Money Management

You can unlock exclusive savings and a hassle-free car-buying experience with a Costco membership. Find out how today. [[{“value”:”

If you’re in the market for a new set of wheels, you’ve probably done your fair share of research on dealerships, online car marketplaces, and private sellers. But have you considered making your purchase through Costco? That’s right, the warehouse giant known for its bulk goods and unbeatable prices also offers a car-buying program that could save you thousands.

Let’s dive into how a Costco membership can be your ticket to driving off in your dream car without hurting your personal finances.

Exclusive member savings

Costco’s Auto Program is a hidden gem for car buyers. As a Costco member, you get access to pre-arranged, members-only pricing on both new and used cars. The program partners with dealerships across the U.S., ensuring you get competitive, no-haggle prices on a wide range of vehicles. According to Costco, members save about $1,000 off the manufacturer’s suggested retail price (MSRP), depending on the make and model.

Additionally, Costco periodically offers extra incentives such as manufacturer rebates, low APR financing, and even gift cards with your purchase. For example, during promotional periods, members might receive $2,000 off a car on top of any dealership deals. These perks can add up quickly, making a Costco membership a smart investment for anyone looking to save on their next car.

Simplified car-buying process

Let’s face it: car shopping can be a daunting experience. Between negotiating with salespeople, comparing prices (and making sure payments fit into your budget), and deciphering financing options, it’s easy to feel overwhelmed. Costco takes the stress out of the equation with its straightforward, transparent buying process.

Here’s how it works: You start by visiting the Costco Auto Program website, where you can browse a selection of thousands of vehicles and compare prices. Once you’ve found a car you’re interested in, you can locate a participating dealership near you. Costco provides the members-only price upfront, so there’s no need for back-and-forth haggling. You simply show your Costco membership card at the dealership, confirm the pre-arranged price, and complete the purchase. It’s that simple.

Special offers on accessories and services

Your Costco membership extends beyond just the purchase of your car. Once you’ve driven off the lot, you can continue to save with exclusive discounts on various automotive services and accessories.

Need new tires? Costco offers 15% off parts, services and accessories from participating service centers. That could include services such as oil changes and brake inspections. And you could even save on auto insurance (customers save $595.86 on average) with Costco.

By bundling these savings, you can keep your car in top condition without spending a fortune.

Leveraging your membership for long-term benefits

The benefits of the Costco Auto Program don’t end once you’ve driven off the lot. As a member, you have access to ongoing support and resources to help you make the most of your purchase.

For example, Costco offers a dedicated member advocate team that can assist with any questions or issues that arise after your purchase. Whether you need help with financing, warranty claims, or understanding the fine print of your contract, Costco’s team is there to ensure you’re completely satisfied with your experience.

Moreover, if you’re considering trading in your vehicle down the line, the Costco Auto Program can help with that, too. Its trade-in service offers competitive offers on your current vehicle, making upgrading to your next car easier when the time comes.

With exclusive member pricing, a simplified buying process, and ongoing savings on automotive services and accessories, Costco makes car buying easier and more affordable than ever. So, the next time you’re in the market for a vehicle, remember to check out the Costco Auto Program. Your wallet will thank you, and you’ll gain peace of mind, too.

Top credit card to use at Costco (and everywhere else!)

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Many Americans are looking for ways to generate passive income. Read on to find out how to get started. [[{“value”:”

I’ve spent most of my working years as a freelance writer, and I love the flexibility it offers me. However, one of the downsides is that when I’m not working, I’m not making money. That’s got me thinking more about how to earn passive income that allows me to earn money while I’m on vacation or just taking a day off.

I’m not the only one interested in this idea. In fact, about 46% of Americans who start a side hustle do so to earn passive income. Let’s look at a handful of opportunities that can help you make money while you sleep.

1. Affiliate marketing

There are many different ways to make money from affiliate marketing, but one of the best options is by starting a blog or content site with affiliate links. For example, you could launch a website about your passion for bikes or hiking and create great content around that topic.

Once you’ve established your blog, you can sign up for an affiliate program where you link to an online shop, like Amazon, and receive a cut of each sale of backpacking gear or bikes you help generate.

Some of the latest data shows that most affiliate marketers who promote items on social media make about $1,000 per month. Of course, you can potentially earn much more if you build a successful online presence.

2. Create an online course

Creating an online course can be a great option for passive income because you can use your past work experience and package it into a product you can continually make money from.

You can do this by launching your own e-commerce website to sell the course or by using various online course platforms, like Udemy and Coursera. Using an existing marketplace may eat into some of your profits (the platforms take a cut of the sale), but you’ll benefit from having a built-in customer base.

