Buzz
After my budget-friendly Amazon spin bike gave out, I decided it was time for an upgrade. Although I was already using the Peloton app for workout videos, owning an actual Peloton seemed financially out of reach. However, as I explored my options, I realized that even high-quality off-brand spin bikes cost several hundred dollars, and Pelotons could be rented or bought second-hand. This discovery led me on a journey to find an affordable Peloton, and ultimately, I purchased a used model that I’m thrilled with.
Comparing the Peloton Bike and the Bike+
Before diving into your search, it’s essential to decide whether you want the Peloton Bike or the Bike+. The standard Bike is the classic model most people envision, while the Bike+ offers extra features and comes with a $1,000 higher price tag when bought new. From the outset, I was certain I wanted the basic Bike, which simplified my shopping process.
I’ve compiled a comprehensive breakdown of the distinctions between the Peloton Bike and the Bike+, but the most notable differences between the two are:
The Bike+ features a swivel touchscreen, allowing you to participate in strength or yoga classes beside the bike rather than straining to see over the seat from behind. However, since an All-Access Peloton membership lets you stream these classes on your phone or other devices, this feature is convenient but not essential.
The Bike+ can automatically change resistance levels during classes, whereas the regular Bike requires you to manually adjust the knob based on the instructor’s cues.
The Bike+ boasts a larger touchscreen (24" compared to 22") and an enhanced sound system. It also includes upgraded components, such as a faster processor and more RAM.
Is a subscription required to use a Peloton Bike?
Peloton Bikes are designed to work with an All-Access subscription, priced at $44 per month. This subscription unlocks a variety of spin classes, scenic rides, and Lanebreak rides (a gamified riding experience). Additionally, it allows access to Peloton app classes on your phone or other devices.
Without a subscription, you can still use the Bike in “Just Ride” mode, which displays a simple black screen with basic metrics like cadence, resistance, output, and time. If you’re solely focused on working out and don’t need Peloton’s branded content, you can skip the monthly fee.
Cost breakdown for used, new, refurbished, or rented Peloton bikes
The prices mentioned here are accurate as of May 2024 and may vary over time.
Used Peloton Bikes come in a wide range of prices and conditions. Some are nearly new and include extras, while others are priced lower but show noticeable wear. Currently, standard Bike models are listed between $500 and $750, while the Bike+ ranges from $1,000 to $1,600 (excluding the subscription).
New Peloton Bikes cost $1,445 for the Bike alone or $1,650 for a “Starter” bundle, which includes shoes, weights, a water bottle, and a mat. (The Bike+ is priced at $2,495 or $2,700 with the Starter package.) Both options cover delivery, setup, and a 12-month warranty but exclude the $44/month All-Access subscription required for video classes.
Peloton Bike rentals are available for $89/month ($119/month for the Bike+), plus a $150 delivery and setup fee. The rental includes cycling shoes and the subscription for video content, along with a warranty for the rental period.
Peloton certified refurbished bikes are priced at $995 for the Bike and $1,595 for the Bike+, offering substantial savings compared to new models. These come with the same warranty and delivery terms as new bikes but exclude the All-Access subscription.
As expected, used Bikes are the most affordable, followed by refurbished, and then new. But how do rentals compare? Let’s dive deeper into the numbers to find out.
Is renting a Peloton more cost-effective than buying new or used?
Before exploring used Bikes, I considered renting. If you’re unsure about committing to a Peloton or planning to relocate soon, renting could be a smart choice. Peloton offers free pickup if you decide to return the Bike. Rentals may include new or refurbished units, and while they might have minor cosmetic flaws, Peloton ensures they’re in good working condition. Both the Bike and Bike+ are available for rent, and I’ll focus on the regular Bike’s pricing below.
Key details about renting a Peloton
You can purchase your rental Bike at any time, with the price depending on the rental duration. Buying immediately after delivery costs $1,295, plus the $150 delivery fee and the first month’s $89 rental fee, bringing the total to $1,534—close to the price of a new Bike. (Note that your rental could be either new or refurbished, with refurbished models typically priced lower.)
Over time, the buyout deal remains consistent. After a year, the buyout price drops to $895, but you’ll have already paid $1,218 in rental and delivery fees. This totals $2,113, but you’ve saved $44/month on the All-Access subscription. Factoring this in, the effective cost is equivalent to paying $1,585 upfront for the Bike.
