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Should I buy the Peloton extended warranty?

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So you just spent a good chunk of your monthly budget on a new Peloton machine. You already did your research and budgeting, then decided it was worth the money. Now it’s been delivered and you have to decide whether to buy the Peloton extended warranty. Below we will outline the fine print to the limited and extended warranties, to help you decide the best move for you.

Peloton’s limited home use warranty

Before deciding whether to shell out additional cash on an extended warranty, it’s important to understand the limited warranty Peloton already provides all of its customers. Whether it’s a Bike, Bike+, Tread, or Tread+, Peloton offers some substantial coverage for its fitness products for the first 12 months after delivery.

Peloton Bike and Bike+

According to Peloton’s support page, the limited home use warranty applies to the following components under original ownership, for listed time frames following delivery.

  • HD Touchscreen: 12 months 
  • Frame: 5 years
  • Bike and Bike+ components: 12 months
  • Bike and Bike+ pedals: 12 months
  • Labor: 12 months

Most of these items are self explanatory – components are comprised of the moving parts with the machine aside from the frame and pedals. Labor covers any technician costs for the repair or replacement of the Peloton during those first 12 months.

It’s worth noting that this limited warranty only covers the original owner of the Peloton Bike or Bike+. For a Peloton received as a gift, the owner of the original membership attached to that Peloton Bike is covered. The limited warranty is not transferrable and does not apply to used Pelotons.

Peloton Tread and Tread+

Much like the Peloton Bikes, the Tread and Tread+ have similar limited terms of coverage for various pieces of the machine, but with longer coverage.

  • HD Touchscreen: 12 months 
  • Frame: 5 years
  • Drive Motor: 5 years
  • Walking Belt: 5 years
  • Tread+ Components: 12 months
  • Labor: 12 months

The same limited rules apply to any Peloton Tread machines and only remain valid under the original owner. It’s important to note for the list of things covered, there is an even longer list of those not covered due to circumstances such as accidents, negligence, and acts of God.

Peloton extended warranty

Peloton’s extended warranty

To begin, one fact to help guide you in your decision of purchasing the Peloton extended warranty, is the time frame given to decide. Peloton offers customers a period of 12 months after delivery to add an extended service plan.

As you can see above, the limited warranty is quite substantial for at least 12 months. To that point, it’s not a bad idea to take the time to generate some real sweat on your Peloton to break it in, and get a feel for it. You then have 12 months to decide whether it might be wise to add some additional coverage.

Service plan coverage for Bike and Bike+

Speaking of coverage, here is what an extended warranty service plan will get you for an additional charge.

  • All parts and labor for qualified repairs
  • Hassle-free claims and easy arrangements via phone or online chat
  • Replacement of Peloton Bike or parts in the event they cannot be repaired
  • Mechanical and electrical breakdowns, failures from normal wear and tear related to a breakdown, and failure caused by power surges

The service plan does not cover any cosmetic deterioration or finish defects such as paint, dents, scratches, chips, breakage, loss, rust or peeling. Extended warranties are also not valid in Puerto Rico (sorry Puerto Rico).

Service plan coverage for Tread and Tread+

The coverage for Peloton’s Tread machines mirrors its Bikes.

  • All parts and labor for qualified repairs
  • Hassle-free claims and easy arrangements via phone or online chat
  • Replacement of Peloton Tread+ or parts in the event they cannot be repaired
  • Mechanical and electrical breakdowns, failures from normal wear and tear related to a breakdown, and failure caused by power surges

Additionally, this extended coverage plan does not cover any of the cosmetic damage listed above either.

Peloton’s extended warranty pricing

So now you understand what sort of coverage comes standard, what you can add to ensure the longevity of coverage, and how long you have to decide. That being said, the biggest question that’s likely on your mind when pondering any warranty purchase is, “How much?”

Prices vary depending on the Peloton product and the length of extended coverage. For instance, for the Peloton Bike the price for an additional 12 months of coverage is $145. For an additional 27 months of coverage, it will cost you $185. This is actually a business savvy move by Peloton here. For an extra $40, you receive an additional 15 months of coverage. Regarding the Bike+, extended coverage starts at $175 and can jump to $230 for 27 months of additional coverage.

To offer additional perspective, a single service appointment without a service plan could run you upward of $200. This includes parts and depends on the scope of the repair. That estimate comes straight from the company trying to upsell you a warranty though, so gather what you will from it.

The service plan costs for the Tread are even higher. For example, the price of 12 additional months of coverage is $270. For an additional 27 months of coverage, it’s $325.

Is the extended warranty worth it?

That’s a tough decision that varies by household. If you are a solo owner that uses your Peloton a few times a week, you probably won’t run into any devastating issues. Contrarily, Peloton has made a genuine effort to showcase the quality of its machines.

If you perhaps share your Peloton with a spouse, children, or other loved ones, the machine may take more of a beating over time. In that case, it may be worth exploring additional coverage.

The good news either way, is that new owners have 12 months to decide whether an extended warranty is a worthy investment. Why not use 11 months or so to do your worst… or best? on your Peloton, then reassess how it’s holding up before adding a costly service plan.