2021 Honda Ridgeline Debuts With 0% Financing Deal

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - February 3, 2021

Even though dealers are only now beginning to receive the revamped Honda Ridgeline, newly-released incentives reveal that the automaker is introducing the truck with 0% financing. This marks a noteworthy development following the brand's introduction of its first-ever interest-free financing deals just last month.

According to a bulletin sent to dealers yesterday, all versions of the 2021 Ridgeline feature 0% APR for 36 months, with 48 and 60-month options at 0.9% and 1.9%, respectively. There are no incentives for leasing, so shoppers looking to be among the first to bring one home could find buying to be a much better option.

Even though 0% APR deals are common among competitors, Honda's decision to offer its newest model with 0% financing is extremely unusual. After all, the brand only began offering interest-free loans a month ago. With Presidents' Day around the corner, this could present a compelling deal for truck shoppers.

But is this really a good deal? At the same time, the 2021 Chevy Colorado currently features 0% APR for 72 months plus $900 in down payment assistance from GM Financial. You can even get a $750 bonus when coming from a competitor for $1,650 in savings plus no interest for up to 6 years.

Leasing a Ridgeline may be a non-starter for value-oriented shoppers. Honda's online payment estimator lists the Ridgeline Sport at $501 for 36 months with $501 at signing (10k mi/yr). With an effective cost of $515, that's actually pricier than the featured lease on the $46,000 RAM 1500 Big Horn here in California ($499).

If you're looking for a deal, 2020 Ridgelines are still in stock in most parts of the country and continue to offer 0% APR for 60 months or 0.9% for 72. Compared to the latest version of the model, the difference in 60-month rates could make the outgoing truck nearly $2,000 cheaper to buy in the case of a $40,000 pickup.

So is the newest style really worth the extra cost? That'll be something buyers may want to consider ahead of the Presidents' Day holiday.

Current Honda offers end on March 1, 2021.

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, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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