The peloton bike is a revolutionary piece of cardio equipment. It brings fancy spin classes right into your home via its HD touchscreen interface.
The bike allows you to workout at the time of your choice. Overall the bike offers excellent training while occupying a relatively small space.
However, the cost of a new Peloton bike may feel a little heavy on your pocket. You can look into its biggest competitor, Echelon bike, or otherwise look more into this face-to-face Echelon vs Peloton competition.
Better yet, the best thing is buying a used peloton bike in excellent condition to save a huge amount of money.
The base generation 3 model starts at $1995 before tax, setup fees, and delivery. Fortunately, some previous buyers, who may have not found that much utility on the bike, sell them for a fairly good price.
In this article, we will discuss all you need to know to get the best deal for a used peloton bike.
Here’s a rundown of what we will cover:
- Advantages of buying a used peloton bike
- Disadvantages of buying a used peloton bike
- Who should buy a used peloton bike?
- When is the best time to buy a used peloton bike?
- Where to buy the bike
- Questions to ask the vendor before placing an order
- Things to consider at the point of purchase
- How to transport your recently purchased peloton bike
- Frequently Asked Questions (FAQs) on used peloton bikes
Advantages of Buying a Used Peloton Bike
- You avoid the common pattern of instant value loss. As with most equipment, the Peloton bike loses a few hundred bucks the moment it leaves the store. This by itself equals significant savings.
- The price is much cheaper. The typical, nearly new peloton bike costs about $1,600. This number could go lower depending on the seller and the condition of the bike.
- You can easily afford the live classes. From the aforementioned cost savings, it becomes much easier to cover the $39/month subscription fees. This is one of the biggest selling points of the Peloton bike.
Disadvantages of Buying a Used Peloton Bike
- In most cases, you don’t get a warranty. A new Peloton bike comes with a 5-year warranty on the frame. You also get a 12-month warranty for parts and labor.
- There may be underlying problems with the used bike. Unless you dismantle the bike in parts, some issues can go unknown. This may potentially turn into extra costs in the future.
- You miss the unboxing experience. Hear me out. There’s a thrill that comes with using new stuff for the first time. It’s great to know that you are the first person to use the bike.
You can rest easy knowing that the majority of people are not going to be hammering their bikes. As such, most units would be in pristine condition.
Also, you have the liberty to inspect the bike to your satisfaction before purchase. This applies for people who prefer physical exchanges.
We’ll cover other techniques of fool-proofing your online purchase in the subsequent parts of this article.
Who Should Buy a Used Peloton Bike?
The peloton bike is a great piece of training equipment. However, it’s not entirely unique. There are other amazing alternatives such as the echelon bike or the NordicTrack S22i.
Remember, these bikes cost lesser than the peloton. People should buy a used peloton bike for its incredible live class provisions.
They arguably have the best video tutorial experience in the market. However, this cannot be the chief reason to buy a bike.
This is because these classes can still be accessed from other platforms. You also need to be in love with its premium build quality and general aesthetics.
When you combine these three reasons, then buying a used peloton bike would be ideal. You must also be comfortable with using a second-hand product.
When is the Best Time to Buy a Used Peloton Bike?
When you have partial experience in weight loss and cardio space, you can consider buying your own training equipment.
A used peloton bike would be one great option to start with. It allows you to take control of your cardio schedule right from the comfort of your home.
The best time to buy a used peloton bike is when you have explored all about a peloton bike.
It’s of the essence that you have done your research on the value proposition of a peloton bike, new or used.
Once you have ruled out other alternatives, then you can proceed to purchase a used peloton bike.
Where to Buy the Bike?
Buying a used peloton bike should be a careful undertaking. You need to look in the right places. This goes a long way in ensuring quality. It also reduces the chances of getting scammed. So where should you look? The following are the best places to buy a better-used peloton bike:
eBay is one of the best places to buy second-hand products in general. The site supports quality return policies.
This means that you can always return the delivery in case it turns out not satisfactory. They can also integrate shipment into your order. This option especially is crucial given the size of the bike.
2. Facebook Marketplace
This is a great place to look for a used peloton bike. The site contains most products you can possibly think of.
Here’s how it works.
A seller posts the specs and pictures of their item. In this case, a peloton bike. They also specify their location, price, and contact information.
From here, you can simply call them for more details on the bike. Caution must be observed to ensure that the vendor is genuine. More tips on this later.
Craigslist comes as a convenient option. This is because you can find products from vendors near you.
Better purchase decisions can be made as you now have the option to physically inspect an item before purchase.
The site is popular.
As such, try to grab any great offers quickly before they are sold out. Be careful of some fraudsters on the site as well.
4. Fitness Communities
There are literally thousands of fitness communities in the United States. All you need to do is find one near you.
You can do this by running a quick online search on Google or on social media platforms such as Facebook. It’s highly recommended that you narrow it down to specifics.
For instance, cardio or peloton groups. Once you are there, it’s common to find a listed used bike for sale.
If you don’t find one of these, then simply post an alert. You can find great recommendations and leads.
We will now discuss tips that will help you negotiate the best deal possible on a used peloton bike.
Questions to Ask the Vendor Before Placing an Order
Why are you selling the bike?
This should be the first question!
It’s important that you find out the reasons why the seller doesn’t want the bike anymore. In most cases, it’s rarely due to a mechanical issue.
