Costco has several membership perks that aren’t as well-known as their low pricing and low-priced car service, one of which is car leasing. Car leasing may be a viable alternative if you’d like not to deal with depreciation or long-term finance agreements. Let us know about “Does Costco Lease Cars?”
Perhaps you are a Costco member interested in leasing a car through the Costco Auto Program but are unsure if this option is available; read on!
The United States Costco members can access the Costco Auto Program. The program is made available by Costco in conjunction with more than 3000 auto shops. Costco claims its approved dealers in the lease program offer the same “members exclusive” pricing for leasing cars as they do for purchasing cars.
Overview Of Costco Car Leasing Program
Costco Auto Program is open to members who wish to purchase or lease a new truck, car, van, or sports utility car from any participating dealership.
You may get behind the wheel of a brand-new or gently-used car with the help of Costco’s Auto program. Aside from the $500 reduction on servicing, Costco members save 15% on auto components at participating locations in the US. Limited-time offers and manufacturer rebates are also available.
To participate in the Costco Auto Program, you must pay the standard price for a car or lease it.
Affinity Auto Programs Inc. manages the program and specializes in developing brand-specific purchasing environments.
You may browse a catalog of automobiles offered by program dealers before purchasing or signing a lease. You pick any brand, model, trim level, and paint job or body style you like.
When you’ve decided on a car, Costco will put you in touch with a local dealer so you can discuss pricing in person.
Available Cars Under Costco’s Leasing Program
Leasing options for Costco members may include, but are not limited to, the following makes and models (depending on the particular dealership with whom Costco has partnered):
Cost Of Car Lease At Costco
Car leasing through Costco Auto is priced differently depending on the automobile’s manufacturer, model, and trim. What you’ll pay is based partly on the timeframe of the lease. Car leasing terms typically range from 24 months to 48 months in length.
Leasing requires you to pay a percentage of the car’s MSRP for the time you have it. For instance, if you rented a car for two years for $36,000, the value may have dropped to $28,000. Your payment in this scenario will be $8,000 plus interest accrued for two years. Also, there will be a higher than usual security deposit and extra charges.
Leasing a car often has stricter credit criteria compared to buying.
Once you’ve decided on a certain car, the authorized dealer will pull up the special Costco pricing for you to peruse. Every possible cost and any applicable reductions or extra charges are listed in detail on the price sheet. The Costco Member Advocacy Group is there to help if you’re unhappy with the dealer’s pricing.
Costco Car Leasing Guideline
If you want to lease a car through Costco’s Auto Program, you’ll need to go through the company’s website or contact center to locate a dealer. The process goes thus:
- Enter your Zip code on the Costco Auto Program portal to get area-specific deals.
- Select your preferred car from the available car dealerships. You can use the filter option to customize your search. To narrow your search by manufacturer, enter the year of production, the brand, and the specific model you’re looking for, then click the Get started button.
- Provide your name, email address, membership number, and tier of Costco membership (Gold Star, Executive, or Business).
- You will then be connected with the local dealership that matches your profile and search criteria.
The approved representative will provide you with a pricing list that only club members can access, detailing the cost of the car you’ve selected. You can either lease the car at the quoted price and terms or negotiate a lower price and better conditions.
Advantages Of Costco Car Leasing Program
Some of the advantages of the Costco car leasing program include:
- You may sign a lease without making any sort of advance deposit. You can be confident that your lease payments will cover the lease itself and all taxes and fees linked with your selected car.
- Less expensive than buying outright, leasing can help you save money.
- Costco Auto Program exclusively partners with dealerships that have earned their confidence via superior service and competitive pricing.
- If you decide that leasing isn’t for you, you can return the car at any point throughout the lease period without penalty or impact on the car’s market value.
- You may avoid the hassle of researching several lenders and insurance companies and the time-consuming process of filling out the necessary paperwork by the dealership.
- The Costco Auto Program offers support even after the transaction, with features like roadside assistance and free maintenance that you wouldn’t get with a used car.
You can lease a car for 24-48 months in the Costco Auto Program. More than three thousand authorized Costco dealers around the United States from which customers may purchase or lease cars.
Costco can offer attractive “members-only” discounts through its Auto Program by bargaining with dealers in advance. You may save up to $500 on services and 15% on components. You need to be a Costco member to participate in the promotion.
Do you offer pricing adjustments for the Costco Auto Program?
In the Costco Auto Program, car pricing is set and cannot be negotiated. Costco and the vendors have agreed on the listed pricing, and there will be no more price adjustments.
Does Costco Offer Discounts on Rentals?
Costco Travel offers savings on automobile rentals to Costco members. Executive members save 2% annually and pay no costs to quit their membership.