After purchasing multiple used Peloton bikes, I've decided that it's time to share my experience. In this article, I'll tell you everything you need to know to buy a used Peloton cycle. And exactly when, why, and what is the best way to go about buying a used Peloton cycle.
For the average person purchasing a Peloton isn't the best way to get the Peloton live class experience indoors, especially if you don't know much about Peloton or want to do spin classes at home.
The truth is that the Peloton bike is similar to most other spin bikes. The only actual difference is the insane price and the live classes. So finding a bike that is similar in build quality, functionality, and cheaper isn't hard. Plus the Peloton digital App isn't tied to the bike, and you can use it with any other more affordable spin bike with a similar setup.
In most cases, a used Peloton bike will still run you above $1600. And that would be the cost for one in almost pristine condition. So I would only recommend buying one if you have at least that much to spend on the bike. If you have ever considered a cheaper substitute or feel reluctant to spend so much on the bike, then don't get it.
Instead, I strongly recommend buying one of these top alternatives to the Peloton cycle. From my personal experience, the most similar bikes are the Echelon bike, Nordictrack S22i, and the Sunny Health and Fitness Pro indoor bike.
With any of the bikes above, you can quickly get the same riding experience, live classes, and workout experience as you would on the Peloton. Plus you'll be saving at least $900, which will go a long way to pay for many months of Peloton's app that costs $39 per month.
Why should you consider buying a second-hand peloton bike?
The top reason most people will opt to buy a second-hand Peloton is for their Live Class experience. While the classes are unique and offer the best indoor spin experience possible, I wouldn't recommend the bike just for that reason.
Instead, I recommend buying the bike if you are a fan and for its incredibly premium build and amazing aesthetics. I also mostly recommend buying a Peloton used as you will in most cases, be getting a relatively new bike. So only buy a second-hand Peloton cycle if you love the bike and want to save a few hundred bucks.
Buy a Used Peloton Bike or New Peloton Bike?
I always get asked what the differences between a new Peloton and a used one are. And whether or not it would be better to buy it new. The short answer is, "Never buy it new!"
However, while I don't recommend it, there are some benefits to buying the bike new, but they don't always outweigh the benefits of buying it used. The first benefit is that you get a warranty on the bike that covers the frame for five years, plus 12-months for parts and labor. Next is that you are theoretically the first person to ride the bike. And lastly, it's the peace of mind knowing that there have never been any issues with the bike.
Purchasing a used Peloton bike, on the other hand, comes with far more benefits. The first is that as with any consumer product or equipment, the minute you get them, they lose value. So if someone buys a new Peloton cycle, it immediately starts losing a few hundred dollars in value, which means significant savings for you if you found such a Peloton bike for sale.
Another perk is that you get to use the money you save to pay for the live class subscriptions. The app costs $40 a month and is essential to the bike. So if you bought the bike new, you'd be paying more than if you bought it used.
Where to buy used Peloton bikes?
Many people are selling their Peloton bikes at any given time. Which makes finding one pretty easy to do plus there are a lot of places that will always have used ones available. Here are the best places to check first if you are looking one at a low price.
- Facebook BST Groups - There are occasional offers to be found in groups, so I recommend joining a few.
- eBay - This site offers a secure way to purchase a used Peloton bike. You'll e able to find out most things about the bike and the seller even before purchasing. Plus you might be able to get shipping included in your purchase.
- Craigslist - If you are interested in finding the bike closes to you, then craigslist is the place to look. They will almost always have sellers and good deals on bikes. However, if you find a sale, you have to act fast as the bikes on Craigslist gets sold quickly. You also need to watch out for scam sellers, but we discuss how to protect yourself later on.
- Facebook Marketplace - Sometimes you will see offers here on cheap Peloton bikes.
Of those four the best places to look that will always have a bike near you is Craigslist and eBay. I've had a lot of incredible success with finding great quality ones through facebook groups as well but buying through facebook comes with a few cons.
How to Buy a Used Peloton Bike
Now that we've covered the when and why you should buy a second-hand Peloton indoor bike we'll move into how to purchase one. If you've read up to here, that means you want to buy a Peloton and not a cheaper option like the Sunny Health and Fitness Pro bike below.
1. Finding the bike closest to your location.
Finding a Peloton bike for sale is the most challenging part of the entire process. As most times the bikes won't be in any cities close to you. Or the ones in your area might not be up to par. In these cases, you can do a simple search on google or facebook search with this phrase " used Peloton bike near me."
Once you've located a bike near you, the next step is to reach out to the seller quickly.
2. Start Considering taking delivery of the bike.
However, before making contact, you'll want to start figuring out shipping the bike back to your home. In most scenarios, it will be easier to go with a pickup to get the bike from the seller. Otherwise, you'll need a U-Haul or some moving service to get it to you. Another option is to see if the seller is willing to ship it to you. Do note that shipping comes with a cost of around $300 - $450 depending on the distance.
