Buy A Used Peloton Bike Versus Buying New

Last year, I considered whether I should buy a used Peloton bike versus buying one new. You see, we’d recently bought a vacation home where I had hoped to be spending more time and eventually retire to.

As a devoted Peloton user, I wanted that vacation home to have a Peloton bike in it. In addition, it was our plan to rent out the home when I’m not staying there. You know, make some extra money by listing it on VRBO.In fact, it’s one of the reasons I wrote my article on private home vacation rentals with a Peloton in it. One day I wanted my Peloton house to be included.

Can you buy a used Peloton bike

Yes, you can absolutely buy a used Peloton bike. In fact, buying a used Peloton bike is not something new. Peloton even offers tips on buying a used bike. That advice is primarily about where you can go–online and in person–to buy a used Peloton bike.

Now, of course, Peloton wants to direct you to its refurbished bike program. And in 2024, they gave you a financial incentive to buy a used bike this way: if you decide to buy a used Peloton from a non-Peloton seller, you’ll have to pay a $95 activation fee. Plus, once you activate the bike, you’ll have to pay the monthly all-access membership price. At this time, that is $44 per month for Americans.

Currently, here are the prices for refurbished hardware from Peloton:

• OG Peloton Bike Refurbished: $1,145
• Refurbished Peloton Bike Plus: $1,995

And that’s it. You don’t have the option of buying refurbished Peloton Treads (either model) from the company. So if you want to buy used to save some money, you won’t be able to avoid that activation fee.

Where to buy a used Peloton bike

Let’s say you’ve decided to go it on your own and purchased a used bike from a regular person. Here are the places you’re likely to find them for sale. For starters there are what I call “local” marketplaces. I’m talking about online sites. That would be some of the following:

• Craigslist
• Facebook Marketplace
• Facebook local groups
• Peloton Buy Sell Trade Group on Facebook 
• Nextdoor

There are plenty of other apps where people buy and sell items. If you are looking for “used Peloton bikes near me,” these sites are where you should look.

As I was deciding whether to buy a used Peloton or a new one, I spent most of my time looking on Facebook. Primarily, I found lots of bikes in the Facebook Marketplace as well as the Peloton Buy Sell Trade Group.

FYI, there are more than 243,000 people in the BST group! So, there are many people selling used spin bikes and other Peloton goodies like shoes. Mostly people are selling bikes but from time to time, you’ll see a Tread up for sale.

Buy a used Peloton bike on eBay

The most popular online marketplace where you can buy a used Peloton bike is eBay. I know people who’ve bought and sold cars on eBay.

So, buying a used Peloton bike on eBay isn’t that far out there. If you want to check out the offerings, here’s a link to the used Peloton bike search page. 

Purchase from family or friends

Most of the people I talked to who found a used Peloton bike for sale did so through someone they knew. They felt secure in buying it this way because they trusted the person who was selling it to them.

What questions to ask if you’re thinking of buying a used Peloton bike

Here is a suggested list of questions to ask when considering buying a used Peloton.

What generation is this used Peloton bike?

For example, one of the suggested questions is this: what generation the bike is. How do you identify the Peloton generation? By the model number on the back of the monitor.

When I was speaking with a Peloton user about buying his used bike, it was the first thing I asked. He sent me a picture of the model number on the monitor. Because it started with the “RB1V1” code, I knew it was a Generation 2 bike. That’s good.

Why? Because Gen 1 used Peloton bikes are some of the oldest ones out there. Many have needed their monitors or tablets or touchscreens to be replaced because the software wasn’t updating. And in 2024, those old screens became obsolete. If owners didn’t pay to buy a new monitor, then the bike simply does not work. That’s an expensive paperweight.

I suppose there are dishonest people who might try to sell you a non-working Peloton with an out-of-date screen. Which is why it is so important to know how to identify the generation of that Peloton monitor or screen.

Here is a quick way to identify the Peloton generation:

• Gen 1 has QUARTZ on the monitor. These are obsolete and no longer work.
• Generation 2 Peloton bike has RB1V1 on the monitor.
• Generation 3 Peloton bike has RB1VQ on the monitor.

