Unsure whether to dip into your savings or swipe your credit card to cover your next major purchase? Email reporter Megan DeMatteo atto share your upcoming purchase and question to be part of CNBC Select's new "Cash, credit or loan?" series.
A popular choice to stay fit during quarantine, Peloton bikes are more affordable than ever thanks to wallet-friendly packages and payment plans available through the popularBikes run from $1,845 to $2,495, with add-ons like clip-in bike shoes, weights, resistance bands, workout mats available depending on the package. Payment plans start as low as $49 per month for the Peloton Bike plan and increase to $64 per month for the Peloton Bike +.
Given the social distancing limitations of the pandemic, Peloton's financing options might be an affordable way for someone to achieve their fitness goals without leaving home. But is financing a fitness bike better than paying for it with cash?spoke with two certified financial planners to get their take on how to select the right payment method for your wallet.
Since Peloton advertises 0% APR for its financing plans , you can finance your fitness bike without paying interest. There's no financial incentive to pay cash, other than being able to put the expense out of mind for good and move on.When you apply for financing, Affirm will do a soft pull , and your credit score will impact your interest rate.
No
No. Go ride outside.
I bought a small bike -- not even with a flywheel -- for $200 online and put it together myself, and it's worked better with none of the mechanical problems of a 'real' spin bike.
You might also consider financing your Peloton through Affirm (symbol AFRM) which in most cases offers 0% financing with no credit check.
I have two of them and they are good, but I think if u did some research and testing u could get one almost as good for a lot less
Do some push ups and sit ups. Spend the cash on btc onepeloton is one of the most expensive clothes racks on planet earth 🌎
Absolutely not. Peloton is not worth the money.
DO NOT BUY A PELOTON! Delivery will never happen and Affirm will still require you to make payments!!! Our December 12 purchase has just been delayed a 4th time and now is April 12th!! Not to mention their customer service is all outsourced and useless!
nice
Just use $AFRM to buy $PTON