Tesla is fining buyers who flip their car up to $70,000

Tesla Owners of the last copies of the Signature Edition will be penalized Model S liftback and Model X SUV in the US if they sell them within the first year of ownership, with buyers also risking being blacklisted from future purchases.

The US electric vehicle (EV) maker has announced it will build 350 Signature Edition vehicles to mark the end of global production of its Model S and Model X.

Based on the high-performance Plaid versions, 250 Model S Signature Editions are planned, with the Model X making up the rest.

Both are reportedly priced at US$159,420 ($222,111) before local costs and feature exclusive Garnet Red paint and gold accents inside and out.

First reported by No Tesla appTesla requires buyers to sign a “Signature Edition No Resale Agreement,” which prevents owners from selling their vehicles within 12 months of delivery.

With Daily Sparkz you can save thousands on a new car. Click Here to get a great deal.

The move is intended to prevent customers from making quick profits with the limited models.

If they want to sell within the first year, owners will have to pay Tesla $50,000 ($69,738) in “injunctive relief.” They must also give Tesla a right of first refusal and notify the automaker in writing if they intend to sell.

The agreement states that Tesla will deduct US$0.25 per mile (A$0.35 per 1.6km) the vehicle has traveled from the original purchase price and take wear and tear into account before determining a buyback price.

“If Tesla allows you to resell your vehicle but declines to purchase it, you may not resell your vehicle to a third party unless you have received written consent from Tesla,” the agreement states.