Peloton Launches Refurbished Bikes Program With Savings Of $300-$500

Peloton Interactive Inc PTON has launched a new refurbished bikes program, Peloton Certified Refurbished.
Refurbished Peloton Bike will be sold for $1,145, a $300 saving compared to a new Peloton Bike, and the Refurbished Peloton Bike+ will cost $1,995, a $500 saving compared to a new Peloton Bike+.
The new offering will be available across the continental U.S. and in Canada.
Every refurbished product will be inspected, cleaned and tested to meet Peloton standards, and is backed by the same 12-month limited warranty.
The Refurbished bikes will contain the same features as the new Peloton Bike/Bike+.
"We are excited to offer refurbished Peloton bikes at these new price points, opening the engaging Peloton experience to even more Members," said Amanda Shulman, Vice President of Emerging Business & Strategic Partnerships.
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Price Action: PTON shares are trading lower by 0.11% at $8.88 in premarket on the last check Tuesday.