Tesla Wants You To Pay $50,000 To Sell Your Signature Model S Or X - Here's Why

The Tesla Model S and X are two of the most iconic cars ever produced by the American automaker. Regardless, Tesla's CEO, Elon Musk, said the automaker will sunset both the Model S and X by ending production and shifting focus to its Optimus humanoid robots. The Tesla Model S is one of the most powerful EVs on the market, with 1,020 horsepower on the high-end trim, while the Model X is loved for its smooth ride and futuristic features. 

Ending production of these two EVs is a monumental moment for both the company and its fans, as the Model S and X have been in production for over a decade. As such, it only makes sense that Tesla plans to do it in style by producing a limited number of farewell Signature Edition models of the Model S and X. However, if you were planning to get the Signature Edition of either model to sell it almost immediately after for quick profit, you could land in trouble with the company.

Electrek has reported that Tesla is making buyers of the Signature Edition Model S and X sign a "No Resale Agreement" that prohibits reselling the car within the first year of ownership. The agreement includes a penalty of either $50,000 in liquidated damages or the entire resale value of the car, depending on whichever is higher. Additionally, Tesla may also refuse to sell you its vehicles in the future if you breach the agreement. The "No Resale Agreement" is there because Tesla doesn't want people to get the models for the purpose of flipping.

To be fair, the company's move is understandable if you consider this from its standpoint, as it only plans to produce a total of 350 units (250 Model S and 100 Model X) and is only inviting a few Tesla owners to buy the models. But even if you don't plan to flip the car for profit, life happens, and you might be faced with unforeseen circumstances that force you to sell your Signature Edition Model S/X within the first year after delivery. In that case, Tesla's sale agreement outlines that you can do so, but only once you've received "written consent" from the company. 

However, the company gets first dibs on buying the car from you as the owner at the original price of $159,420 minus $0.25 for every mile driven, any wear and tear, and the amount of money needed to restore the vehicle to Tesla's used car standards. It's only when Tesla decides not to buy your car and gives you a written consent letter that you can go ahead and find a willing buyer. This isn't Tesla's first attempt to curb flipping. The company tried the same with the Cybertruck, threatening offenders with a $50,000 penalty, but ultimately dropped it. Whether the company enforces its sale agreement this time around remains to be seen.