Should You Buy a Peloton Refurbished Bike

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You may be wondering if it’s worth it to buy a Peloton refurbished bike. This is something that’s top of mind right now for Peloton digital app users. Why?

Because recently Peloton sent an offer to all digital subscribers about this deal. That is, for a limited time, they could buy a refurbished bike at a significantly discounted price.

How much a Peloton refurbished bike costs

That price is $1,195. That’s significantly less than buying a used Peloton on the Facebook Marketplace or eBay–as I outlined in this blog post about the pros and cons of buying a used Peloton. 

Of course, Peloton recently lowered the price on the original Peloton bike, from $1,995 to $1,495. Still, to save $300 on a Peloton is something to seriously consider–if, as an app user, you’ve been considering buying a Peloton cycle.

Who received this refurbished bike offer

I’m in a ton of Peloton groups on Facebook. People started posting about this offer a few days ago and for a few days only. All of them are digital app users. 

On a fairly regular basis, these users post if it’s worth it to upgrade to a “real” Peloton bike. Many of these folks, if they’re riding (versus doing the other kinds of classes on the Peloton app), are using other kinds of Peloton alternatives. 

https://www.leahingram.com/the-latest-on-peloton-bike-alternatives/

Why app users might want a bike

Recently, Peloton announced that digital app users would no longer receive one of the benefits that hardware owners receive. And that would be a free Century Club shirt when they reached their first 100 classes in a single discipline.

Previously, anyone who hit that 100 class milestone got the free shirt. But in August 2021, Peloton announced that only bike owners and Tread owners would be eligible for Century Club shirts.

I’m not saying a free t-shirt is a reason to buy a bike, refurbished or not. But it seems that the company is setting things up to cut back on certain benefits over time for digital app users. I’m sure they’re thinking that this would be an incentive for users to invest in hardware and, therefore, the more expensive all-access membership. That’s $12.99 per month versus $39 per month.

By the way, you can find plenty of ways to celebrate your hitting 100 rides with products on Etsy. Check them out below.

What are Peloton Milestones: Shirts on Etsy

If you can't get a free Century Club shirt from Peloton, there are always these options on Etsy. Of course, not free, but super cute.

Where do refurbished Pelotons come from

I don’t have official word from Peloton about where these refurbished cycles are coming from. But I have a sense.

One, bikes from Peloton storefronts. Two, returned bikes, such as users who took advantage of the free, 30-day trial and decided they didn’t want to keep the bike.

(Here is a link to more information about the free trial.)

Three, the cycles that users traded in when they traded up to the Bike Plus.

What you need to know about a Peloton refurbished bike

OK, so let’s say that you’re on board for buying a refurbished cycle. The company says that every bike it sells like this has been recalibrated to run like a new bike. 

In addition, each refurbished bike comes with a one-year warranty. That’s the same as buying a new bike.

However, when you buy a new Peloton, you have the option of buying an extended warranty at some point. With the refurbished ones, though, that option is not available.

All hope is not lost, however. If you decide to buy using a credit card, many credit cards offer extended warranties or guarantees or purchase protection. So, think about that when thinking about how you’re going to pay for your bike–new or refurbished.

Looking for a new credit card that offers this kind of coverage? I would recommend checking out your options on Credit Karma.

When will Peloton offer refurbished or certified used bikes again

It seems that this latest offer was available in certain zip codes only. I’m guessing the zip codes were near Peloton’s warehouses or distribution centers. Even so, this offer was for a few days only and expires today. 

However, this wasn’t the only time that app users have gotten push notifications about buying a refurbished bike. Over past holiday weekends (Memorial Day and Labor Day), they would release this offer. I wouldn’t be surprised if they do it again for Black Friday 2021 or another holiday in the future.

Is it worth it to buy a refurbished bike

So, at $300 off the price of a “regular” Peloton: is it worth it to buy used? Based on an unscientific review of comments on this Reddit thread, I’d say users are split. 

Refurbished Peloton bike sale from pelotoncycle

A number of people reported that they “pulled the trigger” and finally bought a Peloton. That offer was enough to push them to act. Others, though, felt that saving $300 wasn’t enough money to save over buying a brand new bike that would have a longer warranty.

I get that. When I was considering buying new versus buying a used Peloton, I eventually came to that conclusion, too. That is, it seemed to be a better deal to spend a little bit more for a new bike and have peace of mind from the coverage.

It’s important to note that my example was for buying a second Peloton for a vacation home. Our first Peloton is an OG bike. We got it in 2016.

And, except for having a problem with a pedal breaking right after we received it back in 2016–and Peloton sending us new pedals under the warranty for free–we haven’t had a single problem with this bike. (I just knocked on my wooden desk so as not to jinx the bike by putting that in print.) So, a warranty is great for, as I said, peace of mind, but, if you’re lucky like we have been, you may not even end up needing it in the long run.

Final thoughts on if you should buy a Peloton refurbished bike

Clearly, you may be reaching this article after the most current refurbished bike offer has expired. However, that doesn’t mean that Peloton won’t send out another one in the near future. 

So, hopefully I’ve laid out the pros and cons of buying used versus buying new. That way, if you’re an app user and the offer comes around again, you’ll know right away if you should, as other users have said, pull the trigger and buy a refurbished Peloton. Or whether it makes sense to stay the course with what you already have been using.

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