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Ride Now, Pay Later. How to Finance Your Peloton Purchase

Ride Now, Pay Later. How to Finance Your Peloton Purchase

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Whether it's that you can get a great workout and track your progress and metrics or push yourself with competitive features and on-demand classes, you have loved Peloton bikes since the moment you first laid eyes on one.

For these reasons, and likely among many others, you have decided you want to buy one, but the main question standing between you and having a Peloton bike all to yourself at home is, how do I finance this?

The Peloton Price Tag

If you go with the bike basics, you are looking at a price tag of $1,895. This includes the bike, delivery and assembly, and a 12-month warranty. Peloton offers three other options that are consistent as far as including these same three parts with your purchase but go up in price because they provide a few more features that you may decide you need or would be nice to have.

Their bike essentials package includes one pair of shoes, one set of bike weights, and one pair of headphones for $2,045.

Their bike works package includes all of these and a heart rate monitor and bike mat for $2,145.

If your Peloton bike will not, in fact, be kept all to yourself, they sell a bike family package as well for $2,345 that includes an extra pair of shoes, bike weights and headphones, and an additional heart monitor and water bottle.

Peloton Bike+ | Indoor Stationary Exercise Bike with 24” HD, Anti-Reflective Rotating Touchscreen

How to Pay for a Peloton in Installments With Affirm

As you can see, a Peloton is a substantial investment and not something everyone can or will buy upfront. Peloton takes into account the demand for monthly payments, which is why they partner with Affirm to make payments straightforward and manageable. You can invest in your Peloton with no money down, no hidden fees, and zero APR financing. With Affirm you can Ride Now, Pay Later on a new Peloton and reach those New Year's fitness resolutions!

What Is Affirm? How Do You Qualify and Pay in Installments?

Affirm is a publicly-traded financial technology company that operates as a financial lender of installment loans for consumers to utilize at the point of sale to finance their purchase. Simply put, they enable people to make bigger purchases without compounding interest, penalties, and late fees the way that credit cards do. So, it is a lot like a credit card, without your purchase(s) resulting in unhealthy debt.

When you purchase a Peloton (or anything) through Affirm, you find out your total cost upfront, and you choose a payment plan that works for you.

All you need to do to prequalify and begin checking out through Peloton's website is to select the option “Pay Over Time.” You will then fill out an application where you will enter a few essential pieces of information and receive a real-time decision. You are subject to a credit check and approval. If and once approved, you can select your monthly financing option, whether 12, 24 or 39 months.

Peloton Bike

Images from Peloton Bikes

Is a Peloton Worth the Investment?

How much money do you currently spend monthly on fitness? If you want to figure out how Peloton would compare and how much you can save over time, you can use Peloton's value calculator.

Depending on your current fitness costs, routine, and travel time, purchasing a Peloton could end up saving you money. In either case, everyone saves money once their bike is paid off. And unless for any reason you need to keep your bike someplace else, you will save 100% of your time by not traveling to and from the gym, and it's hard to put a price on convenience.

Your value calculator will break down your price per workout on your Peloton, cost over time, savings (where applicable), time saved per month traveling, and how long it would take for you to break even where the bike pays for itself. All of this is calculated and displayed in comparison with your current monthly fitness costs.

What Are the Benefits of Owning a Peloton?

Apart from ultimately saving money on a gym membership or other monthly fees, whether trainers or app subscriptions, there are many other benefits to owning a Peloton.


With the Peloton's live and on-demand classes through their All-Access Membership, you can take the following types of classes on the bike or through the Peloton app when on the go:

  • Cycling
  • Barre
  • Strength
  • Running
  • Yoga
  • Pilates
  • Meditation
  • Cardio
  • Walking
  • Stretching

Not only do people love Peloton classes because they are led by motivating quality instructors, but they use a wide variety of music.


Peloton is much more than a bike – it's a community, and you have numerous ways to connect as well as compete if that’s more your thing.

  • On the leaderboard, you will see a list of all the people taking the same class and their real-time ranking.
  • You can add tags to your profile, such as your hometown or college, to connect with even more specific communities. Say you were to make a special connection with someone, you can also follow friends by searching for them on the leaderboard. You can see their profile, workout history, and when they're working out when you are logged into the app or bike.
  • The “Here Now” feature available during on-demand classes or on your Peloton iOS app enables you to send other members encouragement by tapping on their avatar. For instance, you might send someone a notification for reaching a milestone or as a way of acknowledging their birthday. The Peloton instructors can also give you high fives to keep you motivated – so fun!
  • You can also video chat with the people you already follow! All you have to do is select their name and hit the “talk” button to request a video chat so you can motivate each other and have some fun.
  • Finally, there is also an Official Peloton Member Page on Facebook – just another one of the many ways you can encourage others and share your milestones, as well as give and receive helpful tips.

What Are the Additional Costs Beyond the Bike?

As mentioned in the beginning, the Peloton is sold in various packages, and each bike package purchase requires a $39/month All-Access Membership. This is where you will get access to all the live and on-demand classes and set up individual profiles for everyone using the bike. With this membership, you also get free access to the Peloton app so that you can do any of the workouts from your phone, laptop, TV, or even your smartwatch. You can pause it or cancel anytime.

Depending on which package you purchase, you may need to buy some of your own accessories separately, shoes being the most important if you opt for just the bike basics. Note that you do not need Peloton shoes, but if you decide to use or purchase your own, the Peloton cleats only attach to shoes with a 3-screw hole setup. The Peloton pedals are clipless and only compatible with Look Delta cleats. However, these can also be changed out – the Peloton bike uses a 9/16″ standard pedal connection.

You can purchase your own heart rate monitor, and the bike is Bluetooth 4.0 enabled, so you can purchase your own headphones as well. If not Bluetooth, then you can use any wired headphones with a standard 3.5 mm connection. There are built-in speakers on the bike, however.

Now that you know a bit more about your options for accessories, it will be worth it for you to compare the costs of what you want to use or what you already have before purchasing a bike package. You may end up finding that a package higher than the basic one is more than worth it.

What About Maintenance and Repair? Do I Need a Warranty?

The Peloton Bike comes with 12-month limited parts and labor warranty. You can also opt to purchase an extended warranty for an additional 12 or 27 months. Warranty coverage is limited to home usage in the U.S. and within Peloton's service area.

The warranty fully covers the bike's touchscreen and most bike components. The frame, on the other hand, is covered for five years.

Should your bike need a repair within that coverage period, Peloton will send a trained technician to your home to fix it.

Ready to ride?


Explore Peloton alternatives that offer flexible financing options!

Images from Peloton Bikes

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