Is the Peloton Extended Warranty Worth it?
Congratulations, you finally took the plunge and purchased a new Peloton to help you reach your health and fitness goals. Your friends may roll their eyes and say something to the effect of “of course, you jumped on the bandwagon” or “oh, so you’re into the exercise craze”? It doesn’t faze you, though. You know that deep down, they’re just jealous.
While confident in your purchase, you keep getting offers to add the extended warranty. Well, is the Peloton extended warranty worth it? Depending on the Peloton product you own and the length of coverage, prices for 12 months range between $145 to $325. However, even with the price tag, it is worth it if you will “hit the pavement” daily and have the extra funds.
Answering the question, is the Peloton extended warranty worth it will depend on your workout lifestyle and financial constraints. Are the decision-makers at Peloton just trying to squeeze every bit of profit out of their new and exciting product? What do the warranties even cover? Are there additional costs to consider? Let us explore your options!
What Does the Peloton Limited Warranty Cover?
When you purchase Peloton workout equipment, they come standard with a limited manufacturer warranty. Yet, it is important to note that the limited warranty is only offered to the original owner of the equipment, so if you get your equipment and decide it is not the right fit for you and resells, the warranty cannot be transferred.
Pelotons’ limited warranty on their bikes covers the screens for 12 months, the frame for 5 years, the Bike and Bike+ components for 12 months, Bike and Bike+ pedals for 12 months, and labor for 12 months.
For their Tread and Tread+, it covers the touch screen for 12 months, the frame, drive motor, and the walking belt for 5 years, the Tread+ components for 12 months, and the labor for 12 months.
Peloton Extended Warranty
As you can see above, with their limited warranty, Peloton allows you to use your equipment for a year while feeling confident that if any part of your machine breaks or stops working, they will come and fix it.
The extended warranty covers all parts and labor, in addition to over the phone and online chat through their subscription, where you can submit hassle-free claims and easily set up a specialist to come and service your equipment.
With the extended warranty, Peloton will replace any bike or tread parts that cannot be repaired. They fix mechanical and electrical breakdowns and failures from normal wear and tear or even causes from power surges.
They do make it clear, though, the warranty does not cover any cosmetic damage or damage from, say, your dog chewing and physically damaging the machine.
How Much for Extended Warranty Coverage?
The price for their warranty varies based on which of their pieces of equipment you own and how long you wish to have coverage.
The Bike with 12 months of coverage, the price is $145, but for 27 months of coverage, it will only cost you another $40, totaling $185. However, the Bike+, the first 12 months cost $175, and the next 15 months cost $230.
Unfortunately, if you are a Tread user, you’re going to keep paying more. The extended warranty for the Tread and Tread+ are $270 for 12 months or $325 for 15 months.
To discover more details on the extended warranty, click here.
Other Fees When Purchasing a Peloton?
After you get your bike or treadmill, you’re not quite finished yet. Peloton has a monthly subscription service you must subscribe to that allows you access to the trails, workout classes, and body tracking.
Peloton’s monthly subscription on the app starts at $12.99 a month. The app membership is only available for mobile devices. If you want the membership available to use on your Bike and Tread, the cost is $39 a month.
While $39 per month does seem steep, if replacing a monthly gym membership, saving gas, and saving time, then the give and take could be well worth it.
Are Free Memberships Possible?
Believe it or not, there are ways to get free Peloton memberships. Typically, when you first purchase a Peloton workout machine, it comes with a few months free to try it out. The free trial is their way of getting you hooked and coming back for more.
All hope is not lost if you have already burned through your free trial. Insurance has finally figured out that they can also invest in their client’s health, leading to fewer doctor visits and fewer medical bills for them to process. Insurances like Blue Cross Blue Shield will pay for your gym membership, and some will even pay for a peloton subscription. Finally, they recognize it as a great way to stay invested in your health.
Contact your insurance provider to see if they will cover your Peloton subscription.
Mechanically Inclined? Hands off!
Should you decide to stick with the limited warranty and are still in your first 12 months of using your Peloton, or if you have already decided to purchase the extended warranty. If a small problem arises that you or your helpful partner think is an easy fix, proceed with caution, or better, don’t proceed at all.
The limited and extended warranty is void if the Peloton repair employees even suspect that you or anyone else has tampered with the machinery. It is important to note if something does happen to your equipment that is not covered under warranty, as long as you have not tampered with it, Peloton will give you your first replacement for 50% off the sticker price.
Get your Peloton home, try it out; if you find yourself avidly using it and loving it, then investing in the extended warranty is going to be worth it for you. If you get your Peloton and find it collecting more dust than sweat, spending the extra money is probably a waste.