With millions of Peloton bikes having been sold over the past few years, there has never been a better time to get a great deal on a used one. Where is the best place to buy a used Peloton Bike for sale? We will cover that and much more.
Peloton has seen demand skyrocket during 2020 thanks to the COVID-19 pandemic. As gyms were shuttered across much of the world, people were looking for better at-home options for their fitness needs. Peloton, thanks to its interactive classes, was a very popular choice for people wanting to alternative workout environment that can be done at home.
While most people prefer to purchase a new Bike to get the white glove setup and delivery with an included warranty, a used Peloton makes a lot of sense for those looking to save a bit of money.
Best options to find a used Peloton Bike for sale
One of the best places to start is your local Facebook marketplace. Due to a Peloton bike’s weight and size, finding a local option is the best solution. You’ll be able to examine the product ahead of time and even possibly try it out.
Searching eBay for Peloton bikes is an option but they will be very expensive to ship. However, it’s possible to find one at a good enough price to be worth your while to ship, but it would be ideal to find one that does local pickup. Even if you have to drive an hour or two, it would likely still be less expensive than shipping a bike.
A final option would be to search on your local Craigslist pages. People who are selling Bikes locally will likely list on Craigslist as well as on Facebook marketplace. Keep in mind, there may be more scams on Craigslist so just make sure to only buy a bike after testing it in person.
How much should you pay?
Fortunately for you, Peloton has recently lowered the cost of a new original bike to just $1499. Most people selling their bike paid a lot more than this so it is not uncommon to see used Pelotons listed for more much more than they are now worth.
Personally, $1,100 is the most I would pay… but ideally I would be trying to find one for under $1,000 that is still in perfect condition. This is definitely possible as long as you are a little patient and quick to respond to new deals as they are listed.
Can you get a warranty on a used Peloton Bike?
Most will caution against buying a used bike because the warranty that Peloton provides is not transferrable. While true, what people do not realize is that there is a way to buy extended warranty for a used Peloton Bike. Here’s how to do it:
- Make sure the Peloton bike that you want is less than 11 months old.
- Make sure the owners of the Peloton bike still have access to a receipt for their order.
- When purchasing the bike, have the owners buy an extended warranty coverage through Upsie (just have them use your card so they don’t pay for it).
- Upsie’s extended warranty plans are transferrable, so once purchased the original owners can then transfer it to you once you have purchased the bike.
Personally, I would not purchase a used Peloton bike without this coverage. Fixing an issue on a Peloton bike can cost hundreds of dollars so not having a warranty just seems very risky. I am sure there will be sellers who may not care to help in this way, but the good thing is there are plenty of sellers available who will.