Can you buy a car with crypto?
Introduction
Trillions of dollars in value have been amassed across cryptocurrency networks, and holders of these digital assets are looking for ways to spend that newfound wealth. Car dealerships—especially in the luxury sector—are taking notice and making it easier than ever to accept crypto as payment.
One of the earliest documented crypto-to-car purchases occurred in 2018, when a Bitcoin investor bought a Lamborghini for $115,000 worth of BTC. Since then, Post Oak Motor Cars has reported selling 17 luxury vehicles—including Bentleys and Rolls-Royces—through crypto transactions. Their website lists instructions for how to pay in crypto for your next car.
What is cryptocurrency?
Cryptocurrency is a digital asset stored on a decentralized ledger known as a blockchain. Unlike traditional money, which sits in centralized banks, crypto is distributed across a network of computers worldwide. This decentralized nature was made possible by blockchain technology, introduced over 15 years ago. The first and most well-known blockchain is Bitcoin.
Bitcoin's value has skyrocketed over the years, reaching over $100,000 in 2024, though its volatility remains a key characteristic. Ethereum, another major cryptocurrency, follows a similar pattern of fluctuating value. To address the instability of these assets, the crypto space introduced stablecoins—digital currencies designed to maintain a 1:1 peg with the U.S. dollar. Examples include USDC (by Circle), USDT (by Tether), and PYUSD (by PayPal). These stablecoins provide a reliable option for everyday transactions, such as buying a car.
Why use cryptocurrency to buy a car?
Consumers naturally want to spend with the assets they hold. As of 2024, global cryptocurrency ownership surpassed 560 million users—approximately 6.8% of the world’s population. This marks a major increase from 420 million in 2023, fueled by greater access and institutional support.
Notably, over 172,000 individuals now hold more than $1 million in crypto, with 85,400 of those holding that amount in Bitcoin alone. This growth in crypto wealth is creating a demand for real-world spending options, like vehicles.
On top of that, paying directly in crypto can be significantly easier than converting to fiat, wiring funds, and navigating the traditional banking systems. Buyers appreciate a streamlined checkout, and crypto can make that happen. When looking at luxury car purchases, some buyers will be attempting to buy a car overseas. Dealing with international wires can be a major headache. Stablecoins and other crypto currencies offer a much more streamlined way to pay allowing for funds to be instantly available, rather than locked up in multi-day wire transfers.
So where can you buy cars with cryptocurrency?
Several car companies and dealerships accept cryptocurrency as payment for vehicles. One of the first dealerships to begin widely accepting cryptocurrency was West Mitsubishi in Orland, California, which began accepting Bitcoin and Dogecoin in February 2021. This move preceded Tesla’s short-lived Bitcoin acceptance trial (March 2021–May 2021) and marked a significant milestone in automotive retail.
Since then, many notable brands and dealerships have moved to accepting crypto.
Some notable car brands include:
Lamborghini: Select Lamborghini dealerships, such as Lamborghini Newport Beach in California, accept Bitcoin for their luxury supercars.
Ferrari: Ferrari accepts Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) in the U.S., with plans to expand to Europe.
Porsche: Some Porsche dealerships allow crypto payments for models like the Porsche 911 and Taycan.
Bentley: Bentley dealerships such as Post Oak Motor Cars in Texas accept cryptocurrency for models like the Bentayga and Continental GT.
Rolls-Royce: Rolls-Royce dealers, including Post Oak Motor Cars, accept Bitcoin payments.
Tesla: While Tesla has fluctuated on accepting cryptocurrency directly, some resellers and third-party luxury dealers still accept crypto payments for Tesla models.
Honda: Honda accepts Bitcoin, Ethereum, Ripple, Dogecoin, and other cryptocurrencies for vehicle purchases.
If you’re in the market for a new vehicle, here are some of the specific dealerships that accept crypto:
BMW of Delray Beach (Florida): Specializes in BMW vehicles and accepts Bitcoin.
