As Peloton hikes the prices of its popular home workout equipment, searches — and sales — for used Pelotons are on the rise. But are there risks when it comes to buying second hand? To help you work out whether or not a sale is worth it, here’s everything you need to know before buying a used Peloton bike or treadmill.
Peloton has also just released a new game on the Bike and Bike+. Check out our full review of Peloton’s new Lanebreak game.
Should you buy a used Peloton bike or Tread?
At the beginning of February, Peloton increased the price of its Peloton Bike from $1,495 to $1,745, and the price of the Peloton Tread from $2,495 to $2,845. The cost of the Bike+ remains the same — $2,495. The brand cited rising inflation and heightened supply chain costs for the rise in price, but it’s definitely been a rocky start to the year for the at-home fitness giant, following the death of Mr. Big, the halt in production, and the chief executive stepping down amid job cuts.
With all that in mind, buying a used Peloton can save you a hell of a lot of money, if you find a good deal. The good news is that there are a lot of sales out there, as many people sell their lockdown purchases. Used Peloton Bikes seem to be more widely available than the Peloton Tread, although this is perhaps due to the mass recall last year.
There are some things to consider beforehand, however, namely the warranty. Peloton confirms on its website that a product's warranty is not transferable, so even if you buy a relatively new bike or treadmill, you won’t be covered in case it breaks.
How much should you pay for a used Peloton?
This depends on the age and condition of the equipment, but either way, you should be paying significantly less than you would if you bought the product new. It’s a good idea to ask the buyer for proof of purchase and for an idea of how many rides or runs they’ve done to get a better idea of the wear and tear the product has been through.
When it comes to the Peloton bikes, there are three different generations of Peloton display screens and you'd expect to pay less for the older model. The newer screens are thinner, have a faster processor, more RAM, and better quality speakers. The first generation will have a model number ending in “xxxx-QUARTZ” or “001;” the second generation screens will have “RB1V1,” and third-generation bikes will have “RB1VQ.”
Remember, unless you're planning to move it yourself, you’ll also need to work out the cost of shipping the Peloton to you on top of the price, so it’s a good idea to look into this before agreeing to the sale.
Where should you shop for a used Peloton?
Peloton actually offers a few suggestions of where to shop for a used product on its website (before reminding you that you’re shopping at your own risk, of course). Local online marketplaces, such as Facebook Marketplace, Craigslist, and Letgo are a good place to start, especially as buyers are more likely to be local to you, meaning you can physically go and view the Peloton before buying, and you can pay less to get it home.
You can also look on other online marketplaces, such as eBay or Gumtree, but you’re likely to get nationwide results. Obviously, there’s more risk involved when buying a product you can’t see beforehand.
Another safe option is to ask around with neighbors and friends to see if anyone they know is selling their Bike or Tread.
Questions to ask the buyer before agreeing to the sale
So you think you’ve found a bargain, but is it too good to be true? Here’s what to ask the seller before buying.
Are you including any subscription credits?
Although the warranty cannot be transferred, Peloton does allow subscription credits to be switched between users. New or used, you’ll need to pay $40 per month to do the classes on your new bike or treadmill, so if your buyer is happy to switch their remaining membership to you, this could make the deal even better.
To switch subscription credits, your seller will need to email Peloton support (support@onepeloton.com), with both parties’ Peloton profile names or email addresses.
Are there any issues with the bike, and why are you selling it?
When buying any used gym equipment, remember that photos can lie. It’s always recommended that you go and try the product yourself, so you can feel, hear, or see if there are any issues with how it’s working, but if this isn’t an option, ask more questions. It’s also a good idea to ask for a photo or video of the screen turned on so you can be sure everything is in working order, and if it's the Bike+, ask for a video of the screen being rotated. If it all seems too good to be true, it probably is.
Are you the original owner?
It’s a good idea to ask when the product was purchased, and for any proof of purchase, to help you get a better understanding of how old the product might be. Don’t be afraid to ask your seller for more information in regards to how much they’ve used the Bike or Tread in regards to the wear and tear of the product. Personally, I’d rather buy a bike that’s been used as a clothes horse than one that’s been pummeled every day in lockdown.
Does it come with any accessories?
Unsurprisingly, Peloton accessories are expensive. If your seller is chucking in some Peloton dumbbells, a workout mat, or even some bike shoes, it makes the deal much sweeter. If they’re not, however, don’t panic, we’ve found the best Peloton shoes and the best yoga mats for home workouts here.
Of course, if you decide it's not for you, there are still plenty of other alternatives on the market, that are often much more affordable. When it comes to bikes, we've found the best exercise bikes and the best Peloton alternatives on the market. If you're shopping for a treadmill, we've also found the best treadmills and the best under-desk treadmills for upping your steps indoors.
