Are people really selling their Cybertrucks for $200k+ or is that all hype and are there ramifications?

[JBee]

Senseless commentary, it makes me wonder what kind of schools they run down under. Nothing I said would impact TSLA stock one iota.

I only answer reasonable questions. You have a very twisted view of what a Purchase and Sale Agreement means from a legal perspective and I can't change you. Maybe laws and principles are different in Australia, I don't know because I've never bothered with learning the legal system there, but I doubt it. And it doesn't matter because all these sales are taking place under U.S. laws and precedents.

It reminds me when you swore up and down that the stainless-steel panels on the Cybertruck couldn't possibly carry any load, because they were nowhere near the load path!

So what's your reason for propogating this FUD? Crazy pills? Same with exo discussion.

A person from down under, where there still might be an ounce of conventional logic, would want to know why you are so invested and motivated in making these wild and wacky assumptions and intentionally misleading people by throwing extra fear their way.

You are still rewording the clause text to match your arguments and adding elements that were never implied or stated. Why?

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[Cyber111]

Why do legal know-nothings keep making false claims without a shred of evidence to support them?

Oh, that's right, because there isn't any!

If you understood the three pillars of anti-trust law, The Sherman Act of 1890, the Federal Trade Commission Act of 1914, and the Clayton Act of 1914, you would know that none of them prevent selling items with the first right of refusal, no reselling clauses or anything similar to what's going on here. They are simply not applicable in any rational sense.

You are so right.

 

[CyberSleuth]

What's to say these trucks weren't all repossessed by lenders and are being sold for market value? Wouldn't that avoid the no resale clause?

 

[firsttruck]

What's to say these trucks weren't all repossessed by lenders and are being sold for market value? Wouldn't that avoid the no resale clause?

If they were repossessed it would also put a huge dent for years in the original Cybertruck buyers credit rating score and increase interest rate a lot if they are extended credit.

Would it really be worth it?

 

[NoMoGas]

I would bet that they will do something about it. Car companies frequently in force these provisions in their contracts. We are not free to violate written contracts willy-nilly without repercussions

 

[NoMoGas]

That's not how that works.

If you enter into a contract via lying, you are in breach of contract, which can be a criminal felony. Not to mention civil and contractual penalties.

I do not understand this thing where you defend liars with 'freedom'.

-Crissa

Breach of contract is not a crime. It is a civil matter. You could be forced to fork over $50,000 or whatever profit was made from the vehicle if you did not give tesla first crack at buying it back.

 

[malinecentral]

I would bet that they will do something about it. Car companies frequently in force these provisions in their contracts. We are not free to violate written contracts willy-nilly without repercussions

I wouldn’t say that they frequently enforce them. The highest profile case was John Cena. He bought the car and sold a few months later. Ford specifically sued him for liquid damages that included “loss of brand value, ambassador activity, and customer goodwill.”

He settled out of court for less than $70k and possibly made upwards of a million dollars on the deal as the car he paid Ford $460 for goes for between $1.2m and $1.5m on the open market.

It did not go to court and Ford allegedly didn’t even keep the money.

 

[Crissa]

Did anyone else who attended the live event get a copy of what was sent. Is there an end date? Do you have a digital copy? If so please message me.

Well, they can't hold you to hide what's already public knowledge. It was probably relating to certain parts of the factory and the ticketing process.

Breach of contract is not a crime. It is a civil matter. You could be forced to fork over $50,000 or whatever profit was made from the vehicle if you did not give tesla first crack at buying it back.

Breach of contract can be a crime. It is a civil issue and can be a crime.

Like I said, there's a guy who's up for half a billion dollars in fines and lost his ability to be an executive in a company - criminal punishments - for his offenses.

-Crissa

 

[C T Rick]

Well, they can't hold you to hide what's already public knowledge. It was probably relating to certain parts of the factory and the ticketing process.


Breach of contract can be a crime. It is a civil issue and can be a crime.

