Should You Buy a Refurbished Peloton Bike
Peloton just announced that it is selling refurbished bikes again.
Previously, Peloton had sent an offer to all digital subscribers about a deal.
That is, for a limited time, they could buy a refurbished bike at a significantly discounted price.
Then, Peloton stopped offering this in the United States.
At the same time they launched refurbished bikes in Germany.
Where Refurbished Peloton bikes are sold
Thanks to PeloBuddy, I learned that Peloton has set up a shop on eBay for German sales of refurbished bikes. Through this eBay storefront they sell used and refurbished bikes.
Right now those bikes are priced at 990 Euros.
Here is a link to the German eBay storefront.
Then, during the Holiday 2022 season, Peloton announced again that they would sell refurbished bikes in other locations.
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Now that we’re into March 2023, there is a new deal on refurbished Peloton bikes.
According to Reuters and republished on Yahoo Finance, there are some new features to the refurbished Peloton bike program.
One, Peloton has renamed this offering. Now, it’s called Peloton Certified Refurbished.
Two, these refurbished bikes are available to users in the United States and Canada. Previously, they were for U.S. riders only.
Three, Canadians or Americans interested in buying a refurbished Peloton bike will save $500 off the price of a new Bike Plus and $300 off the price of an original Peloton bike.
Scroll to the bottom of this post for the link to the Peloton page where you can buy a refurbished bike.
Benefits of a refurbished Peloton bike
This newest refurbished Peloton bike comes with five things worth noting.
- Lower price.
- Bikes are repaired and inspected to Peloton standards.
- New pedals.
- 12-month limited warranty
- Free delivery and setup.
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 $44 per month.
Also, Peloton has announced that soon it will be offering tiered levels to the app membership. From my understanding, the more you pay, the more you get. However, I haven’t heard anything similar or these kinds of changes for the all-access membership.
Where do refurbished Peloton bikes 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.
Three, the original Peloton bikes 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.
Now you can get that extended warranty, as this article explains.
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.
Is it worth it to buy a refurbished bike
So, at $300 off the price of a “regular” Peloton or $500 off a Bike+: is it worth it to buy used? Based on an unscientific review of comments on this Reddit thread, I’d say users are split.
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. Except now it does.
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. We bought the Bike Plus. 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.
Looking to sell your used Peloton bike? These tips will help.
Prices match new on Amazon
As you likely know, Peloton started selling on Amazon in 2022. This includes the original Peloton bike.
I’m writing this update during Holiday 2022. At this point the price for a brand-new original bike on Amazon is $1,195. The price for a refurbished original Peloton bike through the certified refurbished program? $1,145.
Sure, one is $50 cheaper than the other. However, one is brand new and the other is refurbished. Only you can decide which is the better deal.
Final thoughts on if you should buy a Peloton refurbished bike
Hopefully I’ve laid out the pros and cons of buying used versus buying new. Still interested? Here is the link to the Peloton page where you can learn about the refurbished bike offer.
Don’t buy a refurbished Bike+. My certified refurbished bike+ did not work within the first 24 hours of delivery. It was delivered and set up. I personalized my settings and connections after delivery. The next morning when I went to start my first program, the screen was black and would not turn on. The bike+ was not functional within the first 24 hours after delivery. A refurbished bike+ is sold as a final sale. Peloton cannot sell a product that doesn’t work and then not allow for returns. This is completely unacceptable and terribly disappointing. I spent several hours on the phone and chat trying to resolve the issue. Additionally, Peloton asked for a review, but is not publishing it. They are hiding negative reviews.
This is terrible and I’m so sorry to hear that. You might want to contact the consumer reporter at your local TV station to see about getting a better resolution or dispute the charge with your credit card. Keep me posted.
How do you know what generation refurbished bike you are receiving.
I would be fine with getting a certified refurbished bike directly from Peloton if I knew I was getting a the latest screen with processor but nowhere on the Peloton website does it talk about what you get. its like trying to buy a used car and not knowing what year it was produced.
That’s a fair question. I just read the FAQ on the Peloton site about refurbished bikes and it doesn’t say anything about the screens but it now adds in that it has the updated seat post (as per for the Peloton bike recall). Why not chat with Peloton about this question? If you do, come back and let me know what they say.
Leah,
This article looks to be updated but missed that they are offering an extended warranty now.
Thank you. I will edit to include that info.