Yes. The extended warranty from Peloton, which can be for the bike, the bike plus, the tread, or the tread plus is worth it for me. But it all depends on how you use your Peloton equipment.
Extended warranty is available for equipment with multiple users or who use it frequently. The original limited warranty for equipment is sufficient for those who don’t use it often. It’s not like a peloton are some cheap piece.
What is Peloton Extended Warranty?
Peloton made major changes to their extended guarantee program as of April 5, 2022. These changes are only for US Peloton members. Extended warranties in Canada, Australia, Canada, and Germany appear to remain unchanged at the moment.
The biggest change to the program is the Peloton extended warranty. It can be transferred if you sell or purchase a bike or tread device from an owner. Peloton previously prohibited the transfer of warranties between owners. This policy applies only to extended warranties (protection programs) purchased after April 5, 2022.
Another change is that members who purchase their device secondhand can now buy an extended warranty plan, provided they do so within 12 month of original purchase.
Members used to have the option of purchasing a 12-month extension or a 27-month extension. However, members now only have the option to select a 36-month extension to their original limited one year warranty.
Peloton equipment comes with a warranty. However, different accessories and labor are covered differently.
What is Peloton Limited Warranty?
The Peloton Limited Warranty is the time that the company covers your equipment after it has been purchased. After the item has been delivered, there is a grace period during which the company will cover any manufacturer defects. Even better, some flaws can get you a replacement tread or bike.
Peloton’s limited warranty varies depending on the service or part. It generally covers 12 months from the date of purchase. You might be able to get parts of your peloton equipment covered up to five years. Sure!
This is why most peloton users insist on using the extended warranty. Importantly, the parts covered by the extended warranty for five years are the ones you would be most concerned about.
Let’s now look at the different warranties and what is covered.
The following items are covered by warranty for twelve months from the date of delivery
- Bike HD Screen/ tread HD Screen
- Bike or Bike Plus, bike components/ tread/ tread plus and tire components
- Bike or bike plus pedals
The warranty covers the following parts: bike plus, tread and tread plus for a maximum period of five years from the date of delivery.
- Bike frame
- Tread or tread plus motor
- Walking belt plus tread or tread
You must ensure that your equipment is repaired or replaced by Peloton if you want the limited warranty to apply to your case. The warranty will be null if the warranty is void if the equipment is repaired or replaced by a third party mechanic. Bike riders love to swap out their peloton pedals for dual pedals. This could cause your warranty to be voided.
The limited warranty does not apply to equipment purchased from someone other than Peloton. It is only applicable to the original owner.
Peloton also updated their pricing to reflect the lengthened warranty. The extended warranty price is slightly more expensive at $15-20 per month, but the monthly cost is actually lower because the warranty length has been extended from 27 to 36 months.
Update – It’s possible to return an extended warranty that you have purchased previously, but it hasn’t yet kicked in (i.e. If it has been less than one year since your bike/tread was purchased, it may be possible to exchange the extended warranty for a new one. For more information, contact your local Peloton showroom.
The equipment and the length of the extended warranty will vary. Let’s get into the details.
Below is a breakdown of price changes for the Peloton extended warranty/protection plans (prices for US customers):
|27 Month Extension – 39 Months of Total Coverage
|12-Month Extension – 24 Months of Total Coverage
Peloton now offers a financing option through Affirm for warranties. This was previously not available to customers. Affirm offers a range of payment options for members, ranging from $5.11 to $5.79 per monthly for terms of 39 and 43 months.
You can find all the details about these changes on Peloton’s updated extended warranty support webpage.
Peloton’s five-year limited warranty covers the most expensive and delicate parts for five years. Keep in mind that the labor is not covered for the additional four years and could cost you as much as $200 for the bike. Imagine how much more it would cost to replace the tread or tread pus. This can be quite costly, especially if you need multiple repairs or replacements.
It offers more than just the warranty’s free labor.
- The limited warranty covers parts that are covered for one year. You can replace irreparable parts without additional charges.
- Protection for normal wear and tear on equipment parts, as well as functionality failures due to power surge.
- The company quickly handles all claims regarding repair or replacement via chat or phone.
- Professional attention is paid to your peloton equipment, so it’s safe and sound.
Is Peloton Extended Warranty Worth It?
You have a year to decide if you really need the extended warranty from Peloton. You should make the most of your peloton equipment during this time. If you have more than one adult living at home, you can encourage them to use it.
Peloton equipment is strong and durable. It should not be surprising that it can withstand daily workouts without any wear and tear. The extended warranty is not necessary if you feel you can maintain the equipment for a year without having to rely on it. If you use the equipment for too long, the extended warranty may be worth it.
The tread offers more features than the bike, but the extended warranty is more costly. An extended warranty is only available for the drive motor or the walking belt.
Why would you pay more for a warranty that covers less time, if the warranty is already 5-years. I would say labor and parts that are covered under the limited warranty for one year.
It’s a smart idea to consider extended coverage if you’ve purchased a Peloton Bike or Tread in the last year. And Peloton’s extended warranty is a good option, but it is not the best.
There is an easier, cheaper, longer-lasting, and more flexible alternative.
When I was close to purchasing the extended warranty for my Peloton bike, I decided to look into other options.
The company I came across was Upsie. Upsie offers extended warranties on all types of products, including phones, TVs and computers as well as connected fitness equipment such as Treads and Peloton Bikes.
Upsie offers a much lower price, covers you for a longer time, and can be transferred in the event that you sell or give your Peloton. YouTube
As an example, I will use my Peloton Bike+ to show you that Peloton offers two options:
- Additional coverage for 12 months: $170
- Additional coverage for 27 months: $230
Upsie offers you two options as well
- Coverage for 36 months: $141.75
- $601.00 for 60 months
It is important to remember that Upsie covers you from the day you receive your bike. Therefore, it only provides coverage for 60 months. However, 48 months is considered extended coverage.
Even so, Upsie is almost the same price for twice as long coverage.
Upsie’s warranty is transferable, unlike when you purchase directly from Peloton. You can also charge more if you want to sell your Peloton Tread or Bike.
Order via Upsie here and get 10% off by using the code “9to5”. Use the link below to receive 10% off your entire order if you use Upsie to obtain an Extended Warranty for Your Peloton.
If you want to get the most out of your bike, the extended warranty from Peloton is well worth it. It saves you money and keeps you comfortable while you are using the equipment. Unexpected problems will be addressed immediately.
You can rest assured that you will have better days in the future if your equipment has been serviced for more than four years.