Fair Holdings Completes $227 Million Acquisition of TrueCar with In The Car as Strategic Partner

SANTA MONICA, Calif., Jan. 21, 2026 — TrueCar, one of the most recognized and trusted automotive brands, has announced the completion of its sale in a take-private transaction with Fair Holdings, Inc., led by TrueCar Founder Scott Painter, with a group of strategic partners, investors and lenders.

The strategic partner group includes PenFed Credit Union, one of the nation's largest and most innovative credit unions; Zurich North America, a leading global multi-line insurer; AutoNation, one of the largest U.S. automotive retailers; Atlantic Coast Automotive, a leading dealer group; Impel AI, a leading automotive AI company; ID.me, a digital identity verification platform; CRIF, a global provider of credit bureau and risk management solutions; and In The Car, an embedded auto insurance platform.

The transaction, valued at $227 million, was approved by TrueCar stockholders at the Company's Special Meeting on December 23, 2025. As a result of the closing, TrueCar will no longer be publicly traded, and Painter will return as Chief Executive Officer.

"Clearly what we are driving is changing, with autonomous, connected, electric vehicles, and this transaction reflects a shared belief that how Americans access mobility is about to enter a similar transformation," said Painter. "TrueCar remains an important and highly relevant platform that touches nearly 10% of all U.S. car buyers."

The group of strategic partners, composed of lenders, insurers, dealers, and technology companies, brings partners aligned around integrating their products and services to support TrueCar's long-term vision. PenFed is expanding its direct auto-lending capabilities nationwide through the TrueCar platform, offering faster approvals, transparent pricing, guaranteed savings and a simplified digital experience to its members.

A core element of the next phase for TrueCar will be deep, collaborative partnerships with dealers, OEMs, and their affiliated financial services organizations, including captive finance providers and insurers. The company plans to build on its long-established relationships with more than 11,500 dealers nationwide.

Georg Bauer, an experienced automotive executive with a long track record across Mercedes, BMW, and Tesla, will serve as Chairman of TrueCar's parent company, Fair Holdings, Inc.

"Innovation works best when the ecosystem is aligned," said Mike Manley, Chief Executive Officer of AutoNation. "TrueCar's evolution shows how consumers, dealers, and technology can come together to create a more transparent and efficient automotive marketplace."

Read the Full Press Release

For complete details about this acquisition and quotes from all strategic partners, visit the official press release on PR Newswire: Fair Holdings Completes TrueCar Acquisition

About In The Car

In The Car is redefining how drivers secure auto insurance by embedding coverage directly into the moment of purchase. Powered by its insurance arm, Alset Insurance, the company delivers seamless, point-of-sale programs that eliminate friction and transform the ownership experience. By partnering with OEMs and dealerships nationwide, In The Car is modernizing insurance delivery and reshaping how consumers get on the road. For more information, please visit inthecar.com.

About TrueCar

TrueCar is a leading digital automotive platform that uses technology to help car buyers save time and money through a nationwide network of Certified Dealers. Founded in 2005 by Scott Painter, TrueCar was built on the belief that serving membership and affinity organizations central to the car-buying process enables a more valuable auto-buying experience. TrueCar powers auto-buying programs for over 250 leading brands, including Sam's Club, AAA, and more than 100 credit unions.