Overview And Guide to Costco Auto Program
You could say that Costco is taking over the world! Along with Amazon, Costco has exploded in popularity as they offer great prices and exceptional customer service. In fact, over 81 million members had a paid Costco membership in 2015.
Other than saving big on bulk toilet paper, exceptional wine, and other one-off oddities, you can utilize your Costco membership to save on your next new vehicle purchase. The Costco Auto Program is their unique program to help you save time and money while shopping for your new vehicle.
Overview of the Costco Auto Program
The Costco Auto Program connects loyal Costco members to specially selected dealerships across the country. These dealerships are hand picked and trained to make the shopping experience as seamless as possible.
Clearly, this program works! After being introduced in 1989, this program is now the third largest seller of automobiles behind two large auto groups. This program is available on new and used vehicles, and combines an easy customer experience with special manufacturer rebates.
Manufacturers that Participate in the Program
As of December 2020, there are four main manufacturers that participate in the program. They are:
- Chevrolet
- Buick
- GMC
- Volvo
These manufacturers have partnered with the Costco Auto Program to offer special discounts and incentives to interested customers. Additionally, the program offers low, prearranged Costco member pricing and trained authorized dealer contacts to make the shopping experience great.
How much can you save
In short, several thousand dollars – at least! This isn’t bad when considering that a Costco membership can be purchased for less than $100.
Here is how much you can save on the participating brands:
Chevrolet:
$1,000 on top of all other incentives
$3,000 on Chevrolet Bolt EV
Buick:
$1,000 on top of all other incentives
GMC:
$1,000 on top of all other incentives
Volvo:
$1,250 member-only bonus on a new 2020/2021 XC40, XC60, or XC90
Can you actually buy a car with the Costco Program?
The Costco Auto Buying Program aims to connect in-market shoppers with eligible dealerships. As a result, you cannot directly purchase a vehicle through the program, but you can skip several steps in the process. Instead of negotiating at the dealership, you can receive a special pre-negotiated price and other special offers.
This allows you to be in and out of the dealership quickly and saves you precious time. It also ensures that you don’t leave any money on the table when negotiating. You are able to see a final purchase price of the vehicle, which applicable taxes, fees, and other incentives factored in. Rather than possibly making an emotional decision while in the dealership, you are able to carefully think through the purchase from the comfort of your own home.
Can you buy a pre-owned vehicle?
Although the program is mainly targeted towards new vehicles, it is possible to purchase a pre-owned vehicle through the Costco Auto Buying program. These vehicles are usually Certified Pre-Owned vehicles and covered under a significant amount of remaining factory warranties. This can give you the peace of mind of a new vehicle, without the fear of a large amount of depreciation.
Costco Program Reviews
The Costco Auto Program has overwhelmingly positive reviews from past users. Rather than dealing with a dealership directly, the Costco Auto Program gives you a layer of insulation. You have the power and support of a multibillion-dollar corporation standing behind your car purchase.
As I always recommend, it is still a good idea to carefully research the individual dealership that you choose to do business with. Check out their online reviews on Google and Facebook to see if the dealership is good to work with before deciding where to buy your next car.
Other Helpful Information
As always, be sure to determine that your new vehicle will easily fit into your existing household budget and that it is the right time to buy your next vehicle. Also, get prequalified before stepping foot into a dealership. This will help you save even more money!
Please leave a comment below if you’ve used the Costco Auto Program in the past or if you have any questions!
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