But there’s good news: If you still want to ride but prefer to do it on a budget, it’s worth looking into buying a secondhand Peloton. Here’s how to (and where) to find one.
Does Peloton sell used bikes?
As of right now, Peloton does not sell used bikes or treadmills (although their treadmills were just recalled, so you might want to hold off on that anyway!) That being said, it is something the company is planning to do in the future. “We do have plans to offer a CPO program [certified pre-owned program]… and that will be in the future,” Peloton CEO John Foley said in September 2020. Foley did not give a specific timeline, but he did say it would happen “in the coming years.” Also on Peloton’s to-do list? Potentially adding an option to rent a bike or treadmill. “Five or 10 years from now I would be surprised if it wasn’t,” Foley said of the option to rent a Peloton bike or treadmill. “It’s not something you are going to see in the next year. But I love moving in that direction.” Foley added, “It’s all in the name of affordability for our members—our current members and our new members.”
How to find a secondhand Peloton
With the future of Peloton something to look forward to, you may be wondering: What can you do to afford a Peloton now? There is the option of finding a secondhand Peloton, but you have to know where to look. According to Peloton’s official website, “Peloton is in no way affiliated with or responsible for any secondary sales of Peloton Bikes or memberships and does not sponsor or endorse any secondary marketplace. Please be aware that if you purchase a used Peloton Bike, the warranty is not transferable.” The website continues to explain, “While we do not endorse any particular buying platform (or help with the process), below are examples where current Members have purchased a used Peloton Bike.”
Where to find a secondhand Peloton
Peloton Members have found secondhand Peloton bikes at the following online locations:
Craigslist: Craigslist—a local online marketplace—is one of the best online spots for nabbing a Peloton bike secondhand. Inventory depends on your location, of course, but on average, a used Peloton bike crops up on the site at least once a week (again, it depends where you are). Bikes usually cost anywhere from $1,500 to $1,600 and if you know you’re wanting to make a Peloton purchase, you can even set up an alert through Craiglist that lets you know each time one is listed.Ebay: Ebay is a national online marketplace where Members have sometimes found secondhand Pelotons. Right now, the Peloton Bike (and Bike+) listings range from $1,099 to $2,000.Facebook Marketplace: Marketplace is a relatively new feature of Facebook—think like a Craigslist add-on onto FB. It’s a location-based shopping service built into your profile where you can check out local used Peloton listings. It’s a great option for finding a secondhand Peloton and like a lot of other items on there, FB Marketplace is known for its super cheap prices.Letgo: Letgo is another local online marketplace that lets you connect with sellers in your nearby area. Again, it depends on what’s listed in area, but you can sometimes find used Peloton bikes on the app for discounted prices.Peloton Buy Sell Trade Facebook Group: It’s an unofficial FB group, not technically affiliated with Peloton, but it’s a great resource for Members to find local pickups.
How much is a secondhand Peloton?
However, it is important to note that a warranty cannot be transferred from the original Member. Based on what we’re seeing on different sites, secondhand Pelotons can be purchased for as low as $1,400 to $1,500.
Can I buy a refurbished Peloton?
Yes. While it is possible to buy a refurbished Peloton through Peloton itself, you have to be referred through the company’s internal program, according to a Reddit thread. What that means: Refurbished bikes are only given to friends or family members of Peloton employees, Peloton employees, or employees of other companies that are affiliated with the Peloton Wellness Program. According to users on the Reddit thread, a refurbished Peloton priced out to $1,594 with tax, discounted. For context, the Peloton Bike costs $1,895 before tax and the Bike+ costs $2,495 before tax.
What to do after buying a used Peloton
After grabbing a used Peloton from any of the above marketplaces, it’s important to make sure the original owner disconnects their account. They can do this after the fact, as in after selling you the bike, but it’s a crucial step if you want your account to work. After that, call Peloton’s customer support line for help connecting your new account to the bike. Next up: New to Peloton? These are the best rides for beginners—#PelotonNewbies.
