Can You Buy a Car with Bitcoin?

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Contributing Writer

Amy Fortune is a contributing writer for CarsDirect and lead writer/editor for AutoCreditExpress. She also contributes regularly to several other high-traffic blogs. Amy was born in North Carolina and grew up with an appreciation for NASCAR and everything automotive. Now based in the Motor City, she continues to be happily immersed in car culture and automotive finance.


, Contributing Writer - December 14, 2016

The answer to the question "Can you buy a car with Bitcoin?" is "yes." You can buy practically anything with Bitcoin. The real question here, however, is would you want to buy a car with Bitcoin? It probably depends on your reason for using Bitcoin in the first place. Many of those who use the crypto-currency do so because of the anonymity factor.

However, legal car ownership is anything but anonymous. You'll need to have the title transferred, pay applicable taxes and fees and sign up for insurance coverage. Your name will necessarily be associated with the vehicle in several different ways. So, why are you buying a car with Bitcoin in the first place?

Well, you may have purchased a few bitcoins a few years ago and recently realized that they have skyrocketed in value (one bitcoin is now worth around $780). And because you need to buy a car, it makes sense to use your Bitcoin wealth. Or, maybe you're a true believer in the de-centralized currency, and you want to use Bitcoin for as many purchases as possible. Either way, there are a few ways to buy a car with bitcoins.

How to Buy a Car with Bitcoin

Those who are new to Bitcoin may be amazed by how many major companies accept bitcoins as payment. Using only this digital currency, you can start a blog, have a sandwich from a well-known restaurant, join a dating site, book airline tickets, order flowers for your mom and buy a car.

In fact, online used-car marketplace, Beepi, established early on that it would accept Bitcoin payments. But, of course, now that Beepi has merged with Fair.com and laid off most of its employees, it is unclear what the future holds for the once prominent start-up.

However, according to a large handful of websites, there are other auto dealerships out there that will trade a vehicle for bitcoins. But if you have trouble finding such a dealer, there are other ways to purchase a car with Bitcoin.

Have your bitcoins converted to cash. This is probably one of the easiest ways to turn your bitcoins into a vehicle because it doesn’t require the seller to understand or appreciate this alternative currency. There are several web-based companies that will be happy to facilitate this conversion. Just make sure to do enough research to verify that the one you choose to work with is trustworthy.

Find an intermediary. There are also websites out there that specialize in being the "go between" for auto buyers with Bitcoin and individuals or dealers with cars to sell. Again, before trusting a company with any type of currency, check out their customer reviews and find out what others are saying about them in online forums and discussion groups.

Find a seller who wants to get started with Bitcoin. When it comes to Bitcoin, one of the most popular questions being asked is "How do I get bitcoins?" As it turns out, one of the simplest ways to obtain bitcoins is to accept them as payment for goods or services. So, while visiting one of those online forums or discussion groups, you might want to look for someone with a car to sell and a desire to get their hands on some bitcoins.

And, conversely, if you want to get into the Bitcoin game without having to spend a fortune on the tools necessary to "mine" the currency, trading a vehicle that you no longer need for bitcoins is an option. You can also purchase Bitcoin with cash dollars either online or through one of the Bitcoin ATMs sprinkled throughout the U.S.

Other ways to get bitcoins include earning them by taking online surveys or performing odd jobs. Or, if you're computer-savvy, some sites will allow you to swap programming or design work for bitcoins. If you're an "all or nothing" kind of person, there are apparently very progressive companies that are willing to pay entire salaries in Bitcoin.

An Easier Way to Buy a Car with an Auto Loan

If you need to purchase a new or used car, truck, van or SUV, and Bitcoin isn't really your thing, good, old-fashioned financing still works perfectly well. And, here at CarsDirect, we can help you get approved for an auto loan even if you have imperfect credit or no credit.

We're connected to a wide network of dealers and lenders, so we can make the buying process easier and faster. Speaking of fast, our 1-Step Auto Loan Application only takes about a minute to complete. There is also no charge for applying and no obligations attached. So, go ahead and get started today.

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, Contributing Writer

Amy Fortune is a contributing writer for CarsDirect and lead writer/editor for AutoCreditExpress. She also contributes regularly to several other high-traffic blogs. Amy was born in North Carolina and grew up with an appreciation for NASCAR and everything automotive. Now based in the Motor City, she continues to be happily immersed in car culture and automotive finance.


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