You probably know that Costco sells cheap(er) gas, bulk mayo, and toilet paper, but you might not know that you can save money buying a car using Costco new-car purchase program. Though it has long offered discounts and car deals, the company recently announced a new promotion that includes all models and configurations from a vehicle manufacturer.
Volvo is the first through the program, and Costco discounts apply to all Volvo models, including electric and hybrid vehicles. From May 2 through July 31, Costco members can purchase or lease a new Volvo and get up to a $2,500 incentive, and any manufacturer offers still apply.
Members get $2,500 for purchasing a 2023 or 2024 XC40 Recharge or C40 Recharge.
Members can get a $1,000 incentive for purchasing a 2023 or 2024 model from the rest of the fleet:
Missing from that list is the V60 Recharge PHEV, but a program representative told Autoblog that the hybrid versions of the other models are included.
If you’re a Costco member and want to take advantage of the deal, you’ll need to register to receive a certificate you can take to the dealer. Members can also combine the incentive with Costco’s prearranged pricing program, which the store offers in partnership with approved dealers.
This isn’t the first time Costco has partnered with Volvo on vehicle promotions. The company said it first launched specials for members in 2007, and last year the Costco Auto Program offered a $1,250 incentive for purchasing a certified preowned 2019-2021 Volvo. The Swedish automaker’s XC90 SUV was the most popular model for the program in 2022 and was Costco’s most requested vehicle.
Though it’s working with Volvo on incentives, Costco’s Auto Program offers buying tools for all makes and models. Buyers can research vehicles on the store’s site, and it provides “no-haggle” pricing on a range of vehicle makes and models at its partner dealers. That said, shopping around to find deals that offer better terms is always a good idea.