Buying cars with crypto

[Abiky]

I know it sounds crazy, but wouldn't it be great to just go to a dealership and buy a car with your crypto (particularly, Bitcoin)? Not sure how governments will react to this, especially if a large payment is made through a decentralized Blockchain network. And don't let me get started on the taxes.

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

[TastyChillySauce00]

Last time I see a car manufacturer accepting bitcoin is tesla and they discontinued the payment and still accept dogecoin. I personally don't really think people buy tesla using doge coin.

Like you said it'd be great, but since there's huge online shops accepting bitcoin and even restaurant. Maybe in just 2-3 years we gonna see car dealership starting to accept bitcoin to their system and actually that could happen faster.
Will be really waiting for it though.

[taufik123]

Between sure and unsure because in my country this is related to regulations and main payments still use Rupiah as the main payment.
Crypto is just a commodity tool and nothing more.

But for other countries it will probably have other regulations, such as El Salvador, which has already adopted Bitcoin.

Then do you remember with Tesla owned by Elon Musk, Tesla once accepted payments with DOGECOIN for the purchase of a tesla car,


https://www.tesla.com/support/dogecoin

It is not easy to implement payments with Bitcoin or other cryptos, because it requires research and adjustment to the economy of each country, how the impact and risks are.
And some also use Crypto Ecommerce to pay via Crypto Payment Gateway such as Coinbase Commerce, NOWPayments, B2BinPay etc.

[MAAManda]

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

I don't understand what you mean by large scale, but some big brands & dealers are already accepting payments using cryptocurrencies nowadays.

1. Ferrari (Car Brand)
Accepted crypto: Bitcoin (BTC), Ethereum (ETH), USDC (USDC)

2. BMW Dealerships, Bitcars, Ferris, Lamborghini Newport Beach, Post Oak Motors, Carriage Nissan & Stephen James (Dealer)
Accepted crypto: Various coins & tokens

3. Alki Motor Cars (Dealer)
Accepted crypto: Bitcoin (BTC) & Ethereum (ETH)

[Nwada001]

Depending on the country in question and how their government treats crypto, if they don't consider it to be a recognized payment option, then the dealer won't be allowed to accept such, and if it's recognized, then the tax report won't be a problem since they have to document all their income, and whatever means they use in paying can still be reported for tax if they want to unless they want to evade tax, and it's not usually good for business.

[Charles-Tim]

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

You can read what MAAManda posted, there are some cars that you can order from their company directly and buy with bitcoin or some other accepted coins.

Yes, in the future, more car companies and other companies will accept bitcoin and other coins from their customers to buy car or what the company is producing.

[Odohu]

I know it sounds crazy, but wouldn't it be great to just go to a dealership and buy a car with your crypto (particularly, Bitcoin)? Not sure how governments will react to this, especially if a large payment is made through a decentralized Blockchain network. And don't let me get started on the taxes.

This depends on the dealer which is if they will accept payment through Bitcoin. If they do, then government will not even know it was payment for a car since the transaction is P2P which was actually one of the beautiful features of Bitcoin. The seller can issue the receipt indicating that payment was made in full without indicating the means of payment since that is not even necessary to be included in the receipt. If we can get more people to accept payment in Bitcoin, it will be a win for all of use that love Bitcoin.

[livingfree]

I know it sounds crazy, but wouldn't it be great to just go to a dealership and buy a car with your crypto (particularly, Bitcoin)? Not sure how governments will react to this, especially if a large payment is made through a decentralized Blockchain network. And don't let me get started on the taxes.

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

This can happen in P2P trades but that would be depending on the merchant and the units they're selling.

I think that it's possible in the future that we'd see dealerships that have some payment acceptance for their cars using Bitcoin.

I'm not sure if one video that I've watched has allowed to accept payments in Solana in Dubai. Maybe it's just a content so I don't really know if that happened.

[gunhell16]

I know many car dealers now accept cryptocurrency as a payment option these days. From what I know, some of them are:

1. Lorbek Luxury Cars
2. Ducati
3. Taabo Imports
4. EarthMotorCars

Besides these, I think there are many others that already accept cryptocurrencies beyond just Bitcoin and the ones another member here mentioned.
But here in our country I'm not exactly so sure if some of the vehicle companies are doing the same here to accept bitcoin o cryptocurrency.

[MArsland]

I know it sounds crazy, but wouldn't it be great to just go to a dealership and buy a car with your crypto (particularly, Bitcoin)? Not sure how governments will react to this, especially if a large payment is made through a decentralized Blockchain network. And don't let me get started on the taxes.

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

How about this, I have a friend who owns a car dealership, and I propose to buy with bitcoin. But of course legally in our country it is not allowed because only fiat is legal to make transactions. Since he happens to be my friend and also invests in bitcoin so he doesn't mind accepting payment for the car with bitcoin directly sent to his wallet then I think in this case it is quite safe, right? 

[silpersurfer]

I know it sounds crazy, but wouldn't it be great to just go to a dealership and buy a car with your crypto (particularly, Bitcoin)? Not sure how governments will react to this, especially if a large payment is made through a decentralized Blockchain network. And don't let me get started on the taxes.

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

How about this, I have a friend who owns a car dealership, and I propose to buy with bitcoin. But of course legally in our country it is not allowed because only fiat is legal to make transactions. Since he happens to be my friend and also invests in bitcoin so he doesn't mind accepting payment for the car with bitcoin directly sent to his wallet then I think in this case it is quite safe, right? 

As long as the transaction is not known by the government or other people, because you will be reported if you do so and violate the law, the risk is quite large for you, my friend.

I heard that renting a vehicle in Bali using crypto as a payment method was caught by the police for violating the rules, and the perpetrator ended up in jail.
I don't think your friends would take that risk either, unless  you have a secret agreement.

[$crypto$]

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

It is possible that someday dealers will accept crypto payments especially bitcoin and there are already some dealers who accept it --- some users have posted which dealers accept crypto payments.
Famously, Tesla used to accept bitcoin payments but now it seems to be a thing of the past.

[Felicity_Tide]

~snip

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction?

I think a few dealers are already accepting it. Not just car dealers, but real estate Realtors and other business individuals who are ready to expand their payment options. Cryptocurrency as a means of payment is not a big deal, it is just another medium of payment, and there are people who are using and accepting it, though it's not that common. But there are chances that this payment option is going to be used by a lot of businesses, because of course, every business needs to evolve and adapt to current trends, otherwise, they might be left behind.

And as for stable coins, I'm not sure of where they stand because I feel people will use more of volatile assets than stable coins on items that are way more expensive. Stable coins position falls more within the purchases of little or basic items.