Tesla is now accepting Cybertruck trade-ins. 2 owners showed us how much their vehicles have depreciated.

• Tesla is now accepting Cybertruck trade-ins, showing owners a glimpse of its depreciation rate.

• Two owners shared their Cybertruck trade-in estimates, revealing a roughly 37% to 38% depreciation after a year.

• EV depreciation rates tend to be higher than other cars, but the Cybertruck’s appears to outpace rivals like the Rivian R1T.

Tesla’s Cybertruck launched with some asterisks.

Owners technically weren’t allowed to resell the vehicle for a year — if they did, Tesla said it could sue for damages and blacklist the owner from buying future Teslas. Tesla also didn’t offer Cybertruck trade-ins.

Now, more than a year and a half since the first Cybertrucks were delivered, the company is allowing owners to trade in the electric pickup for credit toward a new Tesla, offering a glimpse into its depreciation rate.

Two Cybertruck owners shared the estimated trade-in values that Tesla offered them after they requested a quote: one who owns the all-wheel drive model and the other who has a top-of-the-line Cyberbeast variant. Despite a difference in mileage of more than 10,000 miles, both vehicles showed a similar depreciation rate of around 37% to 38%.

The all-wheel-drive owner told BI he spent around $100,000 on the Cybertruck about a year ago, including add-ons. After driving 19,623 miles with the vehicle, his trade-in estimate came in at $63,100, a roughly 37% depreciation.

The Cyberbeast owner said he purchased the vehicle in September for around $118,000 plus tax, which took the total cost to roughly $127,000.

The owner received a trade-in estimate of $78,200, also representing around a 38% decrease in value in 8 months of ownership.

Tesla’s trade-in estimates are just that — estimates. Tesla notes in the fine print under the estimate that the value is “based on current market conditions and vehicle details,” and that the estimate could differ from the final offer. In other words, the final amount Tesla is willing to credit to the owner could end up being less. EV news website Electrek reported earlier on Tesla beginning to accept Cybertruck trade-ins.

Vehicles famously begin to depreciate as soon as owners drive them off the lot, but Tesla’s trade-in estimates give a glimpse into how the company values used Cybertrucks at a time when some car dealers have shared struggles to sell used models.

The trade-in estimates shared with BI suggest the Cybertruck has a higher depreciation rate than the average vehicle. Kelly Blue Book estimates that new cars depreciate about 30% on average over the first 2 years and lose an added 8% to 12% each year after that.