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CoinDesk: Australian car company Tomcar now sells off-road vehicles for bitcoins

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06.11.13 - CoinDesk: Australian car company Tomcar now sells off-road vehicles for bitcoins


"Car manufacturer Tomcar Australia claims to be the first automobile vendor to accept bitcoin. The company, which makes rugged off-road vehicles, begins accepting the cryptocurrency today.


Bitcoin has proven to be a useful currency for online services, and mail order goods. Some bricks and mortar services also take it. However, the cryptocurrency has largely been ignored for purchases like cars, unless you buy via an online marketplace. Now, Tomcar, which makes specialist off-road utility vehicles, will happily take your decentralized digital cash.


"Any startup company should maximize potential payment methods and we see bitcoin as a valid burgeoning payment format, just like credit cards were in the 1970s," said David Brim, co-founder and CEO of the Australian firm. "When our Tomcars are suited to many driving environments, it makes sense to accept a global currency without nation state borders."


The firm will be taking coins via the local CoinJar service. Customers select bitcoins on the site, and the purchases then go through CoinJar's payment gateway. The price of the cars (which includes goods and services tax) will be calculated based on the value of the bitcoins in real time and reconciled by CoinJar. CoinJar, which provides the checkout code for its customers' web sites, settles funds into a firm's bank account daily and takes a 1% cut of the funds that it transfers." 



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