Bitcoin a boon to auto dealers

Two stories from this week highlight Bitcoin’s unique ability to drive car sales.

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Bitcoin a boon to auto dealers

Two stories from this week highlight Bitcoin’s unique ability to drive car sales.

The first made headlines everywhere because it represented a marriage of two very sexy things: Cryptocurrencies and supercars.

A high-end car dealer in Costa Mesa, California, announced on its blog that it had sold its first Bitcoin-paid car. Lamborghini Newport Beach blogged on December 4 that a client had purchased a Tesla Model S Performance.

“An electronic currency was used to purchase fully electric vehicle,” the post noted.

Commenters on that post noted the company used BitPay to process the transaction and convert to USD. The car’s price in USD is just over $95,000.

The auto dealer is fully able to accept Bitcoin payment for other cars, too, which include some pretty nice 2014 Gallardos.

Elsewhere, in Kansas, the Overland Park Jeep Dodge Ram Chrysler dealership released a press release on December 5 noting that Bitcoin acceptance has greatly driven their own sales.

The Kansas City-area dealership has been featured in the Wall Street Journal and the Washington Post, among other outlets, for allowing customers to buy vehicles with Bitcoins. Sales are processed by Atlanta-based BitPay, and Bitcoins are exchanged for USD within 24 hours.

“The fact that I can use BitPay to receive a settlement in dollars makes it possible for me to accept Bitcoin in the first place”, owner Norman Vialle said. “If more dealers were aware of this, I'm sure they'd be accepting Bitcoin as well.”

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