Bitcoin world first for UK car leasing firm

intelligentcarleasingBitcoins are now being accepted at UK lease broker Intelligent Car Leasing in what the firm claims is a world first.

Described by the firm’s sales manager Craig Day as a move to “stay ahead of the curve”, the surprise tech news is certainly striking – the firm calls it ‘a breakthrough announcement’.

Bitcoins can be used to pay for the handling charge applicable to all new cars leased; the regular lease payments will still be taken in more conventional ways. The logic behind introducing Bitcoin was the lack of additional website development costs, and it may also potentially speed up the arrangement of car lease agreements. If it’s a success, Bitcoin payments could be extended to other transactions as well.

All this may, reckons the firm, open up opportunities for new revenue streams: the fact Bitcoin is a decentralised peer-to-peer currency, meaning it can be used worldwide without exchange rates, potentially gives the firm other business avenues to explore.

It means car leasing is now included on the list of things people can buy with Bitcoin, along with meals out, holidays, haircuts, legal fees and plenty more. “We are always on he lookout to give customers the best online shopping experience possible,” said Day. The intriguing addition of Bitcoin to its payment options is certainly innovative: others will be watching with interest to see how it works in reality.

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