Buying A Used Car Through An App: Can You Trust?

You’ve probably heard enough stories about the risks of buying a used car from private sellers.

Is the seller the real owner? Is the title legit? Is it a scam? If not, does the vehicle have hidden maintenance issues?

It is already hard to trust and that’s why several buyers turn to established dealerships to feel more confident about the final transaction.

However, Tred – a Seattle-based company – plans on tackling the traditional form of buying a used car through dealerships.

By rolling out services in key Florida locations – including Miami, Orlando, Jacksonville, Tampa, and St. Petersburg – the new service poses a major threat for conventional sellers.

Tred has no store locations, nor sales reps. Instead, the company handles interactions through its app or online (Tred.com).

Though the company remains committed to offer transparency and enhance the customer journey.

Grant Feek, Tred founder and CEO, commented:

There are many types of vehicle fraud. If a seller is selling a vehicle privately and the vehicle is not registered or titled in their name, then there are all kinds of ways they can bamboozle a buyer.”

A Modern Alternative To Buying A Car

To be part of the site as a seller, a vehicle first need to pass background check. Then the seller needs to submit few reports including a Carfax report.

In fact, those reports should identify the vehicle’s ownership history and VIN (vehicle identification number) information.

People selling vehicles that are no longer considered “new” under factory warranty should refer to a Tred partner for inspection.

Once a seller fulfills those requirements, the vehicle may be accepted for listing.

Then Tred charges $500 to a listed vehicle, but it is contingent to a successful sale. Otherwise, sellers must pay an initiation fee that ranges between $10 to $20 depending on the type of vehicle.

Upon performance, the company expects to replicate all the stages of transactions that commonly takes place at any dealership.

The company also emphasizes that transactions are secure and the paperwork is handled correctly.

Feek said:

When you release that vehicle, we can guarantee that money’s going to hit your account.”

While online fraudsters are increasingly target consumers, this company handles online transactions and improved systems to combat potential scammers.

At the same time, the company also offers users a great access to exposure, financing options, and convenience.

Feek concluded:

If the buyer decides, ‘hey, I like the car, I can do the price, ‘they can just pull out their phone. And they can pay for the vehicle right there.”

Like any other online company, consumers are benefiting from more choices and sophisticated processes that are changing the way we think about shopping.

Do you know of any other company that is revolutionizing the market? Please let us know in the comments below.

SEE ALSO: Looking For A Used Luxury Car? Here Are 4 Tips For Starters