Do Car Dealerships Take Crypto?

Buying a car is one of the biggest purchases you will ever make, and it can be a stressful experience. If you’re looking for an alternative to cash or credit for your next vehicle purchase, then you’ll be happy to know that there are a few car dealerships that accept crypto as payment.

In this article, we’ll talk about how exactly buying a car with crypto works and why some people choose this method of payment over others. So sit back, relax, and read on!

Can I Buy A Car With Bitcoin Or Crypto?

The answer to this question is yes.

If you’re in the market for a new car, it’s important to know that some dealerships do accept crypto payments. But in order for them to do so, they must have a partnership with an automotive financing company that caters specifically to cryptocurrency users such as AutoCoinCars.

Because of the relative infancy of crypto-based payments, these companies are few and far between at present, but given the increasing popularity of digital currencies among consumers globally, it’s likely that more will follow suit as time goes on.

It’s also worth noting that some dealerships may only take payment in cryptocurrency if you buy one of their cars outright; otherwise, they’ll need traditional currency (i.e. pounds, dollars or euros). This can be advantageous if you’re looking to buy a car with cryptocurrency and pay in full. AutoCoinCars is a world-renowned crypto-car marketplace which provides an offramp solution for crypto customers and car dealerships.

How Does It Work?

The process of buying a car with cryptocurrency is relatively simple. Most dealerships don’t take crypto, but there are hundreds of dealers that will accept payment in BTC, ETH or other popular tokens through their partnership with AutoCoinCars. To make the purchase, you’ll need to go through the dealership’s checkout process as normal, but once it’s time to pay up, you would proceed to the AutoCoinCars website to complete some verification checks with them.

Once you are signed up you would then complete the cryptocurrency transaction with the crypto payment processor. AutoCoinCars would then safely convert the crypto and pay the dealership directly in the bank for you. This eliminates the risk of cryptocurrency’s volatility and fees for both the customer and the dealership.

Is Buying A Car With Crypto Similar To Buying A Car With Cash?

It’s true: you can use cryptocurrency to buy a car. But it’s not the same as using cash, for a few reasons.

First, although it may look like money and feel like currency, cryptocurrency is not widely accepted as legal tender other than in a few small countries such as El Salvador. That means if you’re buying something at an offline store with crypto and they don’t accept it, you might be out of luck, and there are no guarantees that they’ll take your digital payment either.

Second: depending on which type of car dealership you visit (used vs new) and what kind of vehicle(s) they sell (SUVs vs small sedans), there could be different fees associated with paying by cryptocurrency rather than cash or credit card. For example, some dealerships may charge extra for using crypto because they have to account for the volatility of cryptocurrency.

Saying this though, having a service you can use to buy a car with crypto such as AutoCoinCars makes it just as simple

Why Would I Use Crypto To Buy a Car?

You will save money!

No need to exchange currencies, pay credit card fees or pay for international transactions.

It is getting easier to use crypto as a digital currency than to convert it.

The number of places that accept cryptocurrency has grown steadily over the past several years, and now it’s easier than ever to spend your bitcoin at restaurants, hotels and even some car dealerships. In fact, paying with cryptocurrency often feels more seamless than paying with cash: You can make payments in seconds without having to wait for bills or coins to come back from the bank or ATM.

We have discussed the pros and cons of buying a car with cryptocurrency. While the technology is still in its infancy, there are several reasons why it may be worth your while to consider using crypto to buy a car.