Like I said, there's a guy who's up for half a billion dollars in fines and lost his ability to be an executive in a company - criminal punishments - for his offenses.

-Crissa

It pretty much became public knowledge the second the people who attended and were live streaming as they walked into the lobby of the factory. Then continued into the factory. So what exactly did we sign On that non disclosure? Anyone else who attended curious what the terms were/ Are? Are they still in effect?

Sure, I have access to my original $100. Contract as it’s in my account from 4.5 years ago. My Deposit is nothing more than a spot in line. I can easily apply for a refund. But why, 10 cents a year over the last 4.5 years isn’t going to break anyone. No, I’m not loosing sleep over the non disclosure or the $100.

Rick

 

[NoMoGas]

I wouldn’t say that they frequently enforce them. The highest profile case was John Cena. He bought the car and sold a few months later. Ford specifically sued him for liquid damages that included “loss of brand value, ambassador activity, and customer goodwill.”

He settled out of court for less than $70k and possibly made upwards of a million dollars on the deal as the car he paid Ford $460 for goes for between $1.2m and $1.5m on the open market.

It did not go to court and Ford allegedly didn’t even keep the money.

Do you really think that's the only case? As a rule of thumb I do not recommend deliberately violating a written contract

 

[malinecentral]

Do you really think that's the only case? As a rule of thumb I do not recommend deliberately violating a written contract

I did not say it was the only case, I said it was the highest profile case. At this point there are multiple tens if not hundreds of people who have resold their trucks. Is Tesla going to sue them all? Would it be a good look for Tesla, whose stock is already down to also start suing their customers? For what? 50k. One bad news article and the company could lose billions.

 

[Late_Refustration]

These are following the same trajectory as early Rivians. Early reservation holders were able to pick up their trucks for roughly $60k after incentives, then turn around and flip them for double: https://carsandbids.com/auctions/3qqOLNya/2022-rivian-r1t-launch-edition

That one is a launch edition, similar to the foundation that tesla is now offering. The demand for vehicles was higher, demand for evs was higher and these were truly first EV trucks to make it to market.

fast forward to today, we have $100k trucks being offered at resale for twice msrp (if the ad is gone, it is a new cybertruck in Miami being offered for $199,999): https://www.cars.com/vehicledetail/b2494050-0ee2-4ebf-8ba3-44ac139f5dad?aff=share_other

I suspect within a year, they’ll be selling at about MSRP, well before the major ramp up.

 

[HaulingAss]

At this point there are multiple tens if not hundreds of people who have resold their trucks. Is Tesla going to sue them all? Would it be a good look for Tesla, whose stock is already down to also start suing their customers? For what? 50k. One bad news article and the company could lose billions.

There are not hundreds of Cybertrucks flipped yet.

There will be some bad optics whether they enforce some or all of the people who broke the contract or if they let people break the contract at will, with zero consequences. There is no free lunch here.

I recommend not finding out the hard way which path they decide.

Tesla will not be suing for the money, that is simply the leverage they would use to maintain themselves as the retailer of the product to the end user. That is their primary interest here. They will look at how bad the problem is after this first wave of sales and decide whether or not the problem will get out of hand if they do nothing.

Hint: It probably would, if they don't enforce at all.

 

[Broski]

That's not how that works.

If you enter into a contract via lying, you are in breach of contract, which can be a criminal felony. Not to mention civil and contractual penalties.

I do not understand this thing where you defend liars with 'freedom'.

-Crissa

How about the millions of people that put down a deposit many years ago for a spot in line only to get surpassed and new options they cannot afford coming in front of them?

If Tesla starts suing, a class action could reciprocate

 

[Broski]

One of the main problems in America is people have lost their moral values. The contact that is signed clearly states that you cannot resell it within a year.

But at the same time if Tesla is not going to enforce it then why bother sticking it in there in the first place.

What about the hundreds of millions of dollars in deposit funds collected by Tesla and not having a transparent place in line response for it?

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