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 App blog purchasing a Peloton bike without financing costs about $3,000 when you add in delivery, $468 class subscription fees for the first year ($39 per month), $125 for clip-in shoes, exercise mat, etc.  Way outside of my budget.

0% APR Financing:  While a 0% down APR sounds like a great detail, the devil is in the details.  For qualified buyers, Peloton allows  you to make 39 monthly payments of $64 for the Peloton Bike+ or $49 for the Peloton Bike (the original). In addition to the cost of the bike, shoes, etc. to qualify for the 0% financing you need to commit to a 39-month class subscription of $39/mo. totaling $1,521.   By my math the grand total over the 39-month period will be almost a $4,053 – $4,455 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!  This was my biggest hang-up (no pun intended) – what if I simply didn’t like it or got bored with it?

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 $111.  There is also the $39 monthly fee  totaling $1,521 (similar to the bike financing).

So what do I do?

Like I mentioned, I cannot afford the Peloton bike.  So instead I stream the Peloton App to my TV and ride my lovely (and much less expensive) Sunny bike.  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 of the bike!  I think I would rather spend it on some nice books for my Kindle which I sometimes read while on my bike.

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

UPDATE: I’ll tell you what is a good deal…this awesome disco ball for your rides.

Happy Cycling!


My Peloton Bike Alternative; A Great Money Saving Hack 10

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November 7, 2017 5:54 am

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

November 21, 2017 11:37 am

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

November 22, 2017 9:00 pm

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

December 4, 2017 5:59 am

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.

December 8, 2017 3:45 am

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

May 18, 2019 8:37 pm

I also stream Peloton digital on my laptop, tablet and PC ((connected to my big screen tv)). My trainer at my gym loves the fact I have it and he doesn’t have to tell me what cardio to do; since all, I have to do is login and pick my workout! I use it at home for the yoga and stretching routines. I love the app but I wish they had workouts for the elliptical cross-trainer too. But the instructors are fun and very engaging to keep you motivated!

July 10, 2019 1:34 pm

What bike is this? The one you’re using

November 19, 2020 8:13 pm

I don’t understand the down side to getting the 0% financing Re: just in case you get bored and stop using it?

You are in the same position even if bought it all outright.

You still get the same return period regardless of how you buy.

Also, the option is to sell the bike and pay off the loan early.

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