New way to buy and sell used cars comes to Houston

HOUSTON, Texas (KTRK) -- If you've been in the market for a previously owned car, but you don't want to deal with pressures of a used car salesman, a new online marketplace may be for you.

It's called TRED and it launches Friday in Houston. They are making it safer and easier than ever to buy a used car.

Purchasing a used car can be stressful and if you choose to buy from a private seller, it can also dangerous.

"If you are to buy or sell a car on a private market, there are pros and cons. You're likely to get a good value, but there's a chance you can get defrauded," said Grant Feek, CEO of TRED.

Feek says that's where their services can save you a lot of headaches and money.

"We save sellers an average of about $4,000 versus what'd they get trading into a dealership. We help the buyer pay an average $5,000 to $6,000 less than asking price of the dealership," said Feek.

As a seller, you post your vehicle on and with a click of a button your vehicle is listed on 20 other major websites. Buyers find your car and TRED connects the both of you.

Everything is done through your mobile phone or online. TRED guarantees the vehicle is available legally for purchase.

"We go through lots of protocol to ensure that the vehicle is registered and titled in that person's name," said Feek.

When you're ready to buy, Feek says you'll meet at a pre-determined location, which is usually a Fed-Ex, to get your car. Payment is all done through the website, so no cash is involved.

"The important thing is you will never have to visit the DMV, no waiting in line. All you do is put it in the phone. Your tax, title, and license are collected by us. We process it and it all gets mailed to you. You're very safe," said Feek.

As a seller, you do pay a $500 fee at closing for using TRED, but you're getting the private market value in turn saving you hundreds.

You can download the TRED app on IOS or Android or visit the website.
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