In a Nutshell
If you’re in the market for Peloton fitness equipment, you might be considering using Peloton’s financing partner, Affirm, to spread out the cost over time. With zero money down, zero interest and no hidden fees, Peloton financing might seem like a good option. But you won’t be able to finance Peloton’s membership costs and you may have to come up with a down payment if you’re only partially approved.Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.
If you’ve decided to get a Peloton bike or treadmill (or both!), you might be considering how you’ll cover the cost.
How to finance a Peloton without Affirm
Here are some options that can help you finance this large purchase.
- Pay cash upfront. If you have the cash to cover the cost of the Peloton purchase, you won’t have to worry about making monthly payments. If you don’t have the money saved, you can work on saving toward the expense.
- Use a credit card with a 0% APR. Using a credit card with a 0% APR introductory offer can help you finance the purchase of a Peloton without additional interest charges. But to avoid interest charges, you’ll have to pay off the purchase before the introductory offer expires.
- Find a financing partner. Using a “buy-now, pay-later” app to get the cash you need might also be an option. Check out our roundup of 4 companies like Affirm.
- Use the Peloton app only. You don’t need Peloton-branded equipment to use the app, so you might consider using a bike you already have or finding a less expensive option to buy. At $12.99 a month for digital membership, you can access workouts without having to pay a hefty price tag for a new Peloton treadmill or bike.