FI showroom red and grey logo
MenuMENU
SearchSEARCH

Italian Carmaker Accepts Cryptocurrecies

Ferrari adds option in the US and plans to in Europe, other areas where the alternative funds can be used.

October 16, 2023
Italian Carmaker Accepts Cryptocurrecies

The payment processor Ferrari is using in the U.S. will convert the payments into traditional currency for dealers, shielding them from crypto price swings.

IMAGE: Pexels/Alexander 99

1 min to read


Ferrari is accepting cryptocurrency as payment for its models in the U.S. market and plans to start offering that option in Europe, according to a Reuters report.

Cryptocurrency hasn’t gained wide acceptance due to digital currencies’ volatility, inconsistent regulation of them, and the high energy consumption needed to power the computers behind the currencies, the news agency pointed out.

Ad Loading...

Some Ferrari customers have requested the option to use it in their vehicle purchases, though, and Ferrari has granted what may be a first in the auto retail industry. After it introduces the payment option in Europe, it plans to expand it to other regions where cryptocurrencies can be accepted by law, Reuters said.

The concession accommodates a wealthy clientele who can afford sticker prices ranging up to more than $2 million. Ferrari won’t charge an additional fee for payments in cryptocurrencies.

The luxury automaker’s marketing head told Reuters that most of its U.S. dealers have arranged to accept the payments or are close to doing so and that he’s “confident” the remaining ones will follow.

Reuters indicated the payment processor Ferrari is using in the U.S., BitPay, will convert the payments into traditional currency for dealers, shielding them from crypto price swings.

LEARN MORE: CarNow and Cion Digital Partner to Provide Consumers Option to Purchase and Finance Cars With Crypto

Originally posted on Auto Dealer Today

More Auto Finance

$5 bill poking out of blue jeans pocket
Auto Finance•by Hannah Mitchell•October 14, 2026

Interest Rates Further Squeeze Auto Consumers

Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.

Read More →
Staircase with no rails next to red-painted wall
Auto Finance•by John Tabar•October 8, 2026

Mind Your Process

Consistent steps taken in various aspects of the F&I office can make valuable differences over time, similar to an outline for a best-selling book.

Read More →
Scrabble letter tiles spelling fraud
Auto Finance•by Gil Van Over•September 30, 2026

Top Five Credit Application Fraud Flags

Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.

Read More →
Ad Loading...
Paper money, car key fob and calculator
Auto Finance•by Hannah Mitchell•September 14, 2026

More Auto Loans for the Taking in August

Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.

Read More →
A fan of $100 bills sitting on a white envelope
Auto Finance•by Hannah Mitchell•August 12, 2026

July Was Hot for Auto Borrowers

Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Finance•by Lauren Lawrence•August 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
Ad Loading...
man sitting at desk using a calculator
Auto Finance•by Lauren Lawrence•August 10, 2026

Auto Refi Savings Surge

Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.

Read More →
Tiny toy car in front of small stacks of coins
Auto Finance•by Hannah Mitchell•August 5, 2026

Subaru Enters Lending Business

The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.

Read More →
Man climbing ladder in front of mountain landscape.
Auto Finance•by Lauren Lawrence•August 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
Ad Loading...
Photo of document next to calculator and inkpen
Auto Finance•July 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →