Peloton recently announced that you could now finance the purchase of a new Peloton bike.  Is it a good deal? Here are my thoughts:

Buy Without Financing:  As detailed in my earlier  Peloton blog purchasing a Peloton bike without financing costs about $3,000 when you add in delivery, $468 subscription fees for the first year, $125 for clip-in shoes, exercise mat, etc.

0% APR Financing:  While a 0% down APR sounds like a great detail, the devil is in the details.  In addition to the cost of the bike, shipping, shoes, etc. to qualify for the 0% financing you need to commit to a 39-month subscription totaling $1,521.   By my math the grand total over the 39-month period will be almost a $4,053 commitment when you add all the extras.

My take: it is a GREAT deal IF (and only if) you are confident that you will be riding the bike for 39 months.  If you are like me and are afraid that your bike will turn into another clothes hanger in 3 months, buyer beware!  If you need to finance you could probably find an introductory  0% APR credit card out there or take advantage of a balance transfer deal where you do not need to commit to 39 months of  online classes.

Note, I pretty much feel the same way about the new Peloton treadmill called Peloton Tread.  It costs $3,995 which I understand can be paid in 39 monthly installments of $110.  There is also the $39 monthly fee  totaling $1,521 (similar to the bike financing).

Here I am in action:

I love my at home Peloton alternative, the instructors, the classes, the online community  and even some of the clothes. Essentially everything but the high price!

Ok, it’s your turn. Do you think that this is a good deal? Please leave a comment. 😁

Happy Cycling!

Beth

My Peloton Bike Alternative; A Great Money Saving Hack 10

Disclaimer:  My Sipping & Shopping blog is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites.     

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10 Comments on "Peloton Cycle Financing; Is it Worth It?"

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RacquetQueen
Guest

Yikes. Do you know if you can suspend the subscription during the 39 months (for example, if you get injured, pregnant, etc.?)

TBlazer
Guest

Is that their only option do you know? Have you looked into the new Fly Wheel bike pricing?

SpinLady
Guest

Nice! Is it possible to subscribe for less than 39 months?

Amelia
Guest

Kind of an intimidating commitment to a stationary home bicycle. I am an active cyclist, participating in up to 100 mile marathons, and I didn’t spend more than $4,000 on my actual bike. But when you factor in the online classes and instructors to boost your workout commitment along, it sounds like a pretty good deal.

LGryson
Guest

I like the idea of using 0% APR credit card. Thank you so much Beth, this is a great post.