Of all things you can buy with bitcoin, you can add quality and affordable vehicles to the list. Freshly announced: peer-to-peer vehicle marketplace Beepi is now allowing its users to purchase cars using digital currency — bitcoin, specifically. The company is also offering prospective vehicle buyers pre-approval for loans on those vehicles as they check-out.
“Adding bitcoin as a payment option and instant pre-approval for car loans are the next logical steps for Beepi, a company founded with a goal of eliminating friction at every step of the buying and selling process,” Tuesday’s announcement read.
“The $300 billion used car marketplace has experienced little to no innovation in decades and we’re excited to lead this change. Beepi first eliminated the hassle of working with car salesmen and now we’re taking the frustration out of payments,” said Beepi co-founder and CEO Ale Resnik.
The company has chosen Atlanta-based BitPay to process the payments — allowing them to instantly convert to United States dollars.
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“Integrating with bitcoin is a natural extension of our promise to deliver the easiest way to purchase a car in the 21st century,” Resnik said.
Users looking to take advantage of the feature will find the bitcoin icon in the payment options section of the check-out screen. Beepi says they are even offering up a $1,000 rebate to the first three buyers who buy a car and pay for it using bitcoin, provided the vehicle has a value of over $10,000.
“The automotive industry is at the forefront of bitcoin adoption and we see that trend continuing to grow with companies like Beepi leading the way. The beauty of ecommerce and sites like Beepi is that the inventory of all cars is accessible across the country for purchase as well as expanding the base of potential customers including those who hold bitcoin and are looking for things to buy,” said Tony Gallippi, BitPay’s executive chairman.