What to Consider Before Buying a Used Peloton

When my cheap Amazon spin bike broke, I wanted to buy something better. But even though I was already following Peloton videos on the company’s app, I thought getting a real Peloton was out of reach. However, as I shopped, I began to change my mind: even a good spin bike from another brand will start in the triple digits, and it turns out that Pelotons can be rented or even bought used. So began my search for a cheaper Peloton, and I ended up buying a used model that I’m very happy with.

Mine was $950 in the 2022 Facebook Market sale. If I had taken the time to shop around and negotiate more, I probably could have found it cheaper. (Used Pelotons are much cheaper now than they were back then.) But before I could find a bike to buy, there were a lot of questions that needed to be answered. Let me take you on a tour of the shopping process.

Difference Between Peloton Bike and Bike+

Before you start shopping, you need to know whether you want the Peloton Bike or the Peloton Bike+. The bike is what you’d probably think of as a regular Peloton; The Bike+ has some extra features and costs about $1,000 more (new). I knew from the start that I wanted a regular bike, so that narrowed down my purchases.

I’ve put together a complete guide to the differences between the Peloton Bike and Bike+ , but the biggest differences between the two models are:

• Bike+ has a rotating touchscreen so you can do strength training or yoga next to the bike, instead of standing behind it and craning your neck to see through the seat. However, Peloton’s All-Access membership also allows you to watch strength and yoga classes from your phone or other device, so that’s nice but not a necessity.

• Bike+ can automatically adjust resistance as you follow the lesson. On a regular bike, you’ll have to listen to the instructor tell you what resistance to use and turn the knob yourself.

• The Bike+ has a slightly larger touchscreen (24 inches vs. 22 inches) and a nicer audio system. It also has nicer components, including a faster processor and more RAM.

Do I have to pay a subscription fee to use Peloton?

Peloton bikes are designed to be used with an all-access subscription. It costs $44 per month and gives you access to spin classes of all types, scenic rides, and Lanebreak rides (Lanebreak is essentially a video game you play while riding a bike). As noted, the All-Access subscription also gives you the ability to take classes from the Peloton app using your phone or other devices.

If you don’t have a subscription, you can still use the bike in Just Ride mode, which shows a simple black screen and some basic metrics: cadence, resistance, power and time. So if you just want to work out but don’t care about consuming Peloton-branded content, you can still do it without paying a monthly fee.

How much would you pay for a used, new or refurbished Peloton, or just a rental?

All prices I discuss in this section are current as of May 2024 and are subject to change.

• Used Peloton bikes vary greatly in price and quality. Some are gently used and come with accessories; others may be cheaper but have significant wear and tear. I’m currently seeing asking prices ranging from $500 to $750 for the standard Bike model and $1,000 to $1,600 for the Bike+ (subscription not included, of course).

• New Peloton bikes cost $1,445 for the bike alone, or $1,650 for a “starter” package that includes shoes, dumbbells, a water bottle and a mat. (The Bike+ costs $2,495, or $2,700 with the Starter package.) Both options include delivery and installation, as well as a 12-month warranty. They don’t include the $44 per month All-Access subscription, which you’ll need to take the platform’s famous video tutorials.

• Peloton Bike rental costs $89 per month ($119 per month for Bike+), plus a one-time delivery and installation fee of $150. The rental includes a pair of cycling shoes and a subscription fee for video content. There is also a guarantee for the entire subscription period.

• Peloton -certified refurbished bikes currently cost $995 for the Bike and $1,595 for the Bike+. Both represent significant savings over brand new ones. Otherwise, the conditions are the same as for new bicycles: warranty and delivery costs included; your all access subscription is not.

As you might expect, used bikes are cheaper than refurbished ones, and refurbished ones are cheaper than new ones. Where do rents fall? We need to crunch a few more numbers to see.

Is leasing a Peloton better than buying new or used?

I was thinking about renting even before I started buying used bikes. If you’re not sure if you need a Peloton at all or are planning on moving soon, renting may be worth it. Peloton will send someone to pick up your bike for free if you decide you no longer need it. The rental car can be new or refurbished—Peloton sends you everything they have, although they promise it will be in good condition, even if it has a few dents or scratches. It is possible to rent both Bike and Bike+. Below I will talk about the prices for a regular bike.

What you need to know about renting a Peloton

You have the option to purchase a lease at any time, and the price varies depending on how long you rent. If you decide to buy the bike when it’s delivered, it will cost you $1,295. At this point, you’ll have already paid $150 for shipping and maybe $89 for the first month’s rental, which means the bike will actually cost $1,534—similar to the full price of a brand new bike. (Remember that your rental bike may be new or a refurbished model that sells for less.)

