Truthfully, whether to get it or not totally depends on your priorities. After your first 12 months with your new Peloton bike are up, you´ll have the option to get a peloton extended warranty. It could be a great decision in case your bike has a breakdown due to normal wear. However, depending on how often you´ll be using the bike and what you´re doing with it, it could also be a waste of money. It costs $145 for 12 months and $185 for 27 months of additional coverage.
When buying a new expensive product, such as a peloton bike, there's always an existing risk that it could break or malfunction after some time. When it's brand new, the odds of it malfunctioning are pretty slim. However, as time passes, the bike´s parts will slowly start to wear out with use. As a bike owner, knowing that no matter what, your bike will be protected can give you peace of mind, especially when it comes to a $1500+ bike.
In this article we´ll review whether getting an extended warranty is the right choice for you. Keep reading to find out.
The peloton extended warranty worth $145 costs about 10% of the total cost of the bike. If you get the 27 month extended warranty, is it really expensive to protect your bike´s integrity for about 13% of the total cost of the bike for the next 2 1/4 years? Really think about that.
At least for me, the answer would be a resounding yes. Even if my bike doesn't break down, the peace of mind is well worth the investment. The truth is that only you know how much you´ll be using your bike. So, you can make a decision based on that.
Maybe getting a peloton extended warranty for your peloton bikes could be a great idea, as you´ll keep your bike protected for longer. Moreover, if you have a treadmill whose parts could be considerably more fragile, getting the extended warranty is also a good investment to protect it.
A limited warranty/Peloton protection plan is already included when you buy your bike or treadmill. It lasts exactly 12 months after the date of purchase, only covering those first few months when the bike is less likely to break down. Let's take a look at what each warranty offers.
This type of warranty is only for bikes. It only applies to the following bike components:
This warranty only covers the original owner of the bike. If you received this bike as a gift or bought it second-hand, the limited warranty won´t apply to you. This warranty is unfortunately not transferable, so you´ll have to get your own.
This is the warranty for the treadmill. It basically has the same coverage as with the bikes; the main difference is that the treadmill has longer coverage for most of its parts.
Much like with their bicycle, these protection plans are not transferable and are only valid for the original buyer.
As previously seen, the limited protection plans are quite good and are already included in the price. Take that time to truly test your peloton product´s limits. This might give you an idea of whether getting an extended warranty is truly worth buying.
This extended warranty is offered to customers as an option to prolong their coverage. The extended warranty coverage includes everything the limited version did, plus a few other benefits. Here's a list of them:
It is also important to be clear that the peloton extended warranty doesn´t take care of cosmetic deterioration such as scratches, dents, bumps, etc.
This plan mirrors the bike service plan coverage. However, it is important to recognize that bikes and treadmills work very differently. Therefore, it could prove to be worth the investment, as the machinery is more delicate and more technology is involved.
For the peloton bike, the price for a peloton extended warranty is $145 for 12 months. 27 months of extended coverage would set you back $185 . Let's keep in mind that the total cost of the bike is at around $1500 as a reference point.
The warranty prices vary for a bike around peloton products. Here's the price of each warranty:
To add some context, if your bike were to break down and you didn't have the warranty, a single repair could cost around $200.
Extended warranties will come in handy if you use your peloton a lot and share it with other people. In this case, even though the peloton´s products are quality, they aren´t invulnerable to wearing out. Instead of shelling out hundreds of dollars in repairs, the warranty will do wonders for you.
Any warranty that goes unused can sometimes feel like a waste of money. However, it is far better to be safe than sorry. It's exactly like having insurance.
More often than not, there will be a small issue with your bike, such as a clicking sound. Having the warranty will give you the ability to solve these issues without spending a dime. Well, maybe just on tips.
If you´re not willing to get the extended warranties, that´s okay. Just keep in mind that something could happen to your peloton, which is not an indestructible machine. The repairs could be more expensive.
Is it worth it to get an extended warranty? In all honesty, you´re the only one who knows the answer to that question. Only you know the situation you´re in, your personal preferences and the amount of work you're going to put into the machine.
Weigh your personal pros and cons to make the most informed decision. If you´re just considering getting a new peloton, it's important that you pay attention to these details so that if you choose, having an extended warranty proves to be a worthy investment.