Costco Holiday Sales Event Adds More Incentive This Year | Auto Finance News | Auto Finance News

Costco Holiday Sales Event Adds More Incentive This Year

Costco has tacked on $500 rebates to its annual auto program holiday sales event announced last week.

As in previous years, the retailer has partnered with General Motors to offer members discounts on new and leased 2018 and 2019 Chevrolet, Buick, GMC, and Cadillac models. Qualifying models are eligible for the discount until Jan. 2, 2019.

In an effort to move this year’s inventory and make way for 2019s, deals on 2018 models include $500 off the lease or purchase of new Chevrolet, Buick, GMC, and Cadillac models for consumers and added incentive over last year’s offering. Consumers who were Costco members as of Oct. 1 are eligible. More deals are extended for 2019 models, including GM supplier pricing, a Costco cash card loaded with $700 for “executive” members, and $300 for “gold star” and “business” members.

Costco services director Mark DerGarabedian described the ongoing partnership with this OEM.

“For the last several years of the Holiday Sales Event, Costco Auto Program worked with General Motors to deliver special pricing for Costco members,” DerGarabedian said in a company-issued statement. “This latest event is no exception. We are excited at the opportunity this brings for Costco members.”

A bulk supply retailer might not be an obvious choice for purchasing a vehicle, but the global retailer has established itself as a bona fide dealership.

Last year Costco members purchased more than 520,000 vehicles through the holiday program, with average discounts equaling $1,000. In the past five years, more than 2 million members have purchased vehicles through Costco.

The incentives extend to dealerships, as well.

“We’re not just providing leads to dealers — we’re creating a referral,” Rick Borg, executive vice president of program operations at Affinity, the company that has operated the program since 1989, told Business Insider.

Prearranged pricing is also available for CPOs, powersports, and recreational vehicles. As further incentive, “Costco members receive a discount on the majority of parts, service, and accessories at participating automotive service centers and powersports dealerships.”

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