Are you a Costco member? If so, 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 will provide an additional discount — $1,000 — for the purchase or lease of selected new models of Cadillac vehicles.
How the Costco Auto Program works
Costco has established relationships with over 3,000 dealerships across the country that meet its standards for customer service. Costco also trains dealers to implement its discount program, so you shouldn’t find a clueless salesperson when you get to the dealership.
The program is free to all Costco members, but 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 January 2, 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 Cadillac dealer (in person).
Sweet, right? And remember that new and used electric vehicles may qualify for up to $7,500 in EV tax credits that could further whittle down the price of your car. The 2023 LYRIQ qualifies for the tax credit, but the 2024 Cadillac LYRIQ does not. Still, GM is not leaving its customers in the lurch. The company announced this week that it will lower the price of the 2024 LYRIQ by $7,500, according to Inside EVs.
The Costco Cadillac discount
To access the Costco Cadillac discount, you will need to purchase or lease your vehicle and take delivery by February 29, 2024. Your certificate code will entitle you to $1,000 off one of the following models:
- LYRIQ (all-electric SUV)
Other discounts offered by the program
If you're looking for a car besides a Cadillac, 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 price elsewhere, you can decline the offer and go to a different dealer.
Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America.
Capital Gains Tax Exclusion for Homeowners: What to Know
Tax Breaks The IRS capital gains home sale exclusion can be a valuable tax-saving tool if you’re eligible.
By Kelley R. Taylor Last updated
Kiplinger's Mutual Fund Guide For 2024
Giant U.S. tech stocks dominate many of the top-performing names in Kiplinger's mutual fund guide, but small and foreign companies are well represented too.
By Nellie S. Huang Published