How to Rent a Peloton Bike

So many people end up on my blog because they want information on how to rent a Peloton. They’re usually looking to rent a Peloton on vacation. Therefore, I point them to my article on vacation rentals with Pelotons in them. Perhaps you landed here because you Googled Peloton Airbnb.

But since writing that article about Peloton vacation rentals, I’ve learned that Peloton has a legit rental program now. In fact, if you’re on the fence about getting a Peloton, I wanted to spell out how the Peloton rental program works vs buying.

Also, Peloton recently expanded the Peloton rental program to include the Bike Plus. Here is what the Peloton press release said:

“Peloton recently announced the expansion of its national rental program, allowing people to rent from just $89/month a Peloton Bike/Bike+, which includes the cost of an All-Access Membership and access to Peloton’s entire library of live and on-demand classes.”

And then Peloton expanded the rental program to Canada. More about that a little farther down in this article.

How to rent a Peloton in the United States

In 2022 the company introduced the One Peloton Club. Sounds like a rewards program; it’s not. 

In fact, this “club” is the first time that Peloton lets you rent a Peloton. 

When it first debuted, you could sign up to rent the original bike as well as the Bike Plus. However, now it’s just for the original bike.

Cost of a Peloton rental vs buying a Peloton

It seems the Peloton rental program is designed to make the cost of entry of having a bike lower. That is, you’ll pay $89 a month plus a $150 delivery fee. You can rent the bike for up to two years and it includes your all-access membership ($44 per month but that’s included in the $89). 

There is the option to buy your bike, too, after you’re done renting it or even before. So, this is really like a Peloton rent-to-own option. Think of it like leasing your Peloton like you might a car. However, at least with the Peloton, you don’t have to worry about mileage.

Financing a Peloton bike

On the other hand, you can finance the original Bike for as low as $38 per month. Plus, you’ll need to pay for the all-access membership, which is $44 a month.

So the total cost on the payment plan to finance is $85 per month. You’ll need to crunch the numbers and see if this Peloton rental program makes the most sense for you. Or, if setting up a payment plan to own the Peloton bike is the right route to take.

What’s included when you rent a Peloton bike

Here are some of the terms and conditions of what’s included when you rent a Peloton bike through the One Peloton Club.

Limited warranty on the rented Peloton bike

Each rented Peloton comes with a Limited Warranty for the duration of the rental agreement. As I mentioned you can rent a bike for up to two years. Then, you have the option to buy it at a discounted price.

However, if you rent the bike for longer than 12 months and decide to buy, you must opt into the Peloton extended warranty immediately if you want to keep the warranty. Otherwise, you won’t be eligible to extend the warranty after the one year period.

Free return of rented Peloton

If you decide you’re no longer interested in renting the Peloton, the company will pick it up for free. However, under the terms and conditions, it mentions this interesting tidbit, which I think is a huge red flag: 

“Should you cancel, you will lose access to all Peloton content at the end of the monthly period in which you canceled and will need to schedule a time within (30) days for Peloton to pick up the Bike. You will continue to be charged the monthly Program fee if Peloton is unable to collect your Bike within 30 days of cancellation through no fault of Peloton.”

This seems patently unfair that you’ll still be charged, if Peloton can’t get its act together to get your bike on time. This might be the biggest reason not to rent a Peloton bike but, instead, to buy one or finance one if you’re looking for a lower monthly cost.

Who is eligible to rent a Peloton

When I wrote my article on how I‘d used the Peloton return policy to send back The Guide, I learned that only some Peloton users can take advantage of a home trial of Peloton hardware. For example, if you’ve never owned certain Peloton hardware, then you qualify for a home trial of that equipment.

We own an original bike and the Bike Plus. Therefore, if we wanted to buy another bike or Bike Plus, we wouldn’t be allowed to do a home trial like we could with The Guide, which we’d never owned.

Turns out it’s the same with renting a Peloton. Say we bought another home or wanted to give a Peloton to someone as a gift via this rental program. Because we already own a Peloton, the company does not allow owners like us to tap into the rental program.

Also, it appears the One Peloton Club aka the Peloton rental program, is available in the United States only. I did not see options for users who live in Canada, the UK, Germany or Australia. Perhaps that will change in the future.

What you cannot rent from Peloton

As I mentioned, when Peloton introduced this bicycle leasing program, you could choose between the original bike and the Bike Plus. Now it’s just for the original bike.

On the other hand, this rental program never included the Peloton treadmill, called the Tread, and it does not include the strength-training tracker called the Guide.

Also, if you choose to rent a Peloton, you have to buy the accessories. In other words the rented bike does not come with shoes, weights or anything else.