Over time, the deal remains about the same: after a year, the buyout price is only $895, but you’ll already pay $1,218 in rent (including shipping costs). That’s $2,113, but you’ve been saving $44 per month all along with an All-Access subscription. When you take that into account, you paid the same amount in total as if the bike had originally cost $1,585.

This means that buying a new bike at full price will cost you slightly more than renting and then buying a leased bike. The calculation shifts in favor of buying new if you happen to catch a sale on a bike or if you overpay for your lease because you didn’t pay attention to the buyout calendar—the buyout price is $895 anytime from 12 to 24 months after the lease starts, so much more It is more profitable to buy in 12 months than in 23.

If you’re not sure whether you’ll need a bike long-term : rent one and take advantage of free pickup when you’re done with it. If you like it, you can buy it back at one of the price cuts that occur after three, six, 12 or 24 months.

If you’re sure you’ll keep your bike for years to come : choose new, refurbished or used, depending on your preference.

Are used Peloton bikes a good deal?

I ended up buying mine used, so I’d say it’s definitely there. But this depends on several factors.

The first thing to consider is the resale price. When I bought mine, $950 was a great deal compared to new, lease and repair prices. Since then, prices on the used market have dropped , and Peloton is offering its refurbished models for less than before. Sales have also become more frequent.

At least for now, prices on used Pelotons are still high enough that you’ll be able to get a significant amount of your money back if you decide to sell your Bike or Bike+. That was a big part of my calculation: a used Peloton doesn’t depreciate instantly like a new car. However, prices slowly fell. If I wanted to sell my bike for $950 now, I’d probably get $600 back at best.

However, there are two other factors you may want to consider besides price that will influence how much of a deal you’ll get if you buy a used car.

Used bikes do not come with a warranty

New and refurbished Pelotons come with a 12-month warranty that covers the touchscreen, parts (including pedals) and labor. If anything breaks, you simply contact customer service and they will send someone to fix your bike.

The warranty does not transfer to new owners. So, even if the original owner owned the bike for less than a year, you will not be able to take advantage of the remaining warranty time. However, if the original owner purchased an extended protection plan, which can last up to a total of four years, it can be transferred. Only the original owner can purchase this plan and only during the first year of owning the bike; you won’t be able to buy it yourself if you buy a used bike. If you’re buying used bikes and the owner hands over a protection plan, be sure to get an order confirmation number and don’t be surprised if the asking price is a little higher than other used bikes to account for additional owner costs.

Without a warranty or protection plan, you will be responsible for any repair costs, including labor. I had to replace the bearings on my bike shortly after I received it, and I think I paid Peloton about $45 to send me the correct part. Luckily it was easy to install. On the other hand, if something goes wrong with the touchscreen, it will cost $375 to replace, not including labor.

Used bikes may have wear and tear.

A bike is a collection of moving parts, and if you love your Peloton, you’ll put a lot of miles on it. This means a lot of wear and tear.

Peloton bikes tend to be quite durable, and indoor bikes don’t accumulate as much damage as the ones you ride outside. But it’s still worth considering when you might need to replace parts. If you are buying a used bike, you should check the following parts for wear:

• Pedals should be replaced every year, at least according to Peloton, although most Peloton owners don’t seem to worry about it. (They certainly seem to last much longer, but the company is likely mindful of the 2020 recall in response to pedal failures that injured some riders.)

• Speaking of recalls, the seatpost on all Peloton bikes was recalled this year because it could break. If you buy used, make sure the owner installed a new rack.

• The bearings in the center of the flywheel do not last forever. You can expect them to last about a year of regular use, although this can vary greatly. If your used bike is a few years old and hasn’t been replaced yet, it’s probably due for a refurbishment. When the bearings start to fail, the bike will still work, but it will make a rattling noise while riding.

• Cosmetic damage can also be a problem. A used bike may have dents or scratches, scuffed areas on the handlebars, and so on. Refurbished bikes may have minor cosmetic issues; when it comes to a used bike, all bets are off.

How old is the bike?

Peloton only has two bike models, making the purchasing process simple. Both the original Bike and Bike+ have a large touchscreen that plays workout videos and displays your ride stats.

The models haven’t changed much over the years, with one exception. Generation 1 bikes are no longer supported ; the software on their touchscreens will no longer be updated. These bikes have an orange power button at the top of the touchscreen and were manufactured before September 2016. If you have a bike with this touchscreen and you’re a paying member of Peloton (even if you weren’t the original owner), Peloton will give you a $350 credit toward a new, state-of-the-art touchscreen.

As long as the used bike doesn’t have the old touchscreen, any model you buy used will be basically equivalent to what’s on sale now. Please note that some bikes may have “Generation 1” listed in their used listings, but as long as their touchscreen has a gray button on the back rather than an orange button on the top, they should be fine.

