Peloton Bike Trade In: What You Need to Know

The Peloton bike trade in program is back on but it’s for a specific kind of bike — bikes with Generation 1 monitors are the only ones that qualify. These are some of the oldest bikes out there. People I’ve met when taking classes at Peloton Studios New York have been riding since 2014 or 2015. We got our bike in 2016.

Criteria for the Peloton bike trade in

So, the criteria now for trading in a Peloton bike isn’t so much the age of the frame but the age of the monitor. If you have a first generation Peloton bike monitor, it’s important that you understand that by June 2024, that original monitor aka the touchscreen will no longer work. That is, Peloton will not support any updates or upgrades to it and it will work in Just Ride mode only.

FYI, previously you could identify bikes with Gen 1 screens, because they have the word “QUARTZ” on the back of the monitor. However, Peloton added this info to help you know:

“To confirm, on the back of the console there is a label that shows the device serial number (SN). SNs for First Generation v1 Bike tablets start with 7201, 015, 014, or 0B0. If the sticker is missing, you can find the Serial Number by Navigate to Device Settings, Click About Tablet, Select Status and find the Serial Number near the bottom of the page.”

If taking live classes and using your original bike how you’re used to is important to you, then you have two choices.

One, Peloton will give you a discount towards a new monitor. This allows you to keep your original bike. They’re offering $50 off a new monitor. Replacement monitors cost $375.

Or, two, you can trade in your Peloton bike and Peloton will apply a discount towards the purchase of a Bike Plus. Peloton is offering $500 off a Bike Plus. Right now, the Bike Plus costs $2,095 on the Peloton website. Normally, it is $2,495.

Here are parts of my original article from 2020, when Peloton first introduced the bike trade-in program. Many of the parts still apply, specifically if you’re thinking about upgrading your original bike for a Bike Plus.

Who can trade-in their Peloton bike?

For starters the Peloton bike trade-in program is for original bikes only. Primarily, it is for the original bike owners. However, since Peloton started selling used bikes, this trade-in program now applies to Peloton bikes bought used through Peloton only.

In other words if you bought a Peloton original bike used from someone else, you likely did not receive a unique code to activate your bike. Without that code, you can qualify. Or at least that’s my reading of the rules. If you have any questions, reach out to Peloton support.

Second, the Peloton bike trade-in is for Bike owners with a first generation tablet looking to buy a Bike Plus also known as the Bike+. You cannot trade in an original bike for a new original bike. Similarly, you cannot trade in a Bike Plus for a new Bike Plus.

Eligibility for trading in a Peloton bike

In previous trade-in programs, Peloton had all kinds of requirements. They haven’t spelled them out for this monitor-related trade in. However, my guess is that many still apply. Here they are.

One, your original model Peloton bike must have all of its original parts. This includes the seat, pedals, power cord and screen.

Two, your Bike’s frame and screen must be free of adhesives, paint or cosmetic markings, cracks, dents, rust or other major damage. So, if you bought a leaderboard name sticker off Etsy and had it on your bike, it could be considered a damaged frame. Therefore, you could not trade in your cycle.

Three, this is for U.S. residents only.

Finally, you’ve never purchased a Bike Plus before. This one concerns me for the future. Why? Because we own a Bike Plus as well as an original bike.

Peloton is sunsetting support for the Generation One computers because they say the technology is 10 years old and too old to support. We bought our original bike towards the end of 2016. I think that, come 2025, Peloton may sunset support for our Generation 2 monitor. So, where might that leave us?

How to trade in a Peloton bike or get a new monitor

In the past, when trading in an original Peloton bike for the Bike Plus, you would have to go through the motions of purchasing the new Bike Plus simultaneously with the trade in. It was like you’re upgrading the original Peloton bike for the Peloton Bike Plus, all in one step.

However, I’m not 100% clear if that’s how it’s working in the 2023, 2024 version of the Peloton trade-in program. This Peloton support page provides additional info.

Looking to buy a used Peloton bike? Here’s what you need to know

Common questions about the Peloton bike trade in program

Below, I’ve answered some of the most common questions people ask about the Peloton trade in program. Of course, if I’ve missed a question you’d like the answer to, please post a comment and let me know. I’ll research the answer and update this post accordingly.

How do I get my original Bike ready for pickup for the trade in?

As mentioned above, Peloton expects all of the original Peloton parts to be on your bike. That is, the screen, seat and pedals.

In addition, your frame should be free of defects, rust, dents and any stickers or adhesives. If it were me, I’d also take some Wipex Wipes and clean it up before the trade in crew got there.

However, if you bought shoes and other accessories with your original bike, you do not need to send them back. They are yours to keep.

Finally, the pedals on the Bike Plus are the same as the original Peloton bike. So the Delta Look cleats on your shoes will work on the new bike, too.

ntil everything is paid off.

Can I trade in a Peloton bike for the Peloton treadmill?

At this time the Peloton bike trade in program is just for the original bike to the Bike Plus. So it does not apply to the Tread. But it would have been cool if it did.

Is there a Peloton bike plus trade in?

The only Peloton bike plus trade in is the one where you trade in an original bike for the Bike Plus. You cannot trade in a Bike Plus for a new one.

Here is my article about refurbished Peloton bikes

What is Peloton Buy Sell Trade?

Peloton Buy Sell Trade is a Facebook group where people buy and sell anything and everything Peloton. This includes Peloton apparel, Peloton accessories and Peloton bikes. 

In fact, before we bought our Bike Plus, we considered buying a used Peloton bike off Peloton Buy Sell Trade. Here is the article I wrote about my experience.

Is the Peloton Bike plus worth the extra money?

Now that I have experience with both a Peloton Bike Plus and the original Peloton bike, here’s my take. The Bike Plus is really nice. The swivel screen is super convenient, and the handlebars are ever so slightly closer to the seat (good if you’re a member of the Shortie Tribe like I am).

However, there are Peloton add ons and aftermarket accessories that you can buy to make your original Bike screen more like the Bike Plus. And they’re super affordable. The company that makes the best screen pivot is Top Form Design.

Below, I’ve highlighted their product called The Pivot along with other products they make that move the handlebars closer. These latter products for the handlebars are designed for the original bike as well as the Bike Plus.

Final thoughts on Peloton bike trade in

Should anything change in how Peloton is running its trade-in program, I’ll be sure to update this post. But for the time being, this should give you a good sense of what to expect if you decide to trade in your original Peloton for a new Bike Plus.

Like I said, I’m worried that, eventually, this will be the case with bikes that have Generation Two monitors. But I guess I’ll just have to wait and see about that.