Are you considering getting your significant other a Peloton exercise bike for Valentine’s Day? What a great idea! While prices are down for first-generation Pelotons, there are still other options to consider.
And if you are reading my blog, you are probably looking for a cheaper alternative to the Peloton. I get it – you may not be able to afford to buy a Peloton bike and/or want to pay its $39 monthly fee. I didn’t want to, that is for sure. That is where the genius of their Peloton App comes into play. For only $12.99 per month, you can access all of the same live and on-demand classes on your own bike. Brilliant. There are a bunch of other bikes out there that can be paired with the Peloton App. I tried a bunch before I bought my Sunny and here is what I found.
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.
Well, its been 6 months since I started my Peloton journey with my inexpensive Sunny bike and I could not be happier. I cannot say enough good things about the Peloton App.
I have lost weight, I am sleeping better than ever and I am much more energetic. The classes are interactive and communal but at the same time very intimate. Also, the instructors rock – they are very motivational, although I like some better than others.
I get a lot of email asking about how all the components of my “Peloton App Setup” are holding up so I thought I would post a review about some of the items that I recommended in my original post “My Peloton Bike Alternative; A Great Money Saving Hack.”
Here is what has worked well and what you can skip: