with the limited-edition “Foundation” series launches. But in a surprise twist, Cybertruck’s early buyers may not actually own their trucks, at least not right away.
Buried in the Foundation purchase agreements is an eye-popping clause barring all resales or transfers of ownership within one year of delivery. Violators face harsh penalties including injunction lawsuits or $50,000 liquidated damages claims. It’s an unprecedented restriction by Tesla – but will it stick to higher-volume Tri and Quad motor models or stay confined to the 1,000-unit Foundation fleet?
For now, multiple agreement copies from non-employee reservation holders confirm the policy’s inclusion. All are Midnight Silver dual-motor Foundation series trucks reserved within minutes of the 2019 unveiling event, as indicated by RN order numbers starting with 1127 or 1128, all of them live on TX or CA, Tesla’s invited them to configure a Foundation series Cybertruck.
While concerning for buyers expecting to “flip” their rare trucks for big profits shortly after acquiring them, Tesla’s reasoning is understandable. Preventing immediate resales discourages buyers purely seeking short-term financial gain instead of actually wanting to own Cybertruck itself. It rewards loyal fans holding the reservations for years through countless delays. Still, buyers feeling shackled by the year-long ownership mandate have cause for complaint.
Does this no-flipping clause represent a permanent new normal for all Cybertruck sales contracts, or a special limitation isolated to the inaugural Foundation fleet? And could clauses restricting ownership transfers face legal challenges down the road? At the Cybertruck’s launch, few expected its first owners wouldn’t truly own their vehicles. Yet Tesla still finds ways of defying expectations. Interested buyers may want to closely parse their purchase agreements before signing.