When it comes to exercise equipment, Peloton is one of the most popular brands on the market. But with its high price tag, some people may be wondering if the Peloton extended warranty is worth it.
In this article, we’ll explore both the pros and cons of getting an extended warranty for your Peloton bike or treadmill. That way, you can make an informed decision about whether or not it’s right for you.
So without further ado, let’s get started!
Is Peloton Extended Warranty Worth It
Let’s take a look at the pros and cons of extending your warranty on a Peloton bike or treadmill.
The Pros of An Extended Warranty For Your Peloton
When it comes to extended warranties, there are usually two main types: service contracts and protection plans.
Service contracts cover the cost of repairs or replacements, while protection plans typically just cover the replacement of your product if it’s lost, stolen, or damaged.
Here are the main pros of getting an extended warranty for your Peloton:
1. You’ll Be Covered in Case of Accidents or Malfunctions
If you have an accident and damage your Peloton, or if your bike or treadmill experiences a mechanical malfunction, an extended warranty will cover the cost of repairs or replacement.
This can end up being significant savings, especially if you have to replace your Peloton entirely.
2. You Won’t Have To Worry About Unexpected Costs
If something goes wrong with your Peloton and you don’t have an extended warranty, you’ll be responsible for the entire cost of repairs or replacement. This can be a major financial burden, especially if you can’t afford to pay for it all at once.
3. You Can Get Peace of Mind
An extended warranty can give you peace of mind knowing that you’re covered in case something goes wrong with your Peloton. This can be a valuable feeling, especially if you’re worried about unexpected costs.
The Cons of An Extended Warranty For Your Peloton
Now that we’ve looked at the pros of extended warranties, let’s take a look at the cons:
1. They’re Usually Not Worth The Money
Although extended warranties can be beneficial in some situations, they’re usually not worth the money. In most cases, you’re better off just saving up and taking care of repairs or replacements yourself.
2. The Coverage is Often Limited
Even if you do get an extended warranty, the coverage is often limited. For example, some warranties only cover accidents, while others may not cover mechanical malfunctions.
3. You May Not Need One
If you’re careful with your Peloton and don’t use it excessively, you may not need an extended warranty at all. In this case, it’s simply a waste of money.
Can You Add Peloton Extended Warranty After Purchase?
You must be thinking about whether you can add an extended warranty to your Peloton after you purchase it or not. The answer is no. You cannot add an extended warranty to your Peloton bike or treadmill after the purchase.
This is because the manufacturer’s warranty is only valid for a certain period of time after the product is purchased. Once this period expires, you can no longer add an extended warranty.
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So if you’re considering getting an extended warranty for your Peloton, make sure to do it at the time of purchase.
How Much Does The Peloton Extended Warranty Cost?
|Protection Length||Hardware Type||Pay-In-Full Price||Financed Pricing with Affirm*
(Contingent on the purchase of a Peloton Bike, Bike+, Tread, or Guide)
|48 months||Bike||$199||$5.11/mo for 39 mo with 0% APR.*|
|Bike+||$249||$5.79/mo for 43 mo with 0% APR.*|
|Tread||$249||$5.79/mo for 43 mo with 0% APR.*|
|24 months||Guide||$24||$1/mo for 24 mo with 0% APR.*|
The cost of the Peloton extended warranty varies depending on the retailer you purchase it from. However, the average cost is between $99 and $149 for two years of coverage.
Some retailers also offer monthly payment plans for the extended warranty, which can make it more affordable.
What Does The Peloton Extended Warranty Cover?
The Peloton extended warranty covers repairs or replacement due to accidents, mechanical malfunctions, or electrical issues. It does not cover lost or stolen Pelotons.
The warranty also has a deductible of $49, which means you’ll have to pay this amount out-of-pocket before the warranty coverage kicks in.
How Do I File a Claim With The Peloton Extended Warranty?
If you need to file a claim with the Peloton extended warranty, you can do so by visiting the retailer’s website or calling their customer service number.
You’ll need to provide your Peloton serial number and purchase date, as well as the date of the accident or malfunction.
Once the claim is filed, a Peloton representative will contact you to schedule a time for repairs or replacement.
What Happens if My Peloton Breaks?
If your Peloton breaks and you don’t have an extended warranty, you’ll be responsible for the entire cost of repairs or replacement. This can be a major financial burden, especially if you can’t afford to pay for it all at once.
If you have an extended warranty, the coverage will depend on the terms and conditions. In most cases, you’ll have to pay a deductible before the warranty coverage kicks in.
Peloton offers a 30-day money-back guarantee, so if you’re not satisfied with your purchase, you can return it within this time period.
Does Changing Pedals on Peloton Void Warranty?
No, changing the pedals on Peloton does not void the warranty. The only time you would void the warranty is if you were to make modifications to the bike that would affect its performance or safety.
However, if you open the inner parts of your Peloton bike and change the components with something aftermarket then you might run into some issues with the warranty.
It is always best to check with the retailer or manufacturer to see if there are any specific warranty guidelines that you need to follow.
So, Is The Peloton Extended Warranty Worth It?
Now that we’ve looked at the pros and cons of extended warranties, you can decide for yourself if the Peloton extended warranty is worth it. In most cases, we recommend against getting one, but ultimately the decision is up to you.
If you do decide to get an extended warranty, make sure to do so at the time of purchase. And be sure to read the terms and conditions carefully so you know what’s covered and what isn’t.
When it comes to your Peloton, an extended warranty may not be worth the money. Unless you’re especially careless or have a history of accidents, you’re better off saving your money and taking your chances.
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