I’m the first to admit — I love having my Peloton Bike in my living room on days when the weather is too dark and miserable to run outside. That said, if you’re not sure a Peloton is for you, or you don’t want to spend thousands of dollars on an exercise bike before you’re sure you’ll be able to fit regular spinning sessions into your routine, you can now rent a Peloton Bike for $89 a month.
Peloton’s new rental program, which launched last month, is now available throughout the US. It gives users the opportunity to rent the Bike or the Bike+ on a monthly basis, without any upfront costs. The rental includes the Peloton All-Access Membership (usually $44 per month), and users have the option to purchase the exercise bike at a reduced cost should they want to.
Looking to add one of the best exercise bikes to your living room but not sure you’re ready for the commitment? Read on to find out more.
The rental model is the latest attempt from the home-exercise giant to get more bikes into homes, following a drop in uptake after the pandemic. By making the bikes more affordable, and less of a permanent investment, Peloton is attempting to widen its target audience.
How does the Peloton Bike rental work?
The Peloton Bike rental cost includes the cost of the Bike and the All-Access Membership, which give you access to Peloton’s large collection of classes. Peloton have said, “Rented Peloton Bikes are a mix of new and refurbished Bikes that are thoroughly inspected, repaired, and tested to ensure they pass our quality inspection in order to be ready for you to start riding at home.”
It’s worth noting, anyone who has previously done a home trial is not eligible for the Bike rental program.
How much does Peloton bike rentals cost?
The rental costs $119 per month for the Peloton Bike+ — Peloton’s top-of-the-range exercise bike, which has a rotating screen, allowing you to take strength classes next to the bike, or $89 per month for the Peloton Bike. You also have to pay $150 for the delivery and set-up of the Bike in your home.
For reference, the upfront cost of the Peloton Bike+ is $2,495, plus $44 per month for classes. The Bike costs $1,445, plus the monthly membership cost. If you want to keep the bike after a few months of renting, you’ll be able to purchase the bike at a reduced cost, with the price based on how long you’ve been renting the bike.
Peloton Bike buyout pricing by date of buyout:
$1,295 at day 0 to 12 months
$895 at 12 months, 1 day to 24 months
$500 on or after 24 months, 1 day
Peloton Bike+ buyout pricing by date of buyout:
$2,345 at day 0 to 12 months
$1,595 at 12 months, 1 day to 24 months
$895 at 24 months, 1 day to 36 months
$750 on or after 36 months, 1 day
Once you buy the bike, you will also pay the $44 monthly All-Access membership.
What if you want to cancel?
You cannot freeze your membership at any time during the rental period. However, you can cancel and return your Bike for free.
If you do decide to rent, it’s worth noting that the bike doesn’t come with any accessories, so you’ll need to invest in a pair of the best shoes for Peloton if you want the best experience.