It’s often due to not finding much utility with the bike. Either way, just find out to avoid suffering the same fate.
Are you the first owner?
This serves as one of the earliest quality markers. More often than not, initial buyers take good care of items.
Besides that, they also know all about the bike. They can disclose any wear and tear on the bike besides the visible ones.
When did you purchase the bike?
This should give you the age of the bike. While age may not be a good indicator of condition, it will let you in on the generation of the bike.
The later the bike, the better the features.
As previously stated, you will not get a warranty on any bike, even those that are less than a year old.
What generation screen does the bike have?
There are three peloton bike generations. Generation 1 has a quartz display with the model number QUARTZ or 001.
These have a red button on top of the display with the volume rockers on the sides. Generations 2 & 3 are somewhat similar.
Generation 2 has a model number of RB1V1 while generation 3 has a model number of RB1VQ. The earlier the bike, the better the deal.
However, again, the peloton bike stands out for its live classes. Therefore, it’s recommended that you shed off more dollars for a later-generation bike.
These have faster processors, better speakers, higher resolution, screencast and more RAM.
#How much have you used the bike?
This boils down to the number of rides. The lesser the bike has been used, the lesser the rate of wear and tear.
Rough handling of the bike can translate into mandatory repairs.
A common >$100 problem is often with the flywheel bearing. Each ride also places a toll on all parts, mechanical or electronic.
What accessories come with the bike?
Accessories typically accent your experience on the bike. While they are not necessary, they sure are great to have!
Focusing on cost, many accessories will help offset the price. The most common add-ons include heart rate sensors, headphones, mats, weights, and shoes.
If you don’t like any of these items, you can always sell them off and buy the ones that fit your needs.
Is the live class subscription active?
You can always factor in the number of paid months in relation to the asking price on the bike. If this doesn’t appear to affect the cost, then it’s a plus for you!
Once you are satisfied with these answers, it’s time to order.
Do not, under any circumstances, make any payments before inspecting the bike in person. Unless of course, you are buying on eBay.
Things to Consider at the Point of Purchase
Physical bike checkup tips:
1. Physical Inspection
Take a close look at the bike’s exterior. Be keen to find any scratches or blemishes of any kind. This should affect the price you pay for the bike and act as a point for a bargain.
Check out the condition of the wheels, seat, handlebars, frame, and pedals, among others.
2. Electronic Inspection
The peloton bike’s glory lies with its electronics, the HD touchscreen display to be precise. To get the best out of your used bike, this piece must be in excellent condition. Turn on the bike. Check that the screen is not broken or has any fault lines on the panel. Try all wireless connections including a screencast, Wifi, and Bluetooth. Test the speakers with a sample track.
3. Ride the Bike
Before you jump on the bike, spin the pedals and listen closely for any squeaking sounds. Now get on the bike and ride at varying resistances. Check for stability and silence.
Now that you are satisfied with the bike, it’s time to take it home.
How to Transport Your Recently Purchased Peloton Bike
- Remove the handlebars by releasing a small Philips screw on the front bottom of the handlebar base. Remove a small clip behind the handlebar screen that holds the cables. Pull the cables out by opening the Velcro strip that keeps the cables on the handlebars.
- Remove the screen by raising the handlebar stem until it comes out.
- Remove the seats by loosening the knob to let the seat slide out.
- Secure the screen and handlebars in your car. Keep the screen on a flat surface. Ensure that it’s not wobbly as you drive.
- Find help to lift the bike into your care, CAREFULLY! If possible, let the bike stand in its upright position. Avoid resting it on the water bottle holder as it may break.
- Check that all items are secure before you drive off.
Frequently Asked Questions (FAQs) on used peloton bikes
#Does a use peloton bike come with a warranty?
Peloton has specified on their website that warranties on the peloton bike are not transferable. Therefore, in the event of any issues, you will need to cover the repair costs. This policy may be in place to avoid complicated back and forth with clients.
#Which one is better, the new or used peloton bike?
This is entirely dependent on user preferences. A brand new bike would be ideal for people who want to experience the shiny glamour of a brand new bike. It also resonates well with people who want to be under warranty. Apart from those two reasons, there is no reason not to get a used peloton bike. They are much more cost-effective. Also, most users maintain the bike fairly well. So it’s possible to get one that is as good as new.
#Do peloton bikes have discounts?
In some cases, it’s possible to purchase the bike at a discount. You just need to visit online peloton groups. However, it’s more likely that you will find a discount of a few dollars on accessories than on the bike itself.
#What is the longevity of the Peloton bike?
Peloton bikes are designed with high-quality, strong, premium materials. As such, they are long-lasting. They can offer excellent service for over 10 years under good care. When it comes to used peloton bikes, a number of factors come into play. However, they are mostly to do with the condition of the bike prior to purchase. Assuming the bike is in fairly good shape, expect at least 3-4 years of good service. This can go on as long as you take good care of the bike. A bonus tip would be to get an annual inspection on the bike. This can help solve simple problems as they arise.
Buying a used peloton bike is going to be a great decision after all. These bikes offer the same functionality and great features at a much lower price. All you have to do is look for a bike that hasn’t been used much and is still in excellent condition.
To get the best value for your money on a used peloton bike, consider your budget and allocated workout space. Check out used bikes on the sites we have discussed in this post and then make a choice.
All the best!
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