Can you show me proof that the bike turns on and works?

Now that the Gen1 Peloton monitors are no longer supported, seeing video proof ahead of time that the bike actually works is more important than ever. If you find someone selling a bike, ask for this video proof. But don’t ask them to send you a video. They could fake it. Do a video call with them–Zoom, FaceTime, Skype. I don’t care. You want to see, in real time, that the bike turns on and works.

Also, if you do decide to buy it, have them show you this proof again in person. You don’t want to meet someone in a parking lot to get the bike and have no way to plug it in and ensure that this is the same bike you saw in the video. Sure, going to someone’s house is creepy so find a place you can meet in public where you can plug in an extension cord and be able to test the bike. If the person balks, leave.

How many people have used the bike and how many rides does it have on it?

Between my husband and me, our 2016 bike easily has 2,000+ rides on it. I mean, I’m closing in on 1,800 rides on my own. The guy selling the used Gen 2 bike I wanted to buy said he got the bike in 2016 (like I did), and it had just 400 rides on it. That made it a super-attractive deal.

Finally, you probably want to ask if the bike has had any repairs. If I were to sell my original bike, I would disclose that we replaced the pedals. Well, actually, Peloton replaced the pedals. Two weeks after we got the bike, they snapped off. Peloton replaced them, under warranty, for free.

Can you provide proof of purchase?

Recently, someone posted in a Peloton Facebook group that she’s gotten ripped off buying a used Bike Plus. The details of the transaction are a bit fuzzy but this was crystal clear: the seller sold her a bike they’d gotten through the Peloton rental program.

However, the seller had decided to stop paying for the Bike and sold it fraudulently. When the buyer went to activate it, she was told that Peloton couldn’t do it because she was not the legit renter and money was due on the bike. So, now she’s stuck with a bike and out a couple hundred dollars.

People are urging her to file a police report, assuming she went to the person’s house to get the bike. That way she’ll know where to send the police.

Regardless, this brings up a good point that I hadn’t considered until today: ask for proof of purchase. This might seem obnoxious, but if people are selling bikes fraudulently, then by all means ask for proof that they are the legit owner.

A used Peloton bike does not could have a warranty

I’ve just updated this section of the article. Previously, one of the issues that Peloton makes abundantly clear in its “buying a used bike” FAQ is about the warranty. That is, a warranty is not transferable. So, even if you buy a used bike that the seller bought just a few months ago, you will void the warranty when you buy it.

Just so you know, all new Peloton bikes come with a free, 12-month or one-year warranty. Before that one year is up, you have the option to buy an extended warranty for up to three more years. That extended warranty costs just a few hundred bucks. Think of it like Applecare for your iPhone or MacBook or iPad but for your Peloton.

New Peloton Protection Plan extended warranty

However, in April 2022 Peloton updated its policy about warranties. While the original 12-month warranty on a new bike does not transfer to a new owner, an extended warranty will. Renamed the Peloton Protection Plan, this extended warranty provides coverage for your Bike or Tread for 48 months. So, four years. It is available for U.S. owners only. The Peloton Protection Plan starts at $199.

Here’s what Peloton had to say about the transferability of this new warranty options:

“Protection plans sold after April 5, 2022 are transferable. If you are purchasing a previously-owned Peloton product, be sure to request and retain the protection plan order confirmation from the original owner in the event you require future service under this plan.”

This article explains this warranty in more detail.

How much does a used Peloton bike cost

While updating this article, I saw most used Peloton bikes going for under $1,000 dollars. One guy had a bike in Texas listed for $1,200. Shocker: no one was commenting on it. I saw a used Bike Plus for $750. That was the average price for used original Peloton bikes.

Now that the Peloton Row has been around, I’m seeing them for sale, too. One was listed for $2,000. Price for a new Row is $2,995.

