Vatorx2
Location: Atlanta, Georgia, United States United States
Founded in: 2017
Stage: Pre-launch
Number of employees: 1-5
Short URL: vator.co/trusted-sale
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Trusted Sale

Sell Your Car Faster and For the Most Money
Startup/business
Atlanta, Georgia, United States United States
https://trustedcarsale.com/

Private party car sales just became safer and more enticing thanks to @GetTrustedSale >> no more worrying about who you'll be meeting or carrying large sums of cash. Plus get financing & a waranty!

  • About
Company description

Trusted Sale allows you to sell any vehicle safely & easily, eliminating the need for cash/checks or lowball dealer trade-ins. Our platform is powered by leading anti-fraud and digital payment technology, to ensure successful and profitable transactions, every time.



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Team
Business model

While selling or buying a vehicle directly has its financial benefits, historically there are pitfalls as well. Traditionally, the private used vehicle buying/selling process takes six to eight weeks of time and presents both buyer and seller with a potential safety risk by the need to meet up with strangers to test drive and complete the transaction. Sellers also have to go through the arduous tasks of signing up for accounts, then creating and updating listings for their vehicle on popular private party listing sites, including Craigslist, AutoTrader, Cars.com, Facebook Marketplace and dozens more. In addition, buyers are left without the benefits of both finance and warranty options.

All of that goes away with Trusted Sale, which verifies the identity and contact information of both parties to reduce the risk associated with meeting an anonymous buyer or seller. Additionally, the platform manages the secure transfer of money from the buyer to the seller, creating a cashless transaction. Buyers can schedule meet-ups at designated safe zones, without fear of carrying large amounts of cash on their person. To add even more value, Trusted Sale offers the opportunity for buyers to finance the vehicle and to receive a warranty, providing true full service. What's more, sellers can create their vehicle listing quickly and easily on Trusted Sale which then automatically will post the vehicle for sale and manage the ad listing on popular marketplaces including Facebook Marketplace.

Trusted Sale's revenue will come from a small percentage of the sale value for each sale made through the platform, with additional revenue coming from the upsell of warranties and financing.

Competitive advantage

  There are no other platforms like this that currently exist. There are options to perform the transaction through Paypal but that doesn't diminish the risk of meeting a virtual stranger. Paypal is also notorious for being the vehicle of many Craigslist scams. Trusted Sale is the first all-in-one platform that verifies the identities of both parties, disseminates the listing to classified sites, manages the transaction, adds benefits such as a warranty and financing, and creates a bill of sale. Trusted Sale is the first platform to truly mirror the benefits of purchasing through a dealership and it takes only minutes to set up.

Carvana is the closest platform that we have to a competitor, currently, but our missions and purposes are vastly different. Carvana allows people to buy cars online. There is a convenience factor with both platforms but our platform is more focused on facilitating safe private party sales, while adding benefits normally reserved for dealerships. Carvana competes with dealerships moreso than they compete with us, currently.

Dealerships are also our competitors in some sense but our focus is really on people that are intent on private party sales. As more people recognize that they can obtain the same benefits in private party sales as through a dealership, we will likely begin to take marketshare from dealerships although they aren't a competitor in the initial stages of our go-to-market strategy.

The biggest competitor, currently, is the decision to do nothing. That is, the option to continue to operate as the consumer previously has. Our efforts have to change behaviors. We've seen, though, in our early efforts, that consumers are open to that.