Can I buy a car with crypto?
Yes, you can buy a car with crypto. Some car dealerships and even manufacturers accept cryptocurrencies like Bitcoin and Ethereum, and there are dedicated digital automotive marketplaces that accept crypto payments too.
Where can I buy a car with crypto?
There are a few marketplaces where you can browse and purchase with crypto. The downside is often high transaction and fees, and a poor exchange rate.
Here at Prestige Cars Kent, you can deal with us directly. Browse our 300+ prestige used cars, or put us to the test to find your ideal car at no extra cost.
To buy a car with Bitcoin or other cryptocurrencies, you can choose from:
Buying from a dealership or manufacturer that accepts crypto
Buy from a private seller on an online automotive marketplace
Use crypto credit cards to finance your car purchase
Buy from manufacturers, which as of writing includes Ferrari, Lotus, BMW, and Lamborghini (depending on territory)
Naturally, luxury vehicle brands have been faster to adopt crypto as a payment method. Some are still weary, despite the likes of Elon Musk suggesting you could perhaps purchase a Tesla with Dogecoin in the future!
Will I be taxed for buying a car with crypto?
Potentially - yes. Spending crypto is generally seen as a disposal of an asset, and any profit from it would be subject to Capital Gains Tax. So, if you purchased Bitcoin at a lower price than the day you spent it, you’d have a capital gain and that gain would be taxable.
Using crypto to buy a car from Prestige Cars Kent
We’re always looking for ways to make the car buying process more convenient for our customers, and being proud of embracing technology, we were one of the UK’s first dealerships to accept crypto currency as a form of payment.
We offer highly competitive transaction fees for crypto payment transactions and have extensive experience. When getting in touch, just mention you’re looking to use crypto and our dedicated team will discuss your needs.