WHY IS EVERYONE SELLING THEIR PELOTON?
There are four main reasons why everyone is selling their Peloton Bike:
- Safety Concerns
- Monthly Fees
- Not Using It
- Pandemic Boom Turned Bust
REASON #1 – SAFETY CONCERNS
The first reason on the list that scares people into selling their Peloton Bike is safety concerns. There have been numerous incidents over the years where bike riders have reported their seat or bike pedals breaking. The results of some of these scenarios range from minor injuries to lacerations that require stitches. Even though there have been recalls issued for these faulty bike parts and free bike part replacements are available, some people just aren’t comfortable riding a bike where the bike seat could potentially break and they fall off or have the pedal break and the jagged edge creates a laceration on their leg, makes sense.
If you are one of those people, you definitely want to take the time to learn as much about the Peloton before determining whether or not it’s the right stationary bike for you and you can do that by reading this Peloton Bike: Full Length Review & Hidden Usability Advantages blog post
REASON #2 – MONTHLY FEES
Monthly fees are also a contributing factor as to why people are selling their Peloton Bikes. After spending $1,695 to $2,695, before taxes, warranty and installation fees, it’s really hard to stomach a monthly app membership fee between $12.99 and $49.99. Once you start calculating the total cost of the bike just to get it in your home and then the monthly fee after that, if you’re not using it almost everyday, you might determine it doesn’t make sense and that’s just one more reason why you would decide to sell your Peloton Bike.
REASON #3 – NOT USING IT
The cost benefit analysis of Peloton bike is hard enough to sell to individuals that are actually using the bike. If your Peloton Bike is just an expensive clothing rack in your home, which you aren’t using in the manner it was intended for, it makes absolutely no sense for you to keep it. Just one more reason added to the list as to why people are selling their Peloton Bikes.
REASON #4 – PANDEMIC BOOM TURNED BUST
The CoVid Pandemic Peloton bike boom turned bust, is another reason why people are selling their Peloton bikes. During CoVid, high human contact business like gyms had to either shut down or were extremely limited in how they could operate. The unique situation created by CoVid allowed Peloton to thrive, because all people could safely do at the time, was work out at home. Consequently, the high price tag of the Peloton seemed more bearable in a situation where there really are no other work out options. To add on top of that, the stimulus checks handed out by the government made the bikes more affordable. Now that CoVid isn’t a death sentence anymore, when comparing the cost of a monthly gym membership to the cost of paying a monthly Peloton App subscription fee, some people just opt to get out from under the monthly cost of the Peloton and get a regular gym membership.
Those are some of the top reasons that people are selling their Peloton, but the truth is, the Peloton Bike is not without fault and there may be other reasons why people sell their Peloton, if you want to learn a little bit more about what some of those issue are, read the following blog post, The Peloton Bike Isn’t Perfect — Here’s What Buyers Should Know.
WHY DID DANA WHITE GET RID OF HIS PELOTON?
One of the more influential reasons as to why people are selling their Peloton Bikes is because Dana White removed them from his UFC gyms. Dana White removing the bikes from his gym was prompted by Peloton asking Theo Von to remove a controversial podcast episode with John F Kennedy. On this particular podcast episode, Von and Kennedy discussed a variety of controversial topics that ranged from vaccines to Pandemic management. Pelotons stance was that Theo Von discussed a variety of topics that didn’t line up with company policy or brand guidelines. Depending on what side of the fence people stood on as it related to Peloton not associating with the Theo Von Podcast any more, some people decided to sell their bike. At the same time, there were a group of people that were indifferent and kept their Peloton.
CAN YOU TRADE IN YOUR PELOTON BIKE?
If you fall into the latter category, thankfully you can trade in your Peloton bike through the Peloton Repowered program. The Peloton Repowered marketplace is the official Peloton resale marketplace. To be clear, Peloton is NOT buying back Peloton equipment, with the help of Archive resale, they are facilitating a trustworthy marketplace where Peloton buyers and sellers can connect and find what they want. Selling your Peloton Bike through Peloton Repowered gets you 70% of the sale price, the other 30% is the cost of doing business and goes to Peloton. In addition to that, once you sell equipment through the repowered marketplace, there are the following discounts depending on the type of equipment that you may want to upgrade to.
- Bike+: $400 off
- Tread: $200 off
- Tread+: $600 off
- Row: $200 off
Peloton Bikes listed for sale on the marketplace can range anywhere from $290 to $1,500 with most of the listings hovering around the lower price point. However, with the discounts listed above, if you are going to upgrade to a new Peloton, the $200 to $600 off definitely helps make the lower sale price easier to deal with.
If you’re not getting a new Peloton, it may make sense to list on other platforms where the commission is lower and the seller gets to keep more of the profits.
HOW MUCH IS A REFURBISHED PELOTON BIKE?
The Peloton Repowered Marketplace is a great platform to buy a Peloton as well, but the Peloton Bikes found here are not refurbished bikes, they are bikes sold by individual party’s that simply don’t want or need them anymore. A refurbished Peloton Original Series Bike cost $1,145 and a refurbished Peloton Original Series Bike+ cost $1,995. Peloton Bikes are way cheaper on the Repowered marketplace, but keep in mind that refurbished bikes sold on the Peloton website are thoroughly inspected, repaired and tested by Peloton. These refurbished bikes also come with worry free warranty.
