UPDATE – We are getting multiple reports Peloton has changed the deadline for the grace period and it ended August 15th @ 12:00pm. Over the weekend, Peloton was saying it was good until August 19th. It appears Peloton management changed their minds Monday morning, and quickly updated the grace period to end around 12:00pm ET on Monday. It is not clear if Peloton will still honor it for those who have yet to buy their device but who contacted Peloton over the weekend (anyone who bought & got confirmation via chat/phone should be fine).
Peloton made a surprise announcement yesterday: a price increase for the Bike+ and Tread across all sales markets around the globe. In the US, this saw the Bike+ increase $500 from $1,995 to $2,495. The Tread+ was increased $800 – from $2,695 to $3,495.
The lack of proactive communication about this price increase has left some members feeling upset, especially those who were planning to purchase a Peloton Tread or Bike+ soon, but are now faced with a price increase that they got no warning was coming. Note – if you were wondering how Peloton has changed their pricing over the past few years, we have a table showing Peloton price changes over time here.
However, we are getting some reports that Peloton might be implementing a grace period for current Peloton members, honoring the old prices of the Bike+ and Tread and allowing them to buy their equipment at the previous price until August 15th.
From the reports we have gotten, the caveat to this grace period is that it is only being honored for members that have, “added the Bike+ or Tread to their cart, but did not complete the transaction until after the price change had taken effect”. Any member that is in this situation will need to reach out to Peloton customer support (whether by phone or by chat) and demonstrate to them that they had the intent to purchase the Bike+ or Tread prior to the price increase on August 12th.
This also means any current member that was planning to visit a show room this upcoming week, or to call a showroom and place an order, would likely still fall into this 7 day grace period. If you fall into this category, do reach out to customer support and let your intentions be known. The previous price is being honored on a case by case basis, so we cannot guarantee they will extend this offer to all members – but we have gotten numerous reports of members getting the old price. This is a YMMV (your milage may vary) situation.
While we have gotten some reports that customer support was able to honor the original price from purchase, it has also been reported to us that some customers may be asked to purchase their equipment at the new, higher price, and will then be issued a refund of either $800 or $500 (depending on whether it is the Bike+ or Tread that was purchased). The prices above are USD – but the refund would be whatever the price increase was in your market.
If you are not a current member, or are but are still not ready to purchase your equipment, keep in mind that historically Peloton has their biggest sales on Black Friday in November. Peloton usually begins teasing the Black Friday discounts in mid November, and in the past there have been deals such as 40% off apparel, $350 off the Bike+, and free accessories packages. You can read more about past Peloton Black Friday deals here.
And of course, when you are ready to make a purchase, if this is your first time buying a Bike+ or Tread you are likely eligible for the 30 day free home trial program. Not all areas are covered in this home trial program, but you can reach out to support to confirm if you are eligible. Currently Peloton is in the process of moving all their delivers to third party companies, but there has been no mention of discontinuing the 30 day free home trial program, so members should be able to count on that service continuing.
Contact info for Peloton support is at the bottom of the page here.
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So glad you posted this. I was shocked and distraught to say the least since I was ready to purchase my tread but decided to wait a couple weeks for any Labor Day specials they might have. An $800 increase was not the special I was expecting. Nice to see Peloton taking care of members. New tread delivers in 2 weeks and they are giving me an $800 credit.
I called and they did honor the $800 off the tread… The problem is if you are using Affirm, it takes the money off the back end of the loan, so your payments will be higher still. Disappointing, yes, but I am still saving the money! Give them a call, I had a great experience speaking with the rep. I also did ask to speak to a manager, so I didn’t take “no” the first time. They went back and did honor it. First time ever calling them, and I had a great experience!
I was literally completing a purchase on Friday when the price increase happened. I have been going around and around with Peloton. They told me to complete the purchase and they’d refund the $500. I completed the purchase. Then the next rep said the first rep shouldn’t have promised the refund but since he did, they’d honor it. A third rep emailed me and said they’d have to charge my card in full in order to process the refund and I said fine…then I chatted with customer support this morning and they said they’d no longer honor the refund promise. Had to call and talk to a supervisor who said they WOULD honor it, but that things have been changing “by the minute” on their end….and it will take 7-10 business days to get the refund. I am not at all confident that this refund will actually happen, but hope they do the right thing. Sigh.