Where to Find Used Peloton Bikes

There are a lot of them for sale on places like Facebook Marketplace and Craigslist, and there are also Facebook groups associated with Peloton that allow members to post bikes for sale. Check everywhere you look for used items, such as OfferUp and local search options on Ebay.

As with any sale on these platforms, beware of scams. When I was looking through the listings to update this post, I found a bunch of bikes priced at $129 with a description that praised the site the seller originally bought it from. Yes, it was just an advertisement for a site that, as it turns out, didn’t sell Pelotons at all, but haha! Made you look! Either way, make sure you’re dealing with a real person and don’t pay anything until you’ve seen the bike in person and are sure you want to buy it.

What to ask a used bike seller

When you’re looking at a specific used bike, Peloton’s history tool (still in beta) can tell you about the history of the bike, or bike+ if you know the serial number . You’ll have to ask the seller for the number and then cross your fingers and hope it’s one of the bikes included in the beta program. Additionally, here are a few things to ask to make sure you get a good deal.

Are you the original owner?

There’s nothing wrong with buying a bike that’s had several owners, except that it’s harder to document where it actually came from. Peloton recommends asking the owner to show you proof of the original purchase. They warn that rental bikes should not be sold, and if you buy them, you will not be able to activate a subscription to it.

This question can also start a conversation about why they are selling this bike and how well it has worked for them over the years. Which brings us to…

How many trips has this bike made?

There will be a difference in wear and tear between a bike that has been ridden a few times and a bike that is used for several hours every day. You don’t need to know the exact number, but it can be helpful to get an idea of ​​how long the bike has been in use.

The bike does not have an odometer, but you can find out when it was purchased and how many rides the owner has ridden it. (Their Peloton profile will show how many rides they’ve taken, but remember that they may also have family members who ride too.) Once the Peloton history tool comes out of beta, it will be able to provide you with this information as well. .

Have the recalled parts been replaced?

Peloton Bikes (but not Bike+) seatposts were recalled in 2023 . Although the rollout has been slow, most people should have received the new ones by now. You can check if the seatpost is the newest type by looking at the lowest measurement line on the post .

While you’re at it, check to see if the pedals have the orange Peloton logo. If so, then they were part of the 2020 pedal recall and should have been replaced.

This is also a good time to ask about renovations in general. Was anything broken, and if so, was it fixed and when? Does the motorcycle have ongoing problems?

Can I ride it?

Get on your bike (don’t worry about shoes yet) and pedal. Do they move smoothly, without clunking sounds that could indicate bad bearings? Does the big red knob turn smoothly? Are there any chips or cracks on the screen?

Peloton also recommends checking that the adjustment arms and screws move smoothly and that there are no signs of overtightening, such as cracks. Make sure the power cable is in good condition and the bike is clean and looks well maintained.

How to Move Peloton

If you decide to take your bike home with you, proceed with caution. These suckers are heavy , weighing about 140 pounds. Most of this weight is on the front flywheel, so keep that in mind when carrying it with a partner.

Peloton has a guide to moving bikes here . It’s important to note that you’ll need to remove the touchscreen first. I wrapped mine in towels and placed it on the front seat of the car; the rest of the motorcycle remained behind. They also recommend removing the water bottle holders and the cage on your back that holds the dumbbells. Lower the handlebars and seat to their lowest position and tighten all adjustment levers to ensure nothing moves during transport. I haven’t removed the pedals, but they say I need to.

How to transfer a Peloton to a new owner

Peloton recommends resetting your motorcycle to factory settings before it changes hands. Go to Settings > System > Factory Reset. When setting up your bike at home, follow the onscreen instructions to register your bike and set up a new subscription.

If you already have a subscription to the Peloton app, be sure to cancel it; this doesn’t always happen automatically.

What else do you need to buy to enjoy your Peloton?

You will need cycling shoes . They don’t have to be Peloton brand (the standard Peloton shoes suck, to be honest), but they do need Delta LOOK cleats to fit the pedals. However, you can replace the pedals with others if you prefer. If you plan on riding a lot, padded cycling shorts are also a good option.

Peloton cycling classes sometimes include small hand weights; they should come with your bike. However, if you want to do strength training, you will need larger dumbbells. Peloton makes its own brand of dumbbells with square ends, but you can use any dumbbells you want to buy at the store for your workout.

You can place a mat under your bike to protect the floor from sweat drops. You’ll probably also need a towel, a water bottle, and maybe a heart rate chest strap to sync with the bike (even my cheap strap syncs just fine).

Spin instructor (and Lifehacker features editor, we’re so lucky) Lindsay Ellefson offers a more comprehensive guide here on what you might want to buy to get the most out of your new Peloton .

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