Peloton financing program makes buying the elite bike a little easier
The wondrous, and expensive, Peloton bike
While Peloton bikes seem amazing, I have yet to add one to my daily routine. That’s mostly because of the $2,000 price-tag that comes with the bike. The company is now offering consumers a new way to purchase the Peloton bike, including access to unlimited live and on-demand classes for an entire household, for the starting price of $97 a month for 39 months. This purchase program, which is through Synchrony Financial, requires no money down and has zero percent APR and includes a new Peloton bike, in-home delivery and installation service, and full access to Peloton’s library of content.
“We know that millions of people are interested in owning a Peloton bike and becoming part of the Peloton community,” said William Lynch, President of Peloton. “We also know that for many families, budgeting for mortgages, family obligations and other financial commitments can make paying $1,995 up-front for fitness equipment a challenge. We launched this new purchase option because we wanted to make Peloton’s unparalleled fitness experience more accessible to a broader population.”
The Peloton subscription, charged at $39 per month and included in the financing purchase option being announced today, has always given the entire household access to unlimited classes, inclusive of live rides and an on-demand library of over 6,000 classes taught by the world’s best instructors.
The financing program will offer consumers the ability to spread their payments over two terms: 39 months starting at $97 per month, and 12 months starting at $227 per month. Financing is offered as a purchase option through Peloton’s online store, as well as the company’s retail showrooms.
The $97 price-tag may still keep the bike out of reach for some, but will make it much more affordable for others. The Peloton classes on iOS are $14 a month, and don’t even get me started on how much SoulCycle is here in the city. Even at $97 a month, the Peloton is a pretty great deal for the cycling enthusiast.