CarMax Offers $76,000 for Rare Green-Wrapped Cybertruck, Surprising Utah Owner

Key points

• The vehicle was a 2024 Tesla Cybertruck AWD with approximately 3,000 miles and a distinctive forest-green wrap.
• CarMax initially hesitated to process the appraisal because the truck was not registered in the visitor's name.
• The final offer was $76,000, which the owner found disappointing compared to rumored offers of up to $125,000.
• Kelley Blue Book currently estimates the trade-in value of a similar Cybertruck at $69,200 and private-party value at $75,750.
• The $76,000 offer exceeded the current private-party valuation, suggesting the market value has decreased since the appraisal.

Background

The Tesla Cybertruck has faced significant market volatility and criticism. Recent analysis suggests it may be the biggest US auto flop in history, with first-year sales of about 40,000 against a 250,000 target. Despite its unique performance capabilities and durability in crash tests, the vehicle's resale value has fluctuated, with newer, cheaper versions now available from Tesla.

Why it matters

This incident highlights the disconnect between consumer expectations and actual market valuations for high-profile electric vehicles. It underscores how rapidly used car values can shift, especially for niche models, and demonstrates that perceived rarity does not always translate to premium pricing in the secondary market.

What to watch

The used market for the Tesla Cybertruck will likely continue to adjust as more vehicles enter circulation and Tesla introduces lower-priced variants. Future appraisals may reflect the current downward trend in resale values, with trade-in values potentially falling below the $69,200 mark if market conditions worsen.