You’ll find a few used Treads for sale, too. These are the newer iteration, not the behemoth that is the original Peloton Tread, now called the Tread Plus. New “regular” Treads cost about $2,700. The used ones were all under $2,000.

Cost of a brand new Peloton bike

What does a new bike cost? Well, when Peloton introduced the Bike+, they lowered the price of the original bike to $1,895. Then, they lowered it again to $1,495.

The OG Bike is now for sale on Amazon. It is $1,445.

Yes, Peloton keeps changing the price of its equipment.

The Bike Plus costs $2,495 on Amazon. This is what we paid in 2016 for our original bike.

How to pay when buying a used Peloton bike

There were two people I found selling used Peloton bikes. Both were in my area and selling for $1,500. Obviously, $1,500 is a much better price than a new bike. Again, this was when the new bike cost $1,895.

The sellers wanted a $100 deposit via Venmo or PayPal. Then, I would pay the remainder when I went to pick up the bike. One seller would take my check, even though it was out of state. The other seller agreed to take payment by Venmo. However, at the last minute he asked for it all in cash.

That seemed a little sketchy to me–showing up at a stranger’s house with $1,400 in cash–so I ended up backing out of that deal all together. By the time I got back to the other person, they’d sold the bike.

What do you get when you buy a used Peloton bike

Well, that depends on what the seller is including. Many of the listings I saw on the Facebook Peloton Buy Sell Trade group included the same items we got with our “The Works” package when we bought our bike. That would be the headphones, heart rate monitor, bike mat and shoes.

FYI, all of these Peloton accessories are available on Amazon now, too.

Does a used Peloton bike come with Peloton digital

I chatted with Peloton customer service about how I could log into the used Peloton bike I wanted to buy. I figured that since I already had an account and profile, I’d just log into the new bike this way. Wrong. Each bike comes with a unique key and therefore a unique subscription.

So, even though I already own a bike and pay $39.99 now $44 for my subscription–which gives me Peloton digital as a “free” add-on–I’d need to pay for a second subscription for a second bike. This would be true if I bought a used Peloton as my second bike or bought a second one new. Plus, now you have to pay $95 to activate a bike you bought used, if it didn’t come from Peloton.

Did I buy a used Peloton bike or new?

So, what do you think I ended up doing? Did I save a couple hundred dollars and buy the used bike I found on Facebook Marketplace? Did I think it was a good idea to buy a used Peloton bike? In the end, no. (I’m making this sound like House Hunters, aren’t I?)

I ended up buying a new Bike Plus. Why? A couple of reasons.

Pros of buying a new Peloton bike versus buying used

First, as someone who blogs a lot about Peloton, I thought it would be important to own the Bike+. I want to be able to write about it, review it, and share its pros and cons, and more, just as I have about my original bike.

Here is a link to all of my Peloton-related content on this blog.

Second, remember how I mentioned that when you buy a used Peloton bike, you don’t get a warranty? Well, in the end I decided that I did want a warranty. Again, this was before Peloton changed its policy about the warranty.

It’s one thing to buy something used on Facebook for a couple hundred dollars and risk not having a warranty. It’s an entirely different thing when you’re spending more than a thousand dollars.

Third, to buy a used bike meant that I had to go get it. In my own car. And lift and carry it to said car with my husband, ourselves. What if I broke it when taking it out of the seller’s home? I just didn’t want to deal with the hassle of that worry. By buying the bike from Peloton, they’ll deliver it to my home.

Fourth, my payment was secure. When you buy a new Peloton bike, you can pay with your credit card or finance the bike with Affirm. When you buy a used Peloton bike, you’re giving cash to a stranger. Unless you know that person, this just doesn’t feel very secure.

I ended up getting interviewed about buying a used Peloton.

Cons of buying a new Peloton bike versus buying used

Besides spending more money on the bike overall, one of the biggest cons of buying new was the wait for delivery. I purchased the Bike Plus in mid-February. The first available delivery date was April 2. Had I bought a used bike, I would have had it the next day.

Now there is a third option for getting a bike–renting a Peloton.