New online marketplace turbu aims to ‘reshape the landscape’
There’s a new online automotive marketplace on the scene.
Startup turbu.com said its platform aims to “reshape the landscape of peer-to-peer car buying and selling” with its “free” and “no upfront fee” approach that the company said will provide a “win-win situation” for buyers and sellers.
In a news release, turbu touted features such as sale and auction listings, no upfront fees, no vehicle restrictions, nationwide search and a dedicated car platform with an integrated messaging system.
“It has always been a hassle to list and search for cars in the peer-to-peer car market with the fees and region restrictions in existing platforms,” turbu co-founder and CEO Jacky Xie said. “Nobody wants to pay to sell anything, especially when it’s not guaranteed. We want buyers and sellers to get the most for their money and their car without the need to pay unnecessary fees.”
The company said buyers are guaranteed a greater variety of cars, often at a lower cost, and good auction deals by placing bids on the amount they value the car at, avoiding unnecessary markups from their local car dealership — saving an average of 20%.
For sellers, turbu allows sellers to post any vehicle for sale in two formats: a free 45-day sale listing or a seven-day auction listing with a $50 hold fee that’s only charged if the reserve price is met. Turbu said the hold fee for auctions “ensures commitment from both buyers and sellers, eliminating tire kickers and the need for extensive negotiations.”
Winning bidders are charged a fee of 3.49% of the winning bid.
Turbu said it is celebrating its launch by hosting $250 cash giveaways every two weeks. Users can earn additional entries by referring others to join the community.