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Cash in on your fitness: How to sell your used Peloton bike for top dollar

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Are you not riding your bike? You can always pause your All Access Membership. Or, you can keep it and use our app on your Apple iOS/Android device. Here are some tips if you want to sell your bike.

Last year, I was trying find someone to buy a used Peloton bicycle. I had just purchased a vacation home, our future retirement home, and I knew that I wanted to own a Peloton bike there.

Because we would be spending vacations and holidays at the house, I needed a bike to ride. This article on buying a used Peloton bike over buying one new has all the details.

Let’s go ahead a year. We’ll soon be moving into our future retirement home in the next 12-18 months.

Note: This blog is and notretiring. To be closer to our family, we’ll be moving from Western Pennsylvania to New England.

Why I am considering selling my Peloton

You may already know that I have a Peloton bicycle here in Pennsylvania. Also, I don’t have one in New England. It makes sense to me to begin looking into how to sell a used Peloton bicycle.

According to what I have read, the demand for used Peloton bikes is high. They retain a lot of their value.

It never hurts to be prepared. Here are some things I learned from selling a Peloton bicycle.

How to sell a Peloton bike

This article will cover the following topics:

  • How to make your Peloton ready for sale
  • How to price your Peloton
  • Sell your used Peloton
  • There are other options available for you to sell your used Peloton

Let’s now get to work on getting your bike ready for sale

How to make your Peloton bike sellable

If you are looking to sell your Peloton bike, but keep your Peloton accounts active, there are some things you need to do. What do I mean maintain your account? If you are doing a Tread, or just riding by yourself with the Peloton app.

You should first download your workouts directly from the bike. This can be done on the Peloton site. These are the steps.

Steps to download your Peloton training history

One, go to the Peloton site.

Log in under “My Member” and then click on “Profile”.

Three, click on the “View Workouts” button. In the upper right corner of the screen you’ll find an oblong icon that reads “Download Workouts.”

Download your workouts. You can download all of the information into a CSV file, which you can then open in Excel.

Another reason to save your workouts? You can use this information to calculate how many miles you have ridden on your bike. This information is important to some buyers.

Before you sell, remove and replace accessories and add-ons

If they are not part of the sale, you should take any additional items off the bike. You might need to remove any non-Peloton pedals that you purchased in order to be able to ride with SPD cleats or shoe cages. Then, you can put the original Peloton pedals on.

You can also take off a Peloton Buy and Sell group. This is unless you are selling them as part of the sale.

Before you sell the bike, clean it.

Also, make sure to clean the bike before you sell it. A dirty bike is not something anyone wants to purchase.

After you have read my article How to Clean Your Peloton and followed my instructions, you can simply give your bike a quick wipe down.

Before you sell your bike, remove any personal information.

Make sure to delete all profiles from your bike. It is not a good idea to leave your personal information on the tablet when you sell the bike.

How to factory reseat your Peloton bike

Final, do a factory reset on your Peloton bike. These are the steps.

Factory reset your Touchscreen

  1. Your Peloton bike should be turned off. This would be done by pressing the power button, then selecting “Shutdown”, on the touchscreen.
  2. After the bike has been turned off completely, hold simultaneously the power button as well as the Volume Up button on the side.
  3. Once the Peloton logo appears let go of all buttons
  4. Navigate using the volume buttons while the bike is in “recovery” mode.
  5. Navigate to “Wipe [all user] Data/Factory Reset.”
  6. To select this option, press the power button.
  7. Click “Yes, delete all my user data” to confirm.
  8. After data has been deleted, click “reboot system now”

FYI, These instructions were taken from the Peloton website. In case your customer has any questions regarding activating the bike following the factory reset, you might want to direct them to this page.

How to price a Peloton bike that is no longer in use

Peloton bikes are often still in good condition. The bike should be at least two years old and have had fewer rides. This will allow you to get more value for your bike. When pricing your used Peloton, here are two things you should keep in mind.

What generation is your bike’s tracker?

One, which generation of monitors do you have? A Gen 1 monitor is available on some older bikes. These monitors are out of date and may have some issues.

Peloton can upgrade your Gen 1 monitor to a more modern model for $350. This might be something you should consider before selling. You can get more for your bike if you have a newer monitor.

It’s possible to buy newer Peloton monitors on eBay for a lower price.

It doesn’t really matter what color the Peloton power button is

How can you tell if your Gen 1 monitor is working? It could be based on the color and shape of the power button (which is usually orange). The newest bikes feature a gray power button at the back of their monitors.

This is not true. Our bike was purchased in 2016 and has an orange power button. But, I do know that we have a Gen 2 Monitor. How do I verify this? There is a code on the back of your monitor.

This code will tell you which generation your Peloton is on

These codes are what you should be looking for on your Peloton monitor.

Generation 1 Peloton monitor = model number contains 72010

Generation 2 Peloton monitor = model number contains RB1V1

The Generation 3 Peloton monitor has RB1VQ. However, you will most likely find them on the Bike Plus.

You don’t have to compete with new bikes for price

Keep in mind the cost of a Peloton bike. A new Peloton bike, not the Bike Plus, is currently $1,495. Delivery and setup will cost $250. A warranty is included with every new bike.

The warranty doesn’t transfer even if the bike is a new Peloton. When pricing your bike for sale, keep this in mind.

Extended warranty for the new Peloton Protection Plan

However, Peloton changed its warranty policy in April 2022. An extended warranty, which is longer than the 12-month warranty that came with a new bike, will transfer to a new owner.

This extended warranty, now known as the Peloton Protection Plan (or Peloton Protection Plan), provides 48-month coverage for your bike or tread. This gives you coverage for four years. Only U.S. residents can apply for it. The Peloton Protection Plan is $199.

Peloton has some thoughts about the transferability and use of these new warranties options.

Protective plans purchased after April 5, 2022, are transferable. In the event that you need future service under the plan em, you must request confirmation from the original owner if you purchase a Peloton product.

If you are selling your used Bike , and you have opted in to the Peloton Protection Plan, this will make it more attractive for potential buyers. You might also be able to get more for your bike.

Selling at a good price

However, I found that the most common price for a used Peloton bicycle is $1,000. Selling a Peloton bike is similar to selling a house. It is not about what you think the bike or house is worth, but what the market will bear.

Peloton could charge more for bikes that were not delivered on time. People didn’t want the wait for Peloton’s delivery of their bikes.

If you were to sell a Peloton Tread, I would expect to get a lot for it. Many people are complaining on the Official Peloton facebook page (OPPabout XPO’s cancellation of Tread deliveries. A used Tread would be snapped up very quickly, according to me.

We were pleasantly surprised when XPO delivered the Bike Plus to us.

Is it possible to transfer prepaid membership credit to a new owner?

Yes, you can transfer your prepaid membership credits to another owner. Please email[email protected]with both parties’ rider names or email addresses.

Peloton bikes for sale

Where can you sell a used Peloton bicycle? You can sell your used Peloton bike online.

There are several options that you have. These options include:

Here are some things you should know about how to move a Peloton bicycle

Let’s suppose you sell the Peloton bicycle. Well, congrats.

It is normal for your buyer to want to test the bike out before you give them the money. Don’t put the bike in motion yet.

I recommend that you read this article on the Peloton site when moving the bike. This article provides tips on how to safely transport a Peloton bicycle.

There are other options to selling your used Peloton bike

You can trade in your bike if you’re looking to replace an old Peloton bike with a newer model. After Peloton introduced the Bike+, they began letting bike owners trade in their bikes for credit towards a new Bike+.

Peloton took credit for the bike and picked it up when they delivered a brand new one. Many others, however, decided to sell their old Pelotons and purchase a new Bike Plus. They were able to receive more than the $700 credit that Peloton offered as a credit.

If this is you, you might want to first try to sell your used Peloton and see what you get. You can always trade it for a credit if that fails.

Final thoughts about how to sell a Peloton bike

I hope I have answered all your questions. Please let me know if I have missed something that you might be facing when selling your Peloton.

You can also leave a comment if you have a story to share about selling a used Peloton. We can all benefit from each other’s collective experiences, I am sure.

If you have any suggestions for topics related to Peloton that I should be covering on this blog, I’d love your input.