TrueCar (TRUE) CEO Scott Painter says the future of car buying will look very different than in years past as Millennials look for ways to make the entire process more transparent. Painter said, ‘a shift towards using technology and information as sort of that key starting point.’ Right now, TrueCar works with one-third of car dealers in the U.S. and roughly four percent of consumers looking to buy a car use TrueCar. Buying a car has usually meant walking into a dealership with very little information about prices. Painter said, ‘The presumption is that if everyone knows how much everyone paid for a car, the presumption is that I’m somehow not going to be able to sell the car for more money.’ TheStreet’s Rhonda Schaffler has details from the Milken Global Conference in Los Angeles.
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