Buying a new Bike outright costs only slightly more than renting and later purchasing the rental. However, buying new becomes more advantageous if you find the Bike on sale or if you delay the buyout beyond 12 months. The buyout price remains $895 between 12 and 24 months, so purchasing at 12 months is far better than waiting until the 23rd month.
If you’re uncertain about keeping the Bike long-term: Opt for a rental and benefit from the free pickup service when you no longer need it. If you enjoy using it, consider purchasing it during one of the price reductions, which happen at three, six, 12, and 24 months.
If you’re confident you’ll use the Bike for years: Choose between new, refurbished, or used options based on your preferences.
Are pre-owned Peloton Bikes worth it?
I purchased mine second-hand and found it to be a great deal. However, this depends on several factors.
The first factor to evaluate is the resale price. When I was shopping, $950 was a fantastic deal compared to new, rental, and refurbished prices. Since then, used market prices have declined, and Peloton has reduced the cost of their refurbished models. Additionally, sales have become more frequent.
Currently, used Peloton prices remain high enough that you can recoup a substantial portion of your investment if you decide to sell your Bike or Bike+. This was a key factor in my decision-making: Unlike a new car, a used Peloton doesn’t lose value immediately. However, prices have been gradually declining. If I sold my $950 Bike today, I’d likely get around $600 at most.
Beyond price, there are two additional factors to consider when evaluating the value of a used Peloton purchase.
Used Bikes don’t include a warranty
New and refurbished Pelotons come with a 12-month warranty covering the touchscreen, parts (such as pedals), and repair labor. If an issue arises, you can contact customer support, and they’ll arrange for a technician to fix your Bike.
The warranty isn’t transferable to new owners. Even if the original owner has had the Bike for less than a year, you won’t benefit from the remaining warranty period. However, if the original owner bought an extended protection plan—lasting up to four years—it can be transferred. Only the original owner can purchase this plan within the first year of ownership; you can’t buy one for a used Bike. If you’re buying used and the owner is transferring a protection plan, ensure you get their order confirmation number, and expect the price to be slightly higher to reflect the added value.
Without a warranty or protection plan, you’re responsible for all repair costs, including labor. Shortly after purchasing my Bike, I had to replace the bearings, which cost me around $45 for the part from Peloton. Thankfully, installation was straightforward. However, if the touchscreen were to fail, replacing it would cost $375, excluding labor.
Used Bikes may show signs of wear and tear
A bike consists of numerous moving parts, and frequent use will inevitably lead to wear. If you’re an avid Peloton user, you’ll put significant mileage on it, accelerating this process.
Peloton Bikes are generally durable, and indoor bikes don’t suffer the same wear as outdoor models. However, it’s still important to consider potential part replacements. When purchasing a used bike, inspect these components for wear:
The pedals should ideally be replaced annually, according to Peloton, though many users skip this. (They often last longer, but the recommendation stems from a 2020 recall due to pedal breakages that caused injuries.)
Regarding recalls, the seat post on all Peloton bikes was recalled this year for potential breakage. Ensure the seller has installed the updated post if you’re buying used.
The bearings in the flywheel’s center have a limited lifespan, typically lasting about a year with regular use. If the Bike is older and hasn’t had them replaced, this repair is likely overdue. Worn bearings cause a rattling noise but don’t render the Bike unusable.
Cosmetic damage is another consideration. Used bikes may have scratches, dents, or worn handlebars. Refurbished models might show minor flaws, but used bikes can vary widely in condition.
When is a Peloton Bike considered too old?
Peloton offers just two bike models, simplifying the shopping process. Both the original Bike and the Bike+ feature a large touchscreen that streams workout videos and displays ride statistics.
The designs have remained largely consistent, with one key exception. Generation 1 Bikes are no longer supported; their touchscreen software won’t receive updates. These bikes, identifiable by an orange power button on the touchscreen’s top, were produced before September 2016. If you own one and are a paying Peloton member (even if not the original owner), Peloton offers a $350 credit toward a new touchscreen.
As long as the used Bike doesn’t have the outdated touchscreen, any model you purchase will be comparable to current offerings. Some listings may label bikes as "gen 1," but if the touchscreen has a gray button on the back instead of an orange one on top, they’re still viable.
