Sam’s Club Car-Buying Program Review
Buying a car can be a stressful experience. Because it’s something you don’t do often, it’s easy to feel like you’re being taken advantage of by professional car salespeople. And, once you figure out the tricks of the trade, it will likely be years before you have to buy another car (plenty of time to forget it all!).
One option to consider is the Sam’s Club Auto Buying Program, which promises upfront pricing and a transparent buying process.
What benefits come with the Sam’s Club Car-Buying Program?
Along with upfront pricing and a no-haggle car-buying experience, Sam’s Club members who buy their car through the program are eligible for the following benefits:
- An average savings of $2,434 off of MSRP (manufacturer’s suggested retail price) on new cars
- A $110 Sam’s Club e-gift card
- Exclusive cash back incentives on certain makes and models
How does the Sam’s Club Auto Program work?
Sam’s Club uses the TrueCar network for its car-buying service. After getting the true value of your current car and a cash offer within minutes, you can then search from millions of new and used cars.
To buy a car through Sam’s Club and TrueCar, you’ll just follow a few easy steps:
1. Sign in with your Sam’s Club membership
You can check MSRPs and compare vehicle specs on the Sam’s Club Auto Buying Program website even if you aren’t a member. But to see what a car would cost through the program, you have to sign in and verify your Sam’s Club membership.
You can sign up online or in store — membership costs range from a reasonable $50 per year for a Club membership to a slightly fancier $110 per year for a premium (Plus) membership.
2. Decide on a vehicle
You’ll have plenty of cars to choose from through the Sam’s Club Auto Buying Program. When you’re shopping, use an auto loan calculator to make sure you can afford the car payment before deciding. Once you find the car you want, schedule an appointment to see the car in person.
3. Shop for a car loan
The Sam’s Club Auto Buying Program is a marketplace where you can find and compare cars, but you can’t use it to compare or get an auto loan. You could get financing from the dealership. Before you do, get some preapproved car loans.
A preapproved car loan is a conditional offer based on your credit score and report. It can help you figure out if the dealer’s offer is competitive, and you might be able to get a lower rate on your own.
4. Finalize paperwork with the dealership
When you get to the dealer, you’ll confirm your Sam’s Club special pricing and if you didn’t get one ahead of time, finalize your loan.
5. Report purchase to Sam’s Club for additional benefits
After you buy the car, you’ll want to report the purchase to the Sam’s Club Auto Buying Program within the next 45 days. You’ll be eligible for a $110 Sam’s Club e-gift card, which is enough to cover your Sam’s Club Plus membership.
Other car-buying discount programs
Besides the Sam’s Club Auto Buying Program, there are other programs available from similar companies. It’s good to be aware of the different options so that you can make the right choice for your particular situation. Here are a few other car-buying discount programs to consider:
- Costco: The Costco Auto Program is very similar to Sam’s Club’s service. However, Costco has slightly more perks: discounts on parts and service and finance and insurance options, too. You will need to have a Costco membership to participate in Costco’s car-buying program.
- Navy Federal Credit Union: Also operating through the TrueCar network, this car-buying service offers after-purchase benefits worth $5,000. And because Navy Federal also offers car loans, it can make it easier to secure financing for your new purchase. Keep in mind though that you’ll need to be a member of Navy Federal, which means that you have an affiliation with the military.
- AAA : AAA’s car buying program also offers discounts on new and used vehicles through the TrueCar system. That means that you can select from TrueCar’s nationwide network of dealers. The cost of AAA membership will vary by location and the type of plan you select.
- Consumer Reports: Consumer Reports is another organization that partners with TrueCar to offer a car buying service. If you already have a Consumer Reports membership or would find it valuable, this can be another way to access this service. However, be aware that Consumer Reports charges $39 per year for membership.
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