After you've figured out the delivery, you can go ahead and reach out to the seller however while making contact with a seller you need to keep your eyes on the market still and see if any other options come up while you wait for a response. The easiest way is to set alerts and notifications for groups and eBay, so you get notified of any new options. You also need to act quickly if you see a bike you like as they sell very fast!
3. Stay safe and avoid Scams!
If you get a positive response from the seller, then you need to set up a viewing of the bike before making the purchase. NEVER send payments through wire transfer until you have access to the bike if you aren't buying on eBay. You'll also need to consider your safety, so bring along someone with you and make sure that you go during the day.
Now it's time to start planning the questions to ask the seller when you meet up. I've compiled a list of the most crucial things to know or ask the seller below:
A word of Caution
Make sure you get satisfactory answers on each question, and not just a vague response. Their answers will determine whether the bike is overpriced or if you are getting a great deal. You could also ask some of these questions before meeting the seller so you know if you should proceed with this purchase even before doing a meetup.
4. Find out if they are the first owner of the bike.
You also need to figure out is how many rides the seller has on the bike. The number of rides will give you a general idea of the wear and tear of the bike. Make sure to ask the seller to show you their user profile and those of anyone else that has ridden the bike as it will help you get an accurate number of rides they have done.
Most times you'll see the bikes with little to no external damage since Peloton bikes are very durable. However, there might still be problems with the bike.
5. Find out if there are any weird issues with the bike.
For this question, you'll want to ask the seller subtle questions about their overall riding experience. Asking simple questions will let them talk about things they liked and disliked with their bike. You must find out all the problems you'll have to fix beforehand so you'll have a better idea of what you will have to repair. So ask questions about pedaling, resistance, squeaking seats or handles, etc.
This way, you would be able to find solutions to your issues before even closing a deal.
6. Find out the current status of their Peloton Digital Subscription.
Sometimes I'll be a little hesitant to ask this question as I've seen sellers with six months worth of subscription remaining that haven't included that in their selling price.
7. Find out if they are selling the bike with any accessories.
Things like the Peloton Heart Rate Monitor, bike mat, dumbbells, or Peloton shoes are essential to enhancing your riding experience. So if the seller is offering these items along with the bike, then you should take them. You might not need the shoes as the chances of the seller having the same feet size as you are slim. Plus you wouldn't want to wear someone else's sweaty footwear. But you WILL need shoes to ride the bike.
I've got you covered in this Peloton shoe guide.
9. Buying your Used Peloton Bike.
The last part of this how-to guide is actually to complete the buying process. Now that you know all the essential things to find out before buying the bike, the last step is to follow through. Meet the seller, ask questions, inspect the bike, negotiate prices if possible, and finally take it back home.
Make sure that when you are moving the bike, you disassemble things like the screen, seat, and pedals. Check out the video below that shows how to remove the screen.
Frequently Asked Questions
Will you get a warranty if you buy it used?
Peloton has stated on their website that the warranty is non-transferable. Which means the original buyer retains the warranty and you won't have any. So if there are any issues, you'll have to stand the cost of repairing and finding parts yourself.
However, since their bikes are relatively durable, you won't have any issues for the most part.
Should you buy it new instead of used?
Apart from having a warranty, there is no real reason to buy the bike new. If you want to save money, then it is better to buy it used as most used Pelotons for sale are in excellent condition.
Is there a discount for Peloton bikes?
Yes and No. There are referral codes that you can get online if you join the Peloton groups or by going to the official Peloton page and posting on the comments asking for a code. These ref codes will let you save $100 off from bike accessories.
For a direct discount on the Peloton indoor bike, your deal is buying it used. To get even more savings, I recommend purchasing a Sunny bike and paying for the Peloton Digital App. That will cut your total costs to around $600 for both the bike and a month of subscription! So if you want to save money then your best option is to look at the other bikes we linked to above.
Can the seller transfer their Peloton subscription?
Yes, transferring the Peloton subscription is a relatively simple process. The seller needs to give you the email address that they registered with, and you contact Peloton's customer service to have them move the subscription over to you.
Do keep in mind that the bike is pretty much useless without a subscription as you'll only have access to 3 demo rides.
That's pretty much all you need to know to purchase a used Peloton. It isn't anything complicated. However, you do need to pay attention to the things we mentioned. I've bought a few used bikes for family, and they've all had great experiences with them so you should too. Plus you save about $800 by purchasing the Peloton bike used vs new.
However, you need to make sure that you want a Peloton and not just the Peloton app. Most people don't know the difference, but you can get the same experience by only having the app and a cheaper stationary bike. Also if you want to see how the Peloton compares to other top contenders check out our Nordictrack S22i and Peloton comparison. Or this comparison of the Echelon Smart Connect vs Peloton.
With that said, welcome to the club! Having a Peloton is a great experience regardless of if you bought one new or used. Make sure you check out the resources we linked to if you need additional gear to enhance your experience.