Where to shop for used Peloton Bikes
As with any online marketplace, be cautious of scams. While updating this post, I encountered numerous listings priced at $129 with glowing descriptions of the seller’s original purchase site. These were actually ads for unrelated sites—no Pelotons for sale! Always verify you’re dealing with a legitimate seller, and never pay until you’ve inspected the Bike in person and confirmed it meets your expectations.
Questions to ask when buying a used Peloton Bike
When evaluating a specific used Bike, Peloton’s beta history tool might provide details about the Bike or Bike+ if you have the serial number. Request the serial number from the seller and hope it’s part of the beta program. Additionally, here are some key questions to ensure you’re making a smart purchase.
Are you the first owner?
Buying a Bike with multiple owners isn’t inherently problematic, but it complicates tracing its origin. Peloton advises asking the seller for proof of the original purchase. They also caution that rental Bikes aren’t meant to be resold, and purchasing one may prevent you from activating a subscription.
This question can also open a dialogue about the seller’s reasons for selling and their experience with the Bike over the years. This leads us to...
How frequently has this Bike been used?
The level of wear-and-tear will vary significantly between a Bike used sparingly and one ridden daily for hours. While an exact count isn’t necessary, understanding its usage history is helpful.
The Bike doesn’t have an odometer, but you can inquire about its purchase date and the number of rides the owner has completed. (Their Peloton profile shows their ride count, but remember other household members may have used it too.) Once Peloton’s history tool exits beta, it should provide this information as well.
Have any recalled components been replaced?
Peloton Bikes’ seat posts (excluding the Bike+) were recalled in 2023. While the replacement process was gradual, most owners should have received the updated version by now. You can verify if the seat post is the latest model by inspecting the lowest measurement line on the post.
While checking, look for an orange Peloton logo on the pedals. If present, they were part of the 2020 pedal recall and should have been replaced.
This is also an opportunity to inquire about any repairs. Has anything malfunctioned, and if so, was it repaired and when? Are there any persistent issues with the Bike?
Can I test ride it?
Take a seat on the Bike (no need for cycling shoes yet) and pedal. Do the pedals rotate smoothly without clanking sounds that might suggest worn bearings? Does the large red resistance knob turn easily? Is the screen free of chips or cracks?
Peloton also suggests ensuring the adjustment levers and screws operate smoothly, with no signs of over-tightening such as cracks. Inspect the power cable for damage, and confirm the Bike is clean and appears well-maintained.
How to transport a Peloton Bike
If you decide to take the Bike home, handle it with care. These bikes are heavy, weighing around 140 pounds, with most of the weight concentrated in the front flywheel. Keep this in mind when lifting it with a partner.
Peloton provides a detailed guide for moving Bikes here. Key steps include removing the touchscreen first—I wrapped mine in towels and placed it in the car’s front seat, while the rest of the Bike went in the back. They also recommend detaching the water bottle holders and the rear dumbbell cage. Lower the handlebars and seat to their minimum height, and secure all adjustment levers to prevent movement during transit. While I didn’t remove the pedals, Peloton advises doing so.
How to transfer ownership of a Peloton
Peloton advises performing a factory reset on the Bike before transferring ownership. Navigate to Settings > System > Factory Reset. Once you set up the Bike at home, follow the on-screen instructions to register it and activate your new subscription.
If you already have a Peloton app subscription, ensure you cancel it, as this doesn’t always happen automatically.
Additional items to enhance your Peloton experience
You’ll need cycling shoes. They don’t have to be Peloton-branded (the standard Peloton shoes aren’t great, to be honest), but they must have Delta LOOK cleats to fit the pedals. Alternatively, you can replace the pedals with a different type if desired. For frequent riders, padded cycling shorts are also recommended.
Peloton’s cycling classes occasionally use small handheld dumbbells, which should be included with your Bike. For strength classes, however, larger dumbbells are recommended. Peloton offers its own square-ended dumbbells, but standard store-bought dumbbells work just as well for the workouts.
Consider placing a mat under your Bike to shield your floor from sweat. You’ll also likely need a towel, a water bottle, and possibly a heart rate chest strap to sync with the Bike (even my budget-friendly strap works perfectly).
Spin instructor (and Mytour features editor—we’re fortunate!) Lindsey Ellefson offers a comprehensive guide here on essential items to maximize your Peloton experience.
