Peloton Monthly Cost

Peloton monthly cost and payment guide

Peloton is quickly becoming the world’s most popular exercise brand with its unique bikes and treadmills that offer a gym class experience from the comfort of your home.

Many people choose to spread the cost of their Peloton purchases with interest free financing offered on the official Peloton website. Below is a comparison of peloton monthly cost plans available for new Peloton purchases with Affirm.

How much does a Peloton bike cost per month?

Peloton bike cost

Depending on the package, Peloton bikes can cost as little as $48.59 per month. The table below shows 3 payment plans offered by Peloton and Affirm (financing company). The payment examples here are for the Peloton Bike Basics package which retails for $1,895.

Peloton Bike Basics12 Month Payment24 Month Payment39 Month Payment
Monthly Cost$157.92 / monthly$78.96 / monthly$48.59 / monthly
APR0%0%0%
Interest$0$0$0
Total Cost$1,895.04$1,895.04$1,895.01
Peloton bike basics monthly breakdown

How much does a Peloton treadmill cost per month?

Peloton treadmill cost

The new Peloton treadmill is available from March 2021 and will cost $64 per month if you pay with a 39 month payment plan. The total cost starts at $2,496 for the Peloton tread basic.

Peloton Tread Basics12 Month Payment24 Month Payment39 Month Payment
Monthly Cost$208 / monthly$104 / monthly$64 / monthly
APR0%0%0%
Interest$0$0$0
Total Cost$2,496$2,496$2,496
Peloton tread monthly cost breakdown

Will my Peloton purchase affect my credit score?

No, purchasing a Peloton will not impact your credit score. If you choose to finance your Peloton a soft credit check will be done by Affirm, Peloton’s financing partner. A soft credit check will not affect your credit score, even if your Peloton purchase is not approved. The process of pre-qualifying takes minutes and only requires you to enter a few details.

What information does Affirm need before I purchase?

To see if you qualify for monthly financing, Affirm will need you to confirm the following pieces of information. This will allow the company to check if you are eligible for a Peloton purchase. It is important that you enter these details correctly.

  1. Full Name
  2. Address
  3. Social Security Number
  4. Pre Tax Income

Important – Make sure you do this

Make sure your billing address matches the address your bank has on file. Address discrepancies is the most common reason Affirm reject approval.

To improve your chances of being approved, we recommend reading our article on the 5 most common reasons people get denied by Affirm.

Can I pay off my Peloton purchase early?

Yes. You can pay off your Peloton quicker by making a payment anytime via the Affirm app. The option to “make a payment” in the app means that you can pay for your Peloton bike or treadmill at anytime. There is no extra fees or penalties for pre-payments.

The flexibility offer by Affirm to pay the minimum repayments interest free or pay for your Peloton in larger lump sums is one of the most appealing reasons to purchase your Peloton with Affirm financing.

Is it better to purchase with a credit card?

The main advantage of purchasing with a credit card is the ability to receive cash back from your purchase. Some people choose to take out a new credit card with 0% interest and a favourable cash back rate to purchase a Peloton.

While this has its benefits it is important to remember that most credit cards will have an interest free period of up to 20 months. After this period the interest rate can be extremely high. Affirm financing allows interest free payments up to 39 months. If you are confident you can make the repayments within the interest free period and would like cash back then purchasing with a credit card may be a good option for you.

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