Peloton is no longer allowing current members to purchase at the old price. I tried this morning, and I was told the price was the price and they would not adjust it.
Yeah, called twice today and they wouldn’t honor the old price.
Surprised to see Peloton’s behavior. As a premium brand, they should know better.
We have had the Peloton+ bike for about a year. We were waiting for my wife to get her bonus before buying the Peloton Tread. The price increase news came out and we saw the Pelobuddy blog post. So we were planning to buy the Tread today even though the bonus comes next month. My wife called the local store at South Park in Charlotte, NC at 1:50pm. The sales rep said the existing member price ended at 12:00 noon today.
I’m curious, what do you guys think of that kind of behavior from a premium brand like Peloton?
I tried to buy it today (I’d been back and forth for a couple months) and a friend confirmed this morning we could do it through the end of today. I purchased it by 4p ET but they still won’t honor it. I bought it during my lunch since I couldn’t do it this morning and it was too late.
Yeah, I just tried in customer service chat and they said no. So disappointed, I was also waiting for black Friday sales as well and $800 is such a huge price jump out of no where. The tread doesn’t seem to have much going for it to cost 2-3x more than a decent treadmill from another brand. Maybe when they release a new Tread+ they’ll fiddle with the prices again. Sigh.
I was told the morning of the 15th to order by the 19th and they would refund the difference. Today they told me they refuse to make good on that promise. I filed a complaint of bait and switch with the Maryland Attorney General
I purchased the tread monday morning after talking to a peloton rep via the chat feature. i again asked when making the purchase monday morning and was told the sales team would make the adjustment. the sales person was a little lost on how to actually do the rebate since it will take 3-6 weeks before it delivers, therefore, it’s only pending in credit card. received an email today from peloton support stating “The price change for the Peloton Tread went into effect on Friday, August 12, 2022. Unfortunately, we are not able to offer the old Tread pricing.” After reading other comments, i’m still going to try and see if they will honor some sort of member discount. the only reason i went forward with the purchase was for the rebate.
I chatted with Peloton on 8/14 and the agent told me i had until 8/19 to purchase a tread under the older pricing. I asked him if there was anything i need to do like having my account notated or anything else. He confirmed as long as i purchase by 8/19 i can get the older pricing. I contacted peloton again on 8/17 to complete my purchase and they would not honor the old pricing even though i had it in writing from a peloton rep saying i had until 8/19. The sales team members i spoke with were extremely rude and all they would say is “Our policy and messaging has changed” Such a bad experience. I will be getting rid of my bike and supporting a different brand. Will no longer give Peloton my cash!
Same situation with jordan. Purchase the tread august 15 -1100 Pst. Chat members said to make the purchase and they’ll honor the price. Called with the order number and they said they have to run it through leadership. Received an e-mail stating they can’t do the adjustment & if I don’t want it they can cancel my order and send me a refund. They clearly would rather loose $3200 of sale instead of honoring their statement. None of them were in the same page, the company clearly needs some remediation and focus on their mission statement and values to put members first.
I’m beginning to wonder if they directed customer service to lie and make as many sales as possible. I was on the phone with customer service and she helped me make the purchase. She sent me a reference number via email and said to reply to the message with a copy of my receipt and I world get the difference refunded. NOTHING happened. I emailed back multiple times, and no response. I called again and asked to talk to a supervisor. He told me that if the recording said I world get the refund, then he world honor it. Either way he world call me back. 10 minutes later I received an email stating that he couldn’t honor it. No phone call, nothing. I asked for a call back via email, and again NOTHING. My husband thinks we should cancel the order. I can’t believe the run around and lousy customer service!
Sorry to be a Debbie Downer… But I missed the part where they are obligated to announce price changes. Was that in some contact I’m not aware of? I actually bought mine used so I guess it is possible! But they have the right to change their prices whenever they like and don’t need to ask permission from the public first. Sorry…(no I’m not)
not worth it anymore, too expensive for non tread plus version. worthless CEO I guess