Costco Auto Program Vs. J.D. Power
J.D. Power has cemented a reputation for professionally accumulating and analyzing data in the best interest of consumers. For the automotive field, verifiable & unbiased information of real-world experiences endured by real vehicle owners is gathered through surveying the market from the third month to the third year of vehicle ownership.
The feedback generated from verified vehicle customers is used to segment the car market by price & size to create car ratings. Eventually, from these ratings, we derive the J.D. Power 100-Point Score (an overall rating per model per year) based on the following categories, weighted as indicated:
- Driving Experience (30%)
- Quality and Reliability (30%)
- Dealership Experience (30%)
- Resale Value (10%)
The 100-Point Score can be converted into four classifications for a high-level summary:
- Among the Best (90-100)
- Above Average (81-90)
- Average (70-80)
- Below Average (0-69)
On top of all that, serving consumers with a fuller understanding of car pricing and value, our J.D. Power Verified Fair Price is a dependable indicator that one is not overpaying for the desired vehicle. Using the purchasing information from over 12 million retail transactions each year, we keep close tabs on the average price and the price range paid by the majority of the people. Dealers who qualify will have the J.D. Power Verified Fair Price badge applied! Seeing that badge grants the assurance that the price is close to the average in that region.
What The Costco Auto Program Is
The Costco Auto Program is limited to Costco members, but it offers an exclusive marketplace where users can view new and used vehicles. Many of the vehicles are Certified Pre-Owned (CPO) and provided by local dealerships. These dealerships handle all of the transactions, and users have their choice of vehicles regardless of their location.
Costco members can select from a variety of nationwide manufacturer incentives that include things like cash credit, exclusive finance deals, and leasing agreements. There is also a 15% off coupon for services and parts through Costco when you buy a vehicle or other power sports equipment.
Costco Auto Program Review
The Costco Auto Program started in 1989 and has formed partnerships with over 3000 dealerships nationwide, which makes it easy for customers to find a vehicle near their home or their dream car. In addition to the discounted service and other incentives, there is a $500 Costco gift card included and an optional Driver Assistance 24/7 emergency service.
The program also includes seasonal sports equipment such as different kinds of watercraft, snowmobiles, recreational vehicles, and on-road vehicles and off-road vehicles such as ATVs and motorcycles. There is also a selection of mobility-style vehicles available, and the website offers a build-your-vehicle option where users can pick different specifications and features they prefer. The tool figures out the Member-only cost in addition to the MSRP.
The results provided with this tool come with an exhaustive list of specifications and features present on the vehicle, and the dimensions. Customers can also calculate monthly payments and factor in other incentives like rebates and savings from an introductory APR. To use these tools, you'll need to enter membership details so you can search for different vehicles, including the selection of certified pre-owned vehicles.
Members are also eligible to choose from manufacturer incentives that are available nationwide, including cash credits, special financing, and other lease deals. There are periodic coupons available for automobiles and other power sports equipment, and members who are Gold Star or Business level get a special coupon. This exclusive coupon offers a single-use 50% discount with a limit of $100 in savings.
Executive members can also use this coupon, but the limit of their savings increases to $200. The Costco Auto Program started in 1989 as an added feature it's members could enjoy. Since then, it has since grown to include several thousand dealerships and a well-developed website that allows its customers to compare costs, features, and models easily.
There currently is no app for the Costco Auto Program, but buyers can use the website to arrange their vehicle purchases online with any of the participating sellers.
Authorized dealers handle all of the sales and final pricing, as well as trade-in values and other add-on services. There aren't any used vehicles on the site that aren't certified pre-owned to protect customers, and the costs use Kelley Blue Book values and a pre-set discount.
Members can also complete a survey after their purchase before they receive additional benefits from the Costco Auto Program, and at least 2.3 million members have completed this step.