TRED is a used car marketplace for users to buy and sell cars. It was founded in 2011 and is headquartered in Seattle, Washington.
Where TRED improves on peer-to-peer selling sites is that it offers lower prices and helps with authentication and paperwork like title transfer, registration, taxes and fees. It also helps to facilitate any payments between buyer and seller and, in some cases, handles delivery.
Dealers can’t sell through TRED. They can buy wholesale cars in the partner instant offer program, but you will not see dealer-listed vehicles on TRED.
Keep reading our TRED review for pros and cons of working with this service.
What really sets TRED apart is its offer to let you independently sell your car and control the selling price, while giving you assurances that are normally only available through a dealership program.
Did we mention that this marketplace does an inspection? This combines the professional assurances of Carvana with the personal independence of Craigslist.
The TRED business model uses a thinner transaction margin because it facilitates car sales without having to pay for local real estate or salespeople.
The whole point is that when you sell through TRED, you get the highest price possible. At the same time, your buyer will be getting the lowest price possible. TRED even keeps a real-time tally updated with the last 60 days of information. On average, sellers make over 40 percent more than the Kelley Blue Book Trade-In value, and buyers pay an average of 28 percent less than the typical dealer list price.
So, whether you use the product to buy or sell a car, you will save money.
When you sell through TRED, what do you have to do?
When you sell a car through TRED, your email address is privacy protected, but your listing still goes to over twenty car sites. After it’s live, TRED will help you get your car inspected. Once inspected, you get an instant offer price from a TRED wholesale partner. If you accept, your listing will be closed and they will come to pick up your car. If not accepted, the listing goes on as usual.
The service makes it easy to schedule and conduct any test drive requests at a FedEx location. Sellers will get a TRED packet in the mail to help with test drives and paperwork.
When you sell through TRED, what does the company do for you?
TRED helps to ensure trust by doing an identity check of both the buyer and seller, as well as a vehicle history check, and vehicle condition check.
To be TRED-Verified:
Once uploaded, this information is encrypted for privacy.
TRED facilitates payments. This isn’t the case with several other marketplaces. This is super helpful because it adds another level of trust to the peer-to-peer sales process that isn’t always available.
You can buy your new car with an ACH or with a credit or debit card, or via financing through TRED or a third-party. When a seller accepts an offer, payment is collected by TRED. Funds are wired to the seller’s account.
Each payment is guaranteed, and TRED insures the transaction amount.
Then, TRED even does the paperwork for both the buyer and seller.
Consumers can sign up for a monthly report to track your car’s value and see how it changes, plus see what similar models are being actively sold for. It will include the dealer trade-in value, private party sales data, and the TRED suggested list price.
Currently, the TRED marketplace platform only facilitates sellers from the following areas:
Despite this, users can buy a car through TRED from anywhere in the United States and have it shipped to their home or office.
Hopefully, this platform will be more widely available for sellers soon within the next few years.
I booked a test drive on Tred and went to see the car. I finalised the deal with the seller only to get to know that Tred has decided to offer that car to someone else. After me spending so much time and hassle on the process, it seems like Tred is just a sellers platform. Buyers should avoid it.
Revolutionary concept allowing for secured private party transactions! Offers saving for seller and buyer by being a tech platform rather than a dealership (no facility costs, no salesmen, much less overhead and asset risk). I believe they offer fraud checks, free carfax, pre-purchase inspection and some add-on services like titles to make life easier for everyone. Wanted to get an estimate and potentially list a car, but it is not available in my state yet. But their customer support was great and I really hope they can expand. In brief, it is the Airbnb of car transactions and takes away the opaqueness and shadiness of dealerships.