Peloton bikes are the most revolutionary piece of fitness equipment that have individuals scrambling to get their hands on, but they do come with a hefty price tag. So how about purchasing one used. Is that a viable option? Let’s find out.
To purchase a used Peloton Bike first decide if you want to purchase locally, from someone you know, or online. Next, either physically examine the bike or have a video sent of the condition of the bike. Lastly, transfer the Peloton membership if possible, and figure out the shipping process.
What does a used Peloton bike cost? Where can you purchase one? What you should look out for, does Peloton sell used bikes and more? These are all questions you’ll get the answers to in this article.
How To Buy A Used Peloton
It would help if you considered that there are many factors when purchasing a used Peloton bike, which means looking out for the cheapest deal is not the only thing that should be on your mind.
You will need to factor in transportation, where to purchase it, the bike’s location and yours, the return policy (if any), and its condition. Not to mention that the bikes come with a warranty, right? Then how about the membership that’s also included if you purchase a secondhand Peloton bike?
What Peloton Bikes Can I Purchase Used?
There are two versions of Peloton bikes that you can source on the secondary market: the standard Peloton Bike and Bike+ models.
A new Peloton bike that includes delivery, assembly, and a limited 12-month warranty will set you back $1,495 from the Peloton website. The Bike+ costs an extra $1000 sitting at $2,495.
Take note that there are more options available that include extra accessories such as shoes, weights, reversible workout mats, bike mats, and resistance bands, but these accessories will cost you extra depending on what you opt for.
How Much Is A Used Peloton Bike Or Bike+?
Used Peloton bikes will vary in price depending on their model, how old they are, and their condition. Typically, you should not be paying the retail price for a used bike unless it is almost brand new or unused.
One should expect to pay around 70 to 80 percent of the retail price for the bike if it is used but has been kept in good condition.
You don’t want to pay the retail price or close to that because gym equipment tends to get used unlike anything else. It is typically put through the paces and succumbs to eventual wear and tear over a period of time.
A piece of gym equipment (in this case, a Peloton bike), if used considerably, will need to be serviced and have some parts replaced, and a Peloton bike, even though it is a state of the art spinning bike, will suffer the same drawbacks as a typical spinning bike.
Does Peloton Sell Used Bikes?
Peloton does not sell used bikes and is not affiliated with or responsible for the sale of their equipment on the secondary market, as is stated on their support page.
What To Look Out For And Do When Purchasing A Used Peloton?
Buying a used Peloton bike can be a bit tricky. Remember that even though it is a technologically advanced piece of gym equipment, there are many constituents that are in play, get vigorously tested, and are worn out over time.
Thus not only do you have to make sure that the screen is working correctly, but you also have to make sure (if you can) that the flywheel, bearing, pedals, belt, and belt guard are in good working condition.
If you are purchasing this online, you will have to consider that because of what a Peloton bike is, and how much it costs, you should ask that the seller send you a video of the bike in proper working condition.
This means that the video should include a comprehensive overview of the bike and its most crucial working parts. Due to the Peloton bike being what it is, photos should not be considered, and if a seller does not want to take a video, you should be a bit wary.
What About The Peloton Bike Warranty? Is It Transferable?
The Peloton support page states that the warranty they issue with bikes that they sell directly from them is not transferable on the secondary market.
In simpler terms, no matter if you purchase a Peloton that is one day old and has not been touched, that bike will not be under warranty from Peloton.
What About The Peloton Membership? Is It Transferable?
Even though the warranty is not transferable, the membership is. However, this is at the seller’s discretion, which means they are allowed to sell you and transfer the rest of their membership over to you only if they want to.
To do this, they will need to email Peloton support with both interested parties’ names or email addresses.
Where Can I Buy A Used Peleton?
There are a number of places where you can purchase peloton bikes on the secondary market, and we have listed them below for you.
Local Online Secondary Market
If you are searching online, you would be better off searching marketplaces that group buyers and sellers by their location, such as Craigslist, Letgo, and FaceBook. Facebook actually has a “Peloton Buy Sell Trade” Group that you can join.
The great thing about finding a seller close to you is that if possible, you are able to go view the bike and perhaps arrange transportation yourself to deliver it back to you.
National Online Secondary Market
If you do not manage to find a used peloton bike on the local online secondary market, the next step is to search nationally. This means you could search eBay and other similar sites. Take note that you will have to be sure about the condition of the bike before you purchase it if you are not able to view it in person.
Face To Face (In-Person)
The most preferred way to purchase a Peloton bike would be to buy it from someone you know, like one of your friends or family members. Purchasing it this way, you can at least trust that the bike’s condition is what the person says it to be.
What Do I Do About Shipping My Used Peloton Bike?
There are two things you can do regarding this milestone. If you are lucky enough that the used bike is in the vicinity of your location and you are able to loan or rent a pickup truck, you will be able to deliver it with not too much hassle. The bike is sturdy enough that it won’t get damaged if you decide to transport it yourself but not that heavy that you will struggle to move and lift it.
If the bike is far from your location, the only option you have is to have it shipped via courier. Depending on the courier, weight, and size of the bike and how far the destination is, you will be charged a substantial fee.
Thus, before purchasing the bike, make sure to call up a courier service and find out how much it would be to get it shipped to you.
Conclusion
We discovered there are many factors to consider if you plan on purchasing a used Peloton bike from a secondary source. You will need to consider price, condition, location (because of shipping), and more.
We also found out that if they have been used consistently, the parts on the bike that can suffer from wear and tear must still be in good condition because there is no point in purchasing a secondhand bike and having to buy new parts for it.
Lastly, we learned what to look out for when purchasing the bike, where we could buy it, and what it entailed.