Post Oak Motor Cars (Texas): Offers luxury brands like Bentley, Bugatti, Rolls-Royce, and Karma with Bitcoin payment options.
Ferris Cars (South Africa): Sells Ferrari and Porsche models while accepting Bitcoin, Litecoin, and Tether.
Edmark Toyota (Idaho): Accepts major cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, and others for new or used Toyota vehicles.
Carriage Auto Group (Georgia & Alabama): Kia dealer accepting Bitcoin payments through third-party processors
Reed Jeep Chrysler Dodge RAM (Kansas): Accepts Bitcoin for Jeep and RAM vehicles.
Online Platforms like Crypto Emporium also offer a wide range of new and pre-owned vehicles from multiple brands for purchase using cryptocurrencies like Bitcoin and Ethereum.
How does the process of buying a car with cryptocurrency work?
Buying a car with cryptocurrency is surprisingly straightforward. First, choose the car you want. The dealership will then generate an invoice, often embedded with a crypto payment link. Companies like Loop Crypto specialize in this step around crypto invoicing, offering smart payment links that ensure the buyer sends the correct token, on the correct network, to the correct wallet address—eliminating common user errors.
Once the invoice is received, the buyer uses a crypto wallet like MetaMask or Coinbase Wallet to make the payment. The transaction is then confirmed on-chain, with platforms like Loop automating the confirmation and notifying both buyer and seller. The result? A fast, frictionless experience with no need for bank transfers, wires, or fiat conversions.
In addition to paying in full for your car upfront, we are also seeing crypto-backed loans becoming an option as well. Let’s say you have $100k worth of Bitcoin, but you do not want to liquidate that position to purchase your car. Some companies are beginning to offer Bitcoin-backed loans that will provide you with cash to make the car purchase with the Bitcoin held as collateral. This model is becoming popular not only in vehicle purchases but also for home purchases. As more and more individuals hold significant portions of their wealth in crypto, large asset sellers (like car dealers and real estate sellers) need to accommodate this new form of wealth.
Additional Considerations
Before completing a crypto vehicle purchase, there are a few key considerations to keep in mind.
Taxes: If your crypto has appreciated in value, converting it to make a purchase may trigger capital gains taxes. However, using stablecoins like USDC can reduce or avoid these tax implications, as their value remains fixed.
Volatility: Cryptocurrency prices can fluctuate significantly within minutes. Using stablecoins or completing the transaction quickly helps mitigate this risk. In addition, consider the potential long-term value of your crypto assets. If you believe cryptocurrencies like Bitcoin and Ethereum will appreciate significantly, you may want to use stablecoins instead for a purchase.
Security: Always use reputable wallets and processors, and ensure all parties are compliant with Anti-Money Laundering (AML) regulations. Trusted platforms like Loop Crypto are built with these safeguards in mind, adding security and compliance to every transaction.
How can car dealers accept stablecoins and crypto for payment?
Loop Crypto offers a complete crypto payment gateway for car dealerships looking to embrace digital asset payments. Dealerships can create tailored payment links that specify the networks and tokens they want to accept payment on. Settlement can be made in crypto or converted directly into fiat for deposit into a bank account.
Loop also integrates with major invoicing and accounting platforms like QuickBooks, Xero, and Stripe, making crypto payments part of your existing workflow. For dealership websites, Loop’s drop-in payment component allows for seamless checkout experiences with minimal setup.
Are you ready to accept or spend crypto on your next vehicle?
Cryptocurrency is no longer a niche asset—it’s a global financial force. Whether you’re a buyer looking to use your crypto wealth on a dream car or a dealership ready to tap into this fast-growing market, the tools are already here.
Loop Crypto makes it simple, safe, and seamless to transact in digital currencies. Reach out to our team today to learn how you can drive into the future of finance.
FAQ
Can I really buy a car with cryptocurrency?
