How to Buy a Tesla with Bitcoin (+ Downloadable Budget Spreadsheet)

  • Pay cash wherever possible, to avoid a monthly car payment.
  • Buy the most reliable models according to Consumer Reports (usually Toyotas or Hondas).
  • Annual service checks and an occasional wash to keep them maintained.
  • Run them until they don’t run any more.

Step 1: Find a Used Tesla

Unlike gasoline automobiles, which depreciate in value as soon as you drive them off the lot, used Teslas hold their value remarkably well: another reason they appeal to the budget car buyer.

Step 2: Take a Test Drive

My wife and I went together (always bring a friend with private sellers). We made sure he seemed legit (he was). We did a visual inspection to make sure the Tesla looked good (it did).

Watch this video of people experiencing Tesla acceleration for the first time.

Step 3: Get an Inspection

It seemed silly to get an inspection on a car with less than 10,000 miles, but you never know if the car has been in an accident, and the professionals can tell. We called a mobile inspection service which specialize in this sort of thing. It’s a few hundred dollars, but worth it for the thrifty long-term car owner.

The mobile inspection service sent us a full report via email, with scoring.

Step 4: Cash out Bitcoin

This was the hardest part. It’s hard logistically, because we had to transfer the bitcoin from our digital wallet to our old-school bank, which required four hops through various payment service (watch out for fees). Each step along the way, it raised a red flag because all the algorithms are on high alert for fraud, even though this is perfectly legal.

How to buy a used Tesla with bitcoin. (For a new Tesla, just pay Tesla directly.)

Step 5: Write an Article About How to Buy Tesla with Bitcoin

I wrestled with whether to write this article, because I want to help people achieve long-term financial freedom through smart investments in bitcoin and cryptocurrencies. A Tesla, let’s face it, is a luxury car.

  • Gasoline cars have more maintenance expenses than electric cars.
  • Gasoline cars require endless trips to fill up with expensive gasoline.

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