Program takes the
anxiety out of buying a
new car. With more than
2,000 hand-selected deal-
erships around the country,
Costco has done the work
for you, arranging exclusive
prices for Costco members.
Here’s a look at how the program works.
Costco’s Auto Buying Program in action
Saving money and time on your purchase involves three easy steps.
Research. First, determine what kind of
car you want. One convenient place to find
information is the Auto Program Web site on
costco.com. It features easy-to-use research
tools to help you learn about various vehicle
types, and enables you to make side-by-side
comparisons between different makes and
models. To find the Auto Program online, go
to costco.com, click on “Services,” and then
on “Auto & Home.” From there, follow the
Auto Buying links.
Contact a dealer. When you’re ready to
test-drive or buy, click on “Contact a Dealer”
or call toll-free 1-800-800-9288. After entering make and model (online or by phone),
you’ll receive dealer contact information.
The Authorized Dealer Contact will call or
e-mail you within 24 hours. If it’s more convenient, you can call the contact. Only
Authorized Dealer Contacts can offer a
member-only price. Be sure that’s who is
serving you, and make an appointment to
test-drive your vehicle of choice.
“This p rogram i s awesome.
The money we saved will
pay for our Executive
Membership for the next
25 years. Thanks, Costco.”
—Costco member Wilson Bell,
King George, Virginia
Get the Costco price. Your Authorized
Dealer Contact will explain the Costco program, and show you the manufacturer’s
invoice and the Costco Member-Only Price
Sheet. If you’re sold, buy the car. (You are
under no obligation.)
Most members save a bundle, but remember, the law of supply and demand still applies.
Certain models offer better savings than others.
You should also be aware that high demand
vehicles may be excluded from the program
in certain areas. You’ll be referred to the next
nearest dealership that does offer that car.
A few days after you’ve been referred to
a dealer, a Costco Auto Program Member
Advocate will contact you, by phone or
e-mail, to be sure your experience met
your, and Costco’s, expectations. If you
made a purchase, but have questions about
the deal, your Member Advocate will review
your sales contract to be sure you are satisfied. And Costco will act as your advocate if
In addition, Costco Executive Members
receive 15 percent off parts, service, labor
and accessories at participating Auto Buying
Program dealerships on any vehicle in your
household. And if that’s not enough,
Executive Members can fill out a member satisfaction survey after they purchase or lease a
new vehicle and receive a $50 gift certificate
good toward parts, service or accessories at
the same dealership where they bought their
car. Certain restrictions do apply.
For more information, go to costco.com,
click on “Services,” then on “Auto & Home.” Or
call toll-free 1-800-800-9288.—Steve Fisher
A Blank Check for a new car
THE COSTCO AUTO Buying Program helps
alleviate the angst in purchasing a new vehicle. But what about financing—the second
part of getting a new ride?
Costco offers a smart solution through its
Auto Financing & Refinancing service, which
takes the hassle out of auto financing while
offering great rates. Through Capital One
Auto Finance®, members can get an easy-to-apply-for loan for new or used vehicles, or to
refinance an already-purchased vehicle, and
save money in the process. The rates are
exclusive, and there’s no application fee.
Four easy steps to auto financing
Determine the size of your loan. This
means researching the type of vehicle you want
and the going price. (The “Car Research” tool
at costco.com under “Costco Auto Buying
Program” is a handy resource for this.)
Apply for the loan online through
costco.com. You can receive a response in as
little as 15 minutes (if you apply during business hours: Monday through Saturday, 8 a.m.
to 10 p.m.; Sunday, 10 a.m. to 7 p.m.). If you
have a high credit rating, you can receive
quick approval. If not, you may be asked to
provide more information.
Receive your check. Once the loan is
approved, you receive a Capital One Blank
Check® as quickly as the next business day (if
you pay $15 for overnight delivery). Or you’ll
receive it as fast as first-class mail can get it to
you. The check is good for 45 days, and the
rate won’t change. Use it to buy any vehicle,
new or used, or to refinance an existing loan,
within the approved amount.
Service of the Month offer
Apply before April 1, finance your vehicle through Capital One Auto Financing
and receive a $40 Costco Cash card if
you are an Executive Member; Gold Star
and Business members receive a $20
Costco Cash card. Visit costco.com,
click on “Services” and “Wallet Offers.”
Buy the vehicle! Just write the amount of
purchase on the check, hand it to the dealer
and drive your new car away. No need to hassle with dealer financing!
Costco Executive Members get an additional 0.10 percent rate discount. You’ll also
get a lower rate by using the automated payment option, which automatically deducts
your payment from a designated account. No
need to worry about mailing that monthly
check. If you get a quick infusion of cash and
want to pay off your loan early, there’s no
For more information, or to apply, visit
costco.com and click on “Services,” or call toll-free 1-888-317-6121.— SF