FASTEN YOUR SEATBELTS

Pre-owned car sales platform kicks expansion into high gear

This West Coast used car sales platform is en route to Texas. Courtesy of TRED

This article originally appeared on InnovationMap and was written by Sarah Hobson.

A Seattle-based online car marketplace has all engines revving for Texas as the company plans its Lone Star State expansion.

TRED announced plans to expand into major Texas cities including, Houston, Dallas, Austin, and San Antonio. The startup will be live in Dallas at the end of this month, followed by the rest of the state in February.

"We very excited about Texas," Grant Feek, co-founder of Tred, tells InnovationMap.

Feek describes the company as a peer-to-peer marketplace for selling and buying used vehicles that offers sellers a thinner transaction margin and buyers a lower price point.

"[We're] combining the best of the dealer experience with the best of the market experience," said Feek.

Feek says that TRED offers the low chance of fraud of a dealership and the value of a private market.

"We are the only ones that allow you to work directly with your counter party," Feek tells InnovationMap. "There's literally no middle man."

TRED handles all the paperwork — from financing to warranties — so that buyers don't have to step foot in a DMV. The company posts their real-time performance online on the "How Tred Stacks Up" page to show how the company compares to other used car marketplaces.

"We built a platform for people that really want value," Feek says. "With the push of a button they can list it in 20 different places"

TRED services will launch in Houston next month, but the company will not have any initial employees on the ground in Texas, as Feek explains that TRED's model is focused on removing employee involvement from auto sales, which, according to Feek, is strategic. TRED is all about getting out of the way of peer-to-peer sales.

The company set their eyes on Houston due to the large population and car market. Feek tells InnovationMap that TRED will also expand into Florida in late 2019.

"It's no secret that a lot of people live in California, Texas, and Florida," says Feek, "we've always had our eyes on these states."

The idea for TRED came about in 2011. Feek says that many of his peers from Harvard, from which he received his MBA in 2009, had started their own companies and he had an interest in the automotive space. He thought that the process buying and selling cars should be simpler...

Continue reading on InnovationMap to find out about current partnerships.

Today, I was lucky enough to talk to the owner of the Leavine Family Racing team, Bob Levaine. We talked about how his team got their start back in 2011 and what kind of expectations Bob and his wife Sharon have after forming a new partnership with Joe Gibbs racing.

Q: So overall, You guys are still a relatively new team, starting back in 2011. Can you give us a little bit of a background about the beginning and what kind of drew you to NASCAR?

Leavaine: Well it has really been an interesting cycle, In the first five years we were just part-time and I got into it to help our first driver David Starr and of course with me being as competitive as I am, I really liked it so we brought in Scott Speed to drive for us our second year and then Michael McDowell for our first full time season and it has just kind of went from there.

Q: There were some new changes this year to NASCAR; one of the changes that many have been critical of has been the new qualifying format. Overall are you guys happy with some of the tweaks we saw NASCAR announced earlier this week?

Leavaine: What they did requires more oversight, but in the end It's still going to come down to the draft and if it comes down to the luck of the draw. I would prefer with what we were doing before with single car runs because a lot of these teams work too hard and spend a lot of money for qualifying and they don't get the lap they deserve.

Q: So there have been some major changes including moving the finale to ISM Raceway and moving Daytona to the final race of the regular season. Overall are there any changes you would like to see NASCAR make when it comes to scheduling?

Leavaine: If I was going to do anything with the schedule why not let them run the road course at Indy? I think that is really cool course and I think that a lot of the fans would come. It would be something different like with what we saw in Charlotte so that would be one of the things I would like to do. Also, I'd like to see them rotate their season finale and maybe make them bid on like they do the Super Bowl.

Q: And Finally I have to ask the question a lot of people have been wondering, with this new alliance with Toyota and Joe Gibbs Racing, is there a possibility of expansion at LFR in the near future?

Leavine: Yes. Absolutely. We were going to run two cars for this year with Daniel Suarez and a driver we selected but that didn't work out but overall, I am happy with how everything turned out. I am glad we got Matt DiBenedetto because he wanted to come here but yes we are working on expanding for 2020 right now. It's just a matter of sponsorship because we can put the people on it and we have the organization and Toyota Racing Development will support that so yes we are working to expand.

You can hear the whole interview below.

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