I like the idea, but how to compete vs USAA and Costco? I am a member with all three.
Hi @jvwelch, what does USAA and Costco offer that you enjoy?
And then there's TrueCost (sp?) and the service offered by Consumer Reports. They both offer a no-haggle deal, and assurance that you're getting a good price.
Costco and USAA throw their userbase around to get better deals off MSRP from dealer, but mostly for new and certified pre-owned. That service is ideal for car buyers after a car worth $20k or more. That market is saturated with competition, and even though BECU is great, I don't think it will be able to compete with USAA and Costco userbase.
In a perfect world, BECU could differentiate by offering a local used car buying service targeting loans under $20k in Washington state only. I hate haggling with dealers in this area. But the only way I can avoid it is by buying new through one of the above services. I would love to have a service go to bat for me for used vehicles. Plenty of perfectly fine used cars in the $10k to $20k range.
Anyone who qualifies for a used car loan can get their first inspection free with a local mechanic. You could find ASE certified mechanics in every WA zip code who would appreciate the lead generation. Great way to attract buyers of private listings like Craigslist who regular car buying services would not attract.
Also, what about an internal listing service for BECU members only - buy / sell / trade cars and rec vehicles? USAA has something similar, ideal interface would look like theirs or cargurus.com
Thanks for the thoughtful elaboration, @jvwelch! I'm with you on haggling - it's always a total drag during such an exciting purchase!
@jvwelch- Great news! Used vehicles are also included in the Auto Buying Program and there's also no floor on the cost of used autos, so they don't need to be a certain amount for you to take advantage and benefit from the program. Check back for updates as we look to launch this new program. Cheers, KristinA
@jvwelch- Thanks for your detailed feedback, check out a sneak peek of the new program here. Cheers, KristinA