A Honda Ridgeline Lease: Everything You Need To Know
Ridgeline by Kevauto — CC-BY-SA-4.0
The Honda Ridgeline is a quality, mid-size pickup truck. It’s the only Honda on the market that has a cargo bed, ideal for carrying everything from groceries to lawn care equipment. If you’re interested in this vehicle for your life, you might wonder if a Honda Ridgeline lease is the right choice for you.
Read on to learn more about a Honda Ridgeline lease. This approach is different from outright buying a vehicle, so you must have a full understanding of what you’re getting into before you sign any papers.
What is the Average Cost to Lease vs. Buy?
When you go to get a Honda Ridgeline, you have two different options. You can buy the car, or you can invest in a Honda Ridgeline lease. Each can benefit different people for varying reasons. Only you can decide which is best for your life.
According to truecar.com, the average cost to lease versus buy a Honda Ridgeline is :
- To buy for three years: Around $650 a month
- To lease for three years: Around $465 a month
This price point can vary depending on extra features and the version of the vehicle you may invest in for your home.
Leasing is more affordable if you intend to keep the car for no more than three years. You’ll never get to own the item, but your monthly payments will be significantly lower than if you decided to buy the car.
If you keep your Honda Ridgeline lease for more than three years, it will inevitably be more expensive than if you purchased the vehicle outright. If you want to keep it for a long time, you should buy the car instead of leasing it to save money.
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Pros and Cons of Leasing the Honda Ridgeline
Whenever you’re paying for something, there are going to be pros and cons that come with it. It’s vital to understand each of these to ensure you know exactly what you’re dealing with when investing in a Honda Ridgeline lease.
Next, we’ll dive into these a little more in-depth so you will be familiar with what you’re dealing with in a lease. It’s critical to know the good and bad of any situation, so you’re left ready for what’s to come.
Pros of Leasing the Honda Ridgeline
There are a few great things that come with leasing a Honda Ridgeline. We’ll go over these first, so you can be familiar with all the good that comes with a lease.
According to rockhonda.com, two of the benefits you will receive with a Honda Ridgeline lease are:
- New cars every few years
- Repairs are covered
Each of these is sure to benefit your leasing experience.
Next, we’ll talk about each of these a little more in-depth. You can compare these to the cons we’ll discuss later to see which matters more to you when investing in a method of transportation.
New Cars Every Few Years
When you lease a Honda Ridgeline, you’re not tied to the same model for years and years. As the vehicle updates, you can turn in your car as soon as the lease is up and get a new one for the better model.
Many will love the fact that you’re not tied down with a lease. Rather, you get to test many options without being stuck with a car you purchased. You’ll never own, but you’ll never have to deal with just one vehicle.
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Repairs Are Covered
With a lease, most of your repairs are covered through insurance provided by the car. You don’t need to worry about expensive repairs or replacements while you’re leaving a Honda Ridgeline.
Of course, it’s vital to make sure your vehicle is taken care of at all times. We’ll talk about this a little later on.
Cons of Leasing the Honda Ridgeline
We’ve talked about the good things that come with a Honda Ridgeline lease. But, what about the bad? It’s just as critical to understand these so you can decide for yourself if the lease is worth it for you.
According to wildeeasttownehonda.com, some of the cons that come with a Honda Ridgeline lease include:
- Necessary excellent credit
- Wear and tear costs money
These cons can steer some away from a Honda Ridgeline lease.
We’ll dive a little further into each of these cons so you can understand what you’ll be getting into with a Honda Ridgeline lease. There’s a lot to consider, and cons are a big part of the equation.
High Credit Scores Are Needed
Unfortunately for those who struggle to keep their credit high, most dealers require those who want to lease to have great credit. Without this, you may find it impossible to find someone who will hand a lease over to you.
Of course, you can always build your credit score. Start now, so that by the time you want to lease a car, your credit score will be at an appealing level that dealers will find appealing.
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Wear and Tear Will Cost You
When you lease a car, most of the repairs are covered through insurance. However, you’ll need to ensure the vehicle is in tip-top shape for as long as you own it. Any damage that remains when you turn in the car will result in hefty fines that will come straight from your pocket.
If you tend to damage vehicles, keep this in mind before you get a Honda Ridgeline lease. You will need to pay for this before you can decide on your next car.
Conclusion
A Honda Ridgeline is one of the biggest Hondas out there. It’s an excellent option if you want a smooth ride, but it can be a little expensive to buy the vehicle outright. Many may be curious about the Honda Ridgeline lease and if it’s the correct option for them.
With a lease, you’ll get benefits like lower monthly payments and covered repairs. However, you’ll also have to deal with paying for wear-and-tear and keeping a great credit score. There’s a lot to consider, and only you can decide which is the best choice for you.
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