Yes! Many dealerships around the world now accept cryptocurrency as payment for vehicles, including luxury brands like Lamborghini, Ferrari, Bentley, and even mainstream options like Toyota and Jeep. The process is secure, fast, and easy with platforms like Loop Crypto facilitating the payment.
What cryptocurrencies can I use to buy a car?
Most dealerships accept major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Many also accept stablecoins like USDC, USDT, and PYUSD, which are pegged to the U.S. dollar for price stability. Using Loop Crypto, you can select from a wide range of supported tokens and networks.
How do I know I'm sending crypto to the right place?
When a dealership uses Loop, you’ll receive a secure, smart payment link that ensures your payment is routed to the correct wallet address on the correct network. This helps prevent costly user errors and ensures the transaction is completed safely.
What if my crypto changes in value during the transaction?
Cryptocurrency is known for volatility. That’s why many buyers choose to use stablecoins like USDC, which remain pegged to 1 USD. Loop also helps speed up the transaction process so payments are completed quickly, reducing the risk of price fluctuation during checkout.
Do I have to pay taxes if I use crypto to buy a car?
If your cryptocurrency has increased in value since you acquired it, you may be liable for capital gains taxes when you use it for a purchase. However, using stablecoins or recently acquired crypto may help minimize or avoid these tax implications. Always consult a tax professional for personalized advice.
Is it legal to buy a car with crypto?
Yes, buying a car with cryptocurrency is legal in many countries, including the U.S., as long as the dealership accepts it and follows proper AML (Anti-Money Laundering) and KYC (Know Your Customer) procedures. Loop ensures compliance by providing secure, trackable, and regulated crypto payment infrastructure.
How can my dealership start accepting crypto?
It’s easy. Loop Crypto offers a complete payment solution for dealerships. You can create custom payment links, settle in crypto or fiat, and even integrate crypto payments directly into your website’s checkout. Loop also connects with platforms like QuickBooks, Xero, and Stripe for smooth invoicing and accounting.
Can I still get financing if I pay with crypto?
In most cases, crypto purchases are treated as cash payments, meaning they don’t typically involve financing. However, some platforms or services may allow you to use crypto-backed loans. Check with your dealership or financial advisor for options.
How long does a crypto transaction take?
Most crypto transactions are completed within a few minutes. With Loop, both the dealership and the buyer are notified instantly once the transaction is confirmed on-chain, so there’s no guesswork or waiting around.
What makes Loop Crypto different?
Loop is built specifically for real-world payments like auto purchases. We eliminate the friction and risk associated with sending crypto by mistake. Our smart payment links, network, and token controls, real-time confirmations, and accounting integrations make crypto payments smooth and secure for both the buyer and the dealership.
Can I buy a car with cryptocurrency?
Yes, there are multiple automakers and dealerships that allow for the purchase of cars with cryptocurrency. Refer to the article above to see some examples.
Can I buy a car with stablecoins?
Yes, there are multiple automakers and dealerships that allow for the purchase of cars with stablecoins. Refer to the article above to see some examples. Stablecoins can be a great option for purchasing a car as their value does not fluctuate. They offer speed, low fees, and convenience, making it simple to purchase a car anywhere in the world.
Can I buy a car with Eth?
Yes, you can buy a car with Ethereum (ETH) and other cryptocurrencies. Many dealerships, online platforms, and marketplaces now accept crypto as a payment method. Platforms like Crypto Emporium allow you to browse and purchase cars using Ethereum and other cryptocurrencies. They work with reputable dealers globally and offer live pricing for crypto transactions. Buying a car with Ethereum is increasingly common, especially for luxury vehicles, offering privacy, speed, and global accessibility.
Can I buy a car with Sol?
Yes, you can buy a car with Solana (SOL) and other cryptocurrencies. Many dealerships, online platforms, and marketplaces now accept crypto as a payment method.
Can I buy a car with BTC?
Yes, you can buy a car with Bitcoin (BTC) and other cryptocurrencies. Many dealerships, online platforms, and marketplaces now accept crypto as a payment method.