3. Start a dropshipping business

Dropshipping is a popular way for people to earn passive income because you outsource some of the e-commerce logistics to a third-party company. For example, if you like to design t-shirts, you could create an online store to sell your designs, but outsource the printing and shipping to another company.

You’ll still have to spend time designing t-shirts and launching a site (or using an existing marketplace), but once the business is set up, you don’t have to worry about managing inventory or shipping.

4. Buy a rental property

This is a tried-and-true way of making money while you sleep, but the unexpected angle here is that there are different ways to approach a rental property that you might not have thought of.

For example, if you buy a duplex and live in one of the units, you may be able to get a larger mortgage than you usually would be able to afford. Many banks will look at the potential rental income minus an estimate of what you’ll pay to manage it, and add up to 75% of the potential rental amount as your income.

If you want a place to live and to earn some rental income, this can be a good strategy for making your own home more affordable while investing in real estate at the same time.

5. Rent out your car

With 41% of workers on hybrid schedules, many cars are sitting idle right now. Why not put yours to good use?

Car-sharing sites like Turo allow you to list your car on the platform and make money from renting it out. There are some requirements, including that your vehicle can’t be more than 12 years old (unless it’s a classic car) and the mileage needs to be under 130,000.

You’ll have to keep up with the vehicle’s maintenance, make sure it’s clean after each use, and ensure delivery to the next driver, but the effort could be well worth it. Turo says the average annual income for one car listed on its site is $10,868.

Many of these passive income streams (besides the rental property) don’t require a lot of upfront costs. This means that the only thing standing in the way between you and earning income while you sleep is the initial effort to get one of these income streams off the ground.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.

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If your emergency savings account sits in a checking account, you’re losing money. Keep reading to learn about four better places to save money. [[{“value”:”

Have you managed to put money away for a rainy day, but it’s still sitting in your checking account or a traditional savings account, earning very little interest? If so, it’s time to find a new home for your fund, someplace where your money can earn money. Here are four of the easiest, smartest places to tuck your emergency fund away.

1. High-yield savings account

High-yield savings accounts typically pay much higher rates than traditional savings accounts, helping your money grow. Here are several more facts you need to know about high-yield savings accounts:

Some high-yield savings accounts pay a much higher annual percentage yield (APY) of 5.00% or more.Funds in a high-yield savings account are easy to withdraw when you need them (often, you’ll need to transfer money to a linked checking account.It pays to monitor APYs closely, as rates are variable and can change.

2. Money market account

A money market account (MMA) is a type of savings account (with a somewhat fancy name). MMAs share some characteristics with high-yield savings accounts, although there are also notable differences.

Some banks and credit unions currently offer great rates on MMAs, far higher than a traditional savings account.MMAs often have a minimum balance requirement to open an account.You can often access your money via checks or a debit card.The number of withdrawals and transfers you make in one month may be limited.Like high-yield savings accounts, MMAs have a variable APY, meaning you must remain aware of interest rate changes.

3. Certificates of deposit

A certificate of deposit (CD) is yet another type of savings vehicle offering high APYs on your savings. Here’s how a CD works:

Opening a CD involves depositing a certain amount of money for a specific amount of time. The terms typically range from three months to five years, depending on the financial institution.In return for depositing money with it, the financial institution guarantees it will pay you a set amount of interest as long as you leave your funds in the CD for the agreed-upon term.One thing that sets a CD apart from deposit accounts like savings is that you’re guaranteed a fixed rate of interest for the entire term. So, if you open a 5-year CD, you know exactly how much money you will earn by the time it matures.If you decide to withdraw money before the term ends, you’re likely to get hit with a penalty. If you’d prefer, you can open several CDs, each with a different maturity date, so you can continually access some cash (this is called CD laddering). If a CD matures and you don’t need the money to cover an emergency, you can always check current APYs and allow it to roll over into a new CD if you like the rates.

4. Cash management account

Another place you can safely park your emergency savings is in a nonbank cash management account. If you have a brokerage account, ask your broker about how much its cash account currently pays in interest. Like a traditional savings account, you can withdraw cash as you need it.

Ask yourself these questions to decide

There are three questions you’ll want to ask yourself before moving your emergency fund into any of these accounts:

What is the current APY?Is the rate fixed or variable, and does it matter at this moment?Will I be hit with a penalty if I need to access my cash sooner than expected?

You know you’ve found the “sweet spot” for your emergency fund if your money is somewhere secure, has a good rate of return, and you’re comfortable with the rules regarding withdrawal.

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This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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