Crypto Currency
You can now buy a car or truck with the crypto currency of your choice in Canada!! Farquhar Chrysler is the first dealership in Canada to accept crypto currency as a legitimate option for the purchase of any new or used vehicle!
If you need financing and want to make a down payment, you can do so with crypto. We have relationships with people in the crypto currency industry and the transaction is actually quite straightforward.
CAN I MAKE A VEHICLE PURCHASE WITHOUT CASHING OUT MY CRYPTO ON THE EXCHANGE?
YES! The best option to complete your vehicle purchase using your crypto currency is a crypto backed loan. This option uses your asset as collateral to secure a competitively priced auto loan. Your crypto is returned to you when the loan is paid in full. Farquhar Chrysler can arrange this for you and guide you through every step of the way. These loans are completed with Smart Contracts and either centralized or decentralized systems. You’ll be amazed at how instant the process is! In some cases this can be completed in minutes!
Ready to Buy With Crypto Currencies?
Check out our inventory of quality new and used vehicles and fill out a form if you’re interested in buying a car with Crypto Currency in Canada. The easiest way to expedite the process is to come visit us at 2635 Trout Lake Rd, North Bay, Ontario, P1B7S8, browse our indoor showroom, and sit down with our finance experts to finalize a deal. Contact Farquhar Chrysler Today, the only new and used car dealership to accept Crypto Currency in North Bay and Canada.
Crypto Currency Is The Money of The Future
There’s no denying the convenience and safety of not having to carry cash or credit cards anymore. The banks don’t control your money – you do! So, the next time you enter a dealership to buy yourself a Ferrari, you won’t be carrying cash or a checkbook.
You can drive home your dream car with just a swipe of your finger and a QR code. It’s time for you to enjoy the freedom and security Crypto Currencies provides.
Make your next payment in Crypto Currencys!
Borrow with Crypto/FAQs
What is Crypto Currency?
A digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
What is a stablecoin?
Similar to other crypto currencies, but they are linked to FIAT currency.
- i.e 1 stablecoin = 1 USD (USDC, DAI, Binance,Terra)
What cryptocurrencies can I borrow against?
The following cryptocurrencies can be used as collateral
BTC – Bitcoin
ETH – Ethereum
BNB – Binance coin
ADA – Cardano
SOL – Solana
DOT – Polkadot
BCH – Bitcoin cash
LTC – Litecoin
USDC – USD Coin
What is a blockchain?
A blockchain is a network of databases that ensures the integrity of a cryptocurrency by encrypting, validating, and permanently recording every transaction. (Bitcoin , Ethereum, Waves)
Protocols are spread across blockchain networks and act as a set of rules and determine how something will function (Ethereum, Hyperledger, Multichain, Aave, Compound, Maker). Similar to how HTTP(s) , SMTP or TCP/IP is used on the internet
What is a smart contract?
Digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met on a transaction i.e sending a payment or buying an asset has smart contract code written inside that transaction. (Ethereum, Polkadot)
Am I restricted on where my funds come from (ie. exchange, wallet, ledger etc.)?
There are no restrictions. If you own the private key or can initiate a transaction of someone who owns the private key, then the transaction will succeed. All exchanges, wallets and offline storage will work.
What is a Wallet or Exchange in the world of Crypto?
Wallet – Think of this as a bank account (Coinbase, Metamask)
Exchange – Think of this as a bank where you can buy, hold, sell, and trade your assets.
Can I do a partial down payment with fiat/crypto and finance the rest in cryptocurrency?
You can do partial down payments with fiat currency or crypto and finance the remaining amount. Please work with your sales rep and finance manager to determine the terms.
How fast does it take to process the loan?
Centralized financial loans such as Salt Lending may take up to 30 minutes to process. Decentralized financial loans should be processed within a few minutes.
Defi, Cefi, Tradfi. What are they?
Defi (Decentralized Finance) Think of this as peer to peer liquidity lending pool built on technology, not a company (Aave, Compound)
Cefi (Centralized Finance) – Think of this as an organization operating like a crypto bank (Salt, Nexo, Blockfi, Ledn)
Tradfi (Traditional Finance) – Retail, commercial, investment banks, fintechs (TD, CIBC, Square, Paypal)