If you are a current Costco member, you can tap into the Costco Auto Program for a new or used vehicle of your choice for a standard discount. As part of a limited-time offer, the program just added two new models; Costco members can get an additional $1,000 discount on the purchase or lease of a 2023 or 2024 Chevy Silverado 1500 or GMC Sierra 1500 pickup truck. You can also get up to $2,000 on selected new models of Polestar vehicles and $1,000 off new Volvo, Chevrolet and Cadillac vehicles.
To qualify for the specials, you must take possession of the vehicle by July 31, 2024.
How the Costco Auto Program works
Costco has established relationships with over 3,000 dealerships nationwide that meet its customer service standards. Costco also trains dealers to implement its discount program, so you shouldn’t find a clueless salesperson when you get to the dealership.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The program is free to all Costco members, and the lowest membership tier costs $60 per year. Before you join Costco in order to get one of these promoted auto discounts, know that only customers who have been members since April 30, 2024, will qualify.
To get access to a discount, register with the Costco Auto Program online or by phone to receive a certificate with your unique promotion code. Then, present your certificate and unique promotion code to any dealer (in person).
The Costco Chevy Silverado Deal
Chevrolet Silverado Pickup Truck
Eligible Costco members who purchase or lease new 2023 or 2024 Chevrolet Silverado 1500 models can receive a $1,000 member-only incentive, plus all available incentives for which the member qualifies.*
Car and Driver rates the Chevy Silverado an 8.5 out of 10 stars, noting its exceptional towing capacity.
The GMC Sierra Pickup Deal
Eligible Costco members who purchase or lease new 2023 or 2024 GMC Sierra 1500 models can receive a $1,000 member-only incentive, plus all available incentives for which the member qualifies.*
The GMC Sierra is both comfortable and rugged, earning 8.5 out of 10 points in a review by US News & World Report.
*To qualify for the deal, Costco members must take delivery of their new vehicle by July 31, 2024. See CostcoAuto.com/specials for current Limited-Time Specials, restrictions, eligibility dates, terms and conditions. Costco and its affiliates do not sell automobiles or negotiate individual transactions.
New hybrids and EVs
Gas prices getting you down? The Costco Auto Program might get you into a more efficient gas-powered car, or a hybrid or fully electric vehicle (EV).
Sweet, right? And remember that new electric vehicles may qualify for up to $7,500 in credits provided at the dealership that could further whittle down the price of your car. The 2024 Cadillac LYRIQ qualifies for the tax credit, for example. Several states also offer tax breaks. And some states may also provide rebates on plug-in hybrids or electric vehicles. For example, Colorado provides rebates up to $12,000, California up to $7,000, Massachusetts up to $3,500 and Maryland up to $3,000, to name a few. Several states also provide incentives for installing a Level 2 (medium speed) charger at your home.
The Costco Polestar deal
A $2,000 member-only incentive, plus all available incentives for which the member qualifies on a new Polestar 2.* Never heard of Polestar? It is a Volvo all-electric brand designed for luxury EV drivers. The base model of the Polestar 2 has a 320-mile range and goes from 0 to 60 MPH in four seconds. The car is rated 8.1 out of 10 by Car and Driver, and its safety rating is a perfect five stars, according to NHTSA.
This is the first time the Costco Auto Program has offered an incentive on new Polestar 2 models.
To qualify for the deal, Costco members must take delivery of their new vehicle by July 31, 2024. See CostcoAuto.com/specials for current Limited-Time Specials, restrictions, eligibility dates, terms and conditions. Costco and its affiliates do not sell automobiles or negotiate individual transactions.
Costco Volvo, Chevy and Cadillac deals
A $1,000 member-only incentive, plus all available incentives for which the member qualifies on multiple models.
For families wanting a plug-in hybrid with three rows of seats, the Volvo XC90 might fit the bill. The program offers a $1,000 voucher for both the gas (23 MPG) and the plug-in hybrid (58 MPG) versions of the car. The Volvo XC90 was the top-requested Volvo model in 2023 and through April 2024 compared to other models offered by the Costco Auto Program. Additionally, it is a 2023 IIHS TOP SAFETY PICK+ winner.
Chevrolet Limited-Time Special
A $1,000 member-only incentive, plus all available incentives for which the member qualifies on a 2024 Chevrolet Blazer EV or Equinox EV.*
The Chevrolet Blazer is the midsize electric SUV that Costco members request most through the Costco Auto Program. This car's estimated fuel efficiency is 96 MPGe (Miles per Gallon Equivalent) and its range is 279 miles.
A $1,000 member-only incentive, plus all available incentives for which the member qualifies on a 2023 or 2024 Cadillac LYRIQ.* Car and Driver rates the 2024 Lyriq 9.0 out of 10 stars.
To qualify for the deal, Costco members must take delivery of their new vehicle by July 31, 2024. See CostcoAuto.com/specials for current Limited-Time Specials, restrictions, eligibility dates, terms and conditions. Costco and its affiliates do not sell automobiles or negotiate individual transactions.
Other discounts offered by the program
If you're looking for a car besides the models profiled here, the Costco Auto Program may still help you save at the dealership. For current Costco members, log in to your account and go to the auto program website. As with any other service for purchasing new or used cars, you enter the make and model you're looking for, and follow directions. Before you are given a final price, you will provide personal details and contact information so that dealers may reach out to you.
Costco has already negotiated a discounted price with the dealer, so you can avoid the dreaded haggling with the finance office at the dealership.
If you think you can get a better price elsewhere, you can decline the offer and go to a different dealer.
Read more
-
Confused by Annuities? Making Sense of the Different TypesMany investors aren't sure if annuities are a good option for meeting financial goals. Let's look at the different categories, along with their pros and cons.
-
Talkin' 'Bout My Generational Wealth: Baby BoomersWith retirement, each generation has different priorities and challenges. For Baby Boomers, it's a matter of ready or not, here it comes.
