Peloton exercise bikes are among the most expensive of bike options. Their costs ranges from $1,800 to as much as $3,000; however, they are quality made and will last a very long time when cared for. If you want to know how to save on a Peloton exercise bike, keep reading to learn more.
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Choose Your Features
Fully loaded Peloton bikes are going to carry the highest cost. You’ll want to ask yourself if you really need all of these features? The immersive cardio models are less than the cardio plus strength models. You can certainly save by sticking with an immersive cardio bike and then working on building up your strength using less expensive tools, such as a set of barbells.
If you are adamant about buying from Peloton themselves, I suggest going with the basic package. Other packages include shoes, weights, headphones and heart monitors, which you can easily purchase elsewhere at a much much cheaper price.
Check for Current Discounts and Sales
Pelton offers a special discount for:
- All members of the military (active and retired)
- Medical personnel (doctors/nurses/pharmacists/respiratory therapists)
- First Responders (firefighters, EMTs, police officers)
- Educators (K-12 or higher education)
If you don’t fit into any of the above categories, consider waiting for a holiday sale so you don’t have to pay full price for a brand new model. I also like to search Google for “Peloton Coupon Codes.” When the results pop up, make sure you’re looking at a coupon code that is still valid. Some of them will have already expired.
Opt for a Used Model
Check your local Facebook Swip Swap groups, hometown paper classified ads, Craigslist and even eBay for a used Peloton exercise bike. In just a few minutes I found a model for sale on eBay for $800 and it even came with weights, a bike mat and cycling shoes. That’s a savings of well over $1,000. Warning: Friends have told me that Peloton bikes offered for sale on Craigslist and in the Facebook Marketplace sell quickly, so if you see one, you’ll want to act fast or you may miss out on the deal.
In many cases, you can even make a social media post or place an ad in your local paper that are you looking for a used Peloton bike. Simply letting people know you’re looking is sometimes all it takes to come across a good deal to save on a Peloton exercise bike.
Turn Your Existing Exercise Bike Into a Peloton Bike
During my research, I actually came across a guy who turned his wife’s traditional exercise bicycle into a knock-off Peloton bike. Did you know that you can actually get a phone mount and attach it to your bike? Peloton allows anyone to download their app, so long as they pay $12.99 per month for the subscription, which is much less than the membership fee that comes with the bike.
You can run the app from your phone or connect the phone to your television, assuming you have one in front of your exercise bike. That way you can take part in the live classes. The only downside is that you won’t be on the company’s leaderboard, but do you really need to know if you’re beating out other riders? No, the important thing is that you’re getting in your weekly exercise and improving your overall health!
Peloton bike accessories are readily available online, including over at Amazon, which offers free shipping if you are a Prime member.
If you don’t already have an exercise bike to work with, consider going with Sunny bike, as it has a similar look and feel, but costs just $330!
Exercising is an important part of staying healthy, but the purchase of a Peloton bike shouldn’t affect your financial health. If it does, it isn’t worth buying. Take the time to save up the money you need to pay for the bike in full. If you follow the tips above and avoid paying full price, it won’t take you as long to gather up the money you need. I also recommend trying out a friend of family member’s Peloton bike before you decide whether you really want one. There’s nothing worse than making a big purchase and then having buyer’s remorse later on!