How to Buy a Car with Crypto

Cryptocurrency has revolutionized the way we think about money, offering a decentralized, digital-first alternative to traditional payment methods. It has grown beyond investments, having penetrated everyday transactions such as buying cars due to it being a modern, secure way to make these types of large purchases.

But how does buying a car with cryptocurrency work? And how might the process look different when buying an exotic car compared to a standard vehicle? At iLusso, we’re seeing these questions get asked more and more—we have even begun to handle an increasing amount of transactions with cryptocurrency, making us experts on the process. So let’s break it down!

Can You Buy a Car with Crypto?

Yes! Many car dealerships now accept this form of payment alongside traditional methods like USD, credit cards, and wire transfers. In fact, some brands like Tesla have tested accepting Bitcoin, while other platforms like BitCars specialize in selling vehicles using crypto wallets.

Most dealerships that accept cryptocurrency will work with payment processors such as BitPay, Coinbase Commerce, or direct wallet transfers to facilitate a secure, seamless transaction. For example, iLusso accepts all crypto using BitPay.

What Cryptocurrencies Can Be Used for Car Purchases?

Depending on the seller, you might be able to use popular digital currencies like:

• Bitcoin (BTC) – The original cryptocurrency, widely accepted.
• Ethereum (ETH) – Popular for smart contracts and payments.
• Litecoin (LTC) – A faster, more scalable alternative to BTC.
• Tether (USDT) and USD Coin (USDC) – Stablecoins tied to the US dollar, making transactions more predictable.
• Bitcoin Cash (BCH) – A form of Bitcoin with faster transactions.
• Dogecoin (DOGE) and Shiba Inu (SHIB) – Initially memes, now used for real transactions (even Elon Musk’s Tesla has accepted DOGE).
• Wrapped Bitcoin (WBTC) and XRP – Other options for crypto-savvy buyers.

How Does Buying a Car with Crypto Work?

Whether you’re eyeing a Tesla, BMW, Toyota, or Honda or aiming for a luxury sports car, using Bitcoin or other cryptocurrencies is similar to paying with a credit card. However, instead of swiping a card, you’ll complete the transaction using a crypto wallet and QR code. Here’s how:

Step 1: Find a Car Dealer That Accepts Crypto

Some traditional dealerships in California and other states allow crypto payments, while specialty dealers like BitCars focus exclusively on crypto-based sales.

Step 2: Confirm the Payment Platform

Some dealerships use third-party processors like BitPay Wallet or Coinbase Commerce, while others handle direct blockchain transfers.

Step 3: Transfer Crypto from Your Wallet

You’ll scan a QR code or manually enter the dealer’s wallet address. The transaction is processed on the blockchain, verified, and confirmed.

Step 4: Complete the Paperwork

Just like a USD purchase, you’ll need to sign documents, provide ID, and complete ownership transfer.

Buying an Exotic Car with Crypto: What’s Different?

While buying a standard car with cryptocurrency is becoming more common, purchasing an exotic car—like a Ferrari, Lamborghini, McLaren, Rolls-Royce, or Bugatti—comes with unique considerations.

Exotic Cars Hold Different Market Values

Unlike mass-produced vehicles, exotic luxury cars and hypercars don’t depreciate the same way. Prices fluctuate based on availability, demand, and exclusivity. Some dealerships may require stablecoins (USDT or USDC) instead of volatile assets like BTC or ETH to lock in pricing.

Crypto Transactions for High-Value Cars Require More Security

Since many exotic car purchases exceed six or seven figures, dealerships often use secure blockchain escrow services to ensure both parties are protected.

Exotic Car Dealers Are More Selective with Crypto Payments

Not every luxury dealership accepts cryptocurrency payments outright. Some allow partial crypto transactions but require the rest in USD or wire transfers. Always confirm before making a purchase.

Extra Fees And Taxes May Apply

Just like traditional car-buying experiences, crypto purchases may include taxes, licensing fees, and transaction costs, depending on your location.

Should You Buy a Car with Crypto?

Buying a car with Bitcoin or other digital assets can be a great option if:

• You have crypto holdings you want to spend instead of converting to USD.
• You want a fast and secure transaction using blockchain.
• You’re buying from a crypto-friendly car dealership that offers direct transfers.

However, consider the market volatility of crypto before using it for large purchases. If Bitcoin‘s price drops suddenly, your car purchase may cost you more than expected in the long run.

Looking to Buy Your Next Car with Crypto?

At iLusso, we know that crypto payments are the future. As one of the largest buyers of exotics in the United States, we specialize in these luxury vehicle brands: Aston Martin, Bentley, Bugatti, Ferrari, Lamborghini, Koenigsegg, Mercedes-Benz, Maserati MC20, McLaren, Pagani, Porsche, Rolls-Royce, Range Rover, and Audi R8.

Have one of these that you’re looking to sell so that you can buy your dream car with crypto? Talk to us first! We’ll take your current car off your hands for cash, but we also have options for cryptocurrency payments—just talk to one of our representatives.

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But wait! We also sell exotic cars and accept all major cryptocurrencies.

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