September 5, 2023
As vehicle prices continue to climb, many buyers are searching for smarter, more flexible ways to afford their next car—and one of the fastest-growing solutions is cryptocurrency. Today, more consumers than ever want to buy car with crypto, leveraging digital assets to simplify payments, reduce financing costs, and avoid the hassle of traditional banking delays.
Kelley Blue Book reports that the average new vehicle price has exceeded $48,000, while the average used car is now above $28,000. At the same time, a growing portion of the population actively invests in cryptocurrency. According to PipSlay, nearly half of Millennials own crypto, along with sizeable percentages of Gen X and Gen Z.
For dealerships, this shift presents a major opportunity. Stores that make it easy for customers to buy car with crypto will attract a younger, tech-savvy demographic that prefers digital transactions and alternative payment methods. Below, we explore the three most common ways people use cryptocurrency to purchase vehicles—and why dealers should prepare now.
One of the simplest ways to buy car with crypto is paying the dealership directly in digital currency. A 2021 Experian report found that roughly 19% of vehicle sales are completed with cash. If more dealerships accepted Bitcoin, Ethereum, or stablecoins, that number could easily grow.
According to the CNBC Millionaire Survey, wealthy Millennials hold over 25% of their net worth in crypto. This means many buyers prefer using digital assets for large purchases, especially when they experience gains and want to liquidate conveniently.
A dealer shared a case in which a customer wanted to buy two cars using Bitcoin—one for each of his children. When the dealership said they didn’t accept crypto, the buyer left. He didn’t want to sell BTC, wait for conversion to USD, transfer it to a bank, and then schedule another transfer. He wanted a simple, seamless transaction.
If the dealership had allowed him to buy car with crypto, they would have closed two sales that day.
As crypto values recover and adoption increases, more buyers will expect fast, on-site crypto payment options. Forward-thinking dealerships that partner with third-party processors (who convert crypto to USD instantly) can eliminate volatility risk while offering customers a modern payment method.
Many consumers don’t want to liquidate their digital assets completely, but they’re open to using part of it for a down payment. Redfin reports that 13% of first-time homebuyers sold cryptocurrency to afford a down payment—and similar behavior is emerging among car buyers.
Many people view cryptocurrency as a long-term investment. Rather than selling everything, they prefer using only a portion of their holdings to reduce their initial cost. This also helps buyers who:
A dealership offering an option to buy car with crypto—even partially—can attract buyers who otherwise wouldn’t move forward with a purchase.
Instead of selling their digital assets, some buyers use crypto as collateral for a loan. This gives dealerships a guaranteed down payment while allowing the buyer to keep their cryptocurrency invested. It’s a win-win for both sides.
As car prices increase and economic uncertainty grows, many consumers—especially Millennials and Gen Z—are searching for more flexible financing options. Many of these buyers understand cryptocurrencies deeply and prefer financing solutions tied to their digital assets.
A crypto-backed loan allows buyers to use their cryptocurrency as collateral instead of liquidating it. This gives dealerships access to customers who:
These loans can reduce interest rates by as much as two percentage points, making them highly attractive to buyers who want to buy car with crypto without selling their portfolio.
Dealerships will soon encounter more buyers who can’t get approved for traditional loans. By offering crypto-powered financing insights or partnering with fintech lenders, stores can close more deals and tap into a rapidly growing market.
A Deloitte study revealed that 75% of U.S. retailers plan to accept crypto payments within two years. Most won’t hold the asset; they simply convert it instantly into fiat currency to avoid volatility. This model eliminates financial risk while satisfying strong consumer demand.
Customers want convenience. They want speed. And many want the ability to buy car with crypto without unnecessary friction.
Dealerships that adopt crypto-friendly systems today will:
Cryptocurrency is not a passing trend—it is deeply integrated into the financial lives of Millennials and younger generations. As digital assets gain mainstream acceptance, more consumers will expect dealerships to offer ways to buy car with crypto, whether through direct payments, down payments, or crypto-backed financing.
Forward-thinking dealerships that adopt these methods now will position themselves as market leaders and capture a fast-growing demographic ready to spend.
