Peloton Just Made Its Bike Cheaper

Peloton Just Made Its Bike Cheaper
Photo: Scott Heins/Stringer, Getty Images

If you’re still on the fence about buying a Peloton Bike, the company is doing everything in its power to talk you into it. After dropping the price of the original Bike last year, Peloton is permanently knocking off another $US400 ($552), from $US1,895 ($2,615) to $US1,495 ($2,063), for customers in the U.S., UK, Canada, Germany, and Australia.

In a blog post, Peloton says the move is meant to “help people be the best version of themselves by making it easier to access world-class fitness and wellness content.” This is Peloton’s second recent Bike price cut — during the pandemic, the company introduced a higher-end Bike+ and dropped the price of the original Bike down to $US1,895 ($2,615). If you combine both discounts, Peloton’s cut the price of its entry-level bike by $US750 ($1,035) in the last year.

The price drop is good news for anyone currently shopping around for at-home fitness options. But if you recently bought the Bike, it’s probably incredibly frustrating to hear that it’s now cheaper. However, a Peloton spokesperson told Gizmodo that the company plans to offer proactive refunds. Anyone who bought a Peloton Bike in the last 30 days or is waiting for their Bike to be delivered will be refunded the difference in price. According to Peloton, that includes any member who had a delivery on or after July 27.

But you know Peloton is extra as hell. The company says it’s also extending financing offers for the Peloton Bike+ and Tread, which is scheduled to officially launch Aug. 30 in the U.S., Canada, and UK. (It’ll arrive in Germany later this fall.) While that’s not a discount, it does offer people the ability to pay a more manageable monthly fee over a longer period of time. That means you can opt for a $US59 ($81) monthly fee over 43 months at 0% interest for both devices. (The cost of the machines doesn’t include a Peloton membership, which unlocks the classes you can take.)

Despite having to recall both its treadmills, including the cheaper Tread that hadn’t even officially gone on sale, earlier this summer, it doesn’t seem like the company is slowing down. In the past four months, it’s released a host of new features, invested $US400 ($552) million to build a U.S.-based factory, and announced it was working on its own on-device video game. The company is also rumoured to be working on a wearable heart rate armband.