Here is a link to the Peloton website and more about how this rental system works.

How to rent a Peloton bike in Canada

In April 2023, Peloton expanded its wildly popular bike rental program to include Canada. This rental program is for the original Peloton bike as well as the Bike Plus (or Bike+).

Like with Peloton purchases for its equipment, this program is available in certain Canadian provinces only. However, instead of listing where they do deliver, the Peloton website only lists where they cannot deliver Peloton equipment.

So, it’s a no go if you live in any of the following places:

• Quebec
• Newfoundland & Labrador
• Nova Scotia
• Prince Edward Island
• New Brunswick
• Northwest Territories
• Nunavut
• Yukon
• Select areas in the Provinces of Ontario, Saskatchewan, Manitoba, Alberta, and British Columbia

My guess is this applies to the rental program. So, I would visit the Peloton website and start a chat to see if you live somewhere that can get the bike as part of the rental program.

Cost to rent a bike in Canada

The cost to rent a Peloton bike, on a month-to-month basis, starts at $129 CAD/month for the original Peloton Bike and $169 CAD/month for the Peloton Bike+. Also, there is a $250 set up fee.

These monthly fees include the cost of an all-access Peloton Membership, which everyone needs in order to use Peloton hardware. It also offers access to Peloton’s entire library of live and on-demand classes across 14 fitness modalities including strength, yoga, meditation, cycling, running and outdoor content.

Peloton Bike buyout pricing by date of buyout

• $1,595 at day 0 to 3 months
• $1,495 at 3 months, 1 day to 6 months
• $1,345 at 6 months, 1 day to 12 months
• $1,045 at 12 months, 1 day to 24 months
• $745 on or after 24 months, 1 day’

Peloton Bike+ buyout pricing by date of buyout

• $3,045 at day 0 to 3 months
• $2,895 at 3 months, 1 day to 6 months
• $2,645 at 6 months, 1 day to 12 months
• $2,145 at 12 months, 1 day to 24 months
• $1,295 at 24 months, 1 day to 36 months
• $995 on or after 36 months, 1 day

Finally, after buying out your Bike or Bike+, you’ll roll into the $55/mo All-Access-Membership monthly fee. Previously, your membership fee was included in the monthly rental price.

Rent to buy a Peloton bike in Canada

If you love your Peloton so much that you want to own it permanently, there is an option to turn your rental into a purchase. Here is how the cost for that works.

Peloton Rent series

So this last section of this article has nothing to do with renting a Peloton but instead focuses on Rent rides on Peloton. That is, classes that feature the soundtrack from the Jonathan Larson Broadway musical “Rent.”

Why am I writing about “Rent” rides? Because when I was researching this topic to write this article, information about “Rent” rides kept coming up. So I figured I would include a short section on them.

Anyway, there are a couple of ways you can find “Rent” rides.

Search on Peloton

One, you can use the search feature on Peloton to find Rent rides. For example, you can get the search spyglass on the Peloton tablet on the hardware as well as on the website.

So, when I typed in Rent on the website, I got a handful of results that matched my search intent. They were:

• Rent Soundtrack
• Cast of Rent
• Original Broadway Cast “Rent”

If I clicked in any of those results, I would see which classes featured the music from Rent. As an FYI, it isn’t limited to Rent rides. There are also Rent runs, Rent strength classes and Rent yoga. 

Unfortunately, you cannot use the search feature on the Peloton app on your phone, tablet or Roku TV. This article explains more about using the Peloton search feature.

Find the Peloton Broadway Collection

Two, you can click on Collections on the Peloton hardware, website or app, and then scroll down to find the Broadway series. Yes, you have to scroll the whole Collections to get to it–super annoying, I know. There is no way to search and the Collections aren’t even in alphabetical order.

However, once you get into the Collection, you’ll see all of the classes that feature Broadway music. In addition to “Rent,” there are classes with these Broadway themes, too:

• Dear Evan Hansen
• Hamilton
• In the Heights
• Mamma Mia
• Wicked

Keep in mind that you cannot access Collections (or Programs) via the Peloton channel on a Roku or Smart TV. I hope Peloton fixes this omission in the future.

Final thoughts on how to rent a Peloton bike

I’m hoping that you’ve found the answers to your questions about renting a Peloton or Peloton “Rent” rides. However, if I’ve missed answering anything, I’d love to hear from you.

Finally, if there is more you want to know about how to rent a Peloton bike, renting a Peloton on vacation or even the “Rent” rides on Peloton–or if you want to share your experience with the Peloton rental program–please post a comment.