Over the last 24 hours, Peloton has been sending out emails and push notifications to select Peloton digital members letting them know about a limited time offer.
These members are being offered a discounted Peloton – specifically, $400 off a refurbished original Peloton Bike – bringing the price down to $1,495 from the original $1,895 price.
The details included in the email offer state:
Peloton Memorial Day Sale Offer on Peloton Bikes (Refurbished)
Just For You. Just For Summer.
Upgrade your workouts by upgrading to a refurbished original Peloton Bike. For a limited time, we’re offering Peloton Digital Members the chance to buy a refurbished Bike for $1,495* with an option to finance. So turn up the heat on your workouts this summer with an exclusive offer this Memorial Day.
Every refurbished Bike is recalibrated to perform like new so you can unleash your full potential. Offer is only for select areas and only while supplies last. Save now by speaking with a member of our team to confirm your offer eligibility by providing your zip code.
As the email mentions, it is only available for certain zip codes. The good news is, you can verify whether you are eligible by using Peloton’s Chat Bot. You can go see if you are eligible by clicking here: http://pelo.tn/offer. After entering your email, and providing your zipcode, the bot will let you know if you are eligible for the offer. If you are, they will connect you to a sales agent.
We have seen reports of people being able to claim the offer who didn’t get the email or the push notification.
Some important things to note – the refurbished bikes are not eligible for the normal 30 day return period. There does appear to be the standard 1 year warranty on the bike – however, you are not able to purchase an extended warranty for the bike. Also note that if you are a current digital users, once you upgrade to the Bike you’ll also need to upgrade to the $39/month subscription.
The chat bot helpfully provides some terms of the offer:
Subject to availability, delivery and radius restrictions and while supplies last; all sales are final. Extended warranties are not available. Purchase includes delivery and installation, but does not include applicable sales tax, accessories or monthly subscription fee ($39/month). One per customer. Cannot be combined with other offers. Not transferable. Void where prohibited.
This is not the first time Peloton has made a push to members around refurbished bikes. In May 2020 (when there was a large delay on new orders), Peloton emailed purchasers of new bikes in some areas offering them a discount on a refurbished bike – the offer was later expanded to include Chicago as well.
Peloton has stated they have plans to launch an official Certified Pre-Owned program eventually – however, not as many people have been trading in their original Peloton Bikes as they expected when they upgrade to the Bike+
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I assume the reason they’ve had lower than anticipated uptake on the trade-in offer is because people can sell their bikes online for much more than the trade-in value.