Beginning in March, Quebec-based car dealership HGreg’s will accept bitcoin payments for the purchase of new or pre-owned vehicles. This includes all 30 of their dealerships in both Canada and the United States.
HGreg includes both HGregoire and HGreg.com banners. In the press release, HGreg says that they are once again redefining the market by becoming one of the first automotive groups to accept cryptocurrencies(Bitcoin) in its day-to-day operations.’
Revenue From Sales To Be Kept In Bitcoin
They added that ‘a portion of the revenue from sales made in cryptocurrency will be kept in this format by the company.”
HGreg has already tested out the new process by carrying out a handful of cryptocurrency transactions. The company also insists that the transaction process will remain as simplified and secure as it has been.
HGreg president, John Hairabedian spoke on the decision. “Our desire to constantly evolve and improve our customers’ shopping experience inspires us to make bold decisions. Providing them with a greater variety of payment methods is part of it.”
“We’re pleased today to be at the forefront of technology, giving our customers another payment option. We also believe it will be advantageous to keep some of our assets in cryptocurrency.”
HGreg is the latest car dealership to enter into the Bitcoin space. Recently, Tesla said it would accept BTC for payments as it was discussing its $1.5 billion investment into Bitcoin.
Additionally, Italian supercar manufacturer Mazzanti made it possible to buy its Evantra supercar with the largest cryptocurrency.
Billionaire Tilman Fertitta also revealed that his dealership had sold 17 luxury cars to customers over three years. “Tesla taking it is much more important than me taking it, but believe it or not, we’ve sold 17 cars, Bentleys and [Rolls-Royces], with Bitcoin.”
HGreg was founded in 1993. They are committed to simplifying the car buying process through their core values of excellence in customer service, transparency, smart use of technology, and a refreshing customer-focused philosophy.