MENU
SEARCHFerrari adds option in the US and plans to in Europe, other areas where the alternative funds can be used.
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
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.
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.
Originally posted on Auto Dealer Today
Consumers are seeking ways to make financing new-vehicle purchases manageable, from extended loan terms to smaller down payments, according to Edmunds.
Read More →
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
Better financing conditions and the potential to save money on monthly payments could drive more consumers to buy out their vehicle leases instead of opting for a new lease payment.
Read More →
Managing a deal from submission to funding works best from a mix of efficient transactional methods and a customer-focused approach.
Read More →
The share of subprime, longest loan terms grow in Q4 as consumers take on more debt over longer terms to afford higher vehicle prices, Experian research finds.
Read More →
A StoneEagle 2025 industry report reads like a stress test. In a noisy year, F&I became the foundation that kept the house standing when the front end thinned.
Read More →
Over half of insurance holders ages 18 to 29 reported to be 'somewhat' likely to change providers in the next 90 days, according to CivicScience, which found that interest was lower among older age groups.
Read More →
Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.
Read More →
Joel Kansanback – CEO of Strategic Dealer Advisory – will take to the stage at the 2026 event.
Read More →
A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.
Read More →