People are always setting new fitness goals to maintain or promote health. If you fall into this camp and are debating whether to finally buy a product that’s being hyped workhorse bike For exercising in the comfort of your home, you may want to know: With Join a local gym?
The best choice for you will depend on several factors beyond cost, including your daily routine and exercise preferences, but the price tag is still an important part of the puzzle. To assist, we’ve broken down the data to make it easier for you to determine whether it’s worth buying a Peloton or sticking with a gym membership. (Spoiler: It probably won’t make a difference after the first year.) Keep in mind that these are rough estimates and prices may vary based on your gym choice and the Peloton package you choose.
Peloton and Gym Memberships
| Home team vs. gym | first year fee | second year fee |
|---|---|---|
| Peloton Bike Basics | $2,098 includes new bike, shoes and All Access membership | All-Access Membership $528 |
| Peloton Bike Plus Basics | $3,148 includes new bike, shoes and All Access membership | All-Access Membership $528 |
| NYSC (all club members) | $1,079.88 includes monthly fee, but does not include annual fee | $1,079.88 includes monthly fee, but does not include annual fee |
| Los Angeles Fitness (Classic Membership) | $553.88 including monthly fee, annual fee and membership fee | $478.88 including monthly and annual fees |
| Planet Fitness (Classic Membership) | $208 includes monthly, activation and annual fees | $169 including monthly and annual fees |
How much does a Peloton bike cost?
With gyms closed during the pandemic, Peloton bikes have become the piece of fitness equipment that everyone wants to own. It’s easy to see why: This indoor bike features a large screen that lets you view thousands of classes, some of which are live, giving you a great workout and group fitness experience. You can also try classes outside of cycling, such as weight lifting and yoga, in your own home.
Whether you choose the original Peloton Bike or the pricier Bike Plus, know that it’s an investment. (We break down The differences between Peloton Bike and Bike Plus are here.) Peloton offers new, refurbished and rental bikes for Bike and Bike Plus. Accessories such as cycling shoes, bike starter kits or ultimate bike kits are available individually for $125 to $495. Peloton also offers three package options for the Peloton Bike and Bike Plus, ranging from just the bike to a bike with a bunch of extras like dumbbells and a water bottle. These packages range in price from $1,445 to $2,990, not including All-Access membership.
No matter which bike you choose, you’ll also need to pay an All-Access membership fee to actually use the class, which costs $44 per month. The good news is that membership allows you to create up to 20 user profiles, so everyone in the family can use the same bike and membership package. If you add in a one-year All-Access membership, the base Peloton Bike package costs $2,098 and the base Peloton Bike Plus package costs $3,148.
Finally, you need to buy riding shoes that work with your Peloton. You can purchase these products directly from the company, starting at $125 a pairor several Non-home team option Compatible with bicycles.
Here, we’ve broken down each Peloton package so you can see what your investment looks like when you purchase Peloton in full and the first year of an All-Access membership. These figures do not include additional taxes and fees, which may vary depending on your location. (Remember, you can often Peloton website or Amazon.)
workhorse bike
| pack | price | member price | annual total |
|---|---|---|---|
| Bicycle basics | $1,445 (includes 12-month warranty, delivery and installation) *Does not include shoes. Price $125 | $44/month full membership x 12 | Without shoes: $1,973. Including shoes: $2,098 |
| bike starter | $1,650 (includes 12-month warranty, delivery and installation, cycling shoes, lightweight, bike mat, Peloton x Camelbak water bottle) | $44/month full membership x 12 | $2,178 |
| ultimate bike | $1,940 (includes 12-month warranty, delivery and installation, cycling shoes, lightweight, bike mat, reversible fitness mat, set of 5 to 30 pound dumbbells, Peloton x Camelbak water bottle) | $44/month full membership x 12 | $2,468 |
Peloton Bike Plus
| pack | price | member price | annual total |
|---|---|---|---|
| Bicycle Plus Basics | $2,495 (includes 12-month warranty, delivery and installation) *Does not include shoes. Price $125 | $44/month full membership x 12 | Without shoes: $3,023. Including shoes: $3,148 |
| bike plus starter | $2,700 (includes 12-month warranty, delivery and installation, cycling shoes, lightweight, bike mat, Peloton x Camelbak water bottle) | $44/month full membership x 12 | $3,228 |
| Bicycle Plus Ultimate Edition | $2,990 (includes 12-month warranty, delivery and installation, cycling shoes, lightweight weights, bike mat, reversible fitness mat, set of 5-30 lb. dumbbells, Peloton x Camelbak water bottle) | $44/month full membership x 12 | $3,518 |
Provide funds for the main force
If you want a Peloton but can’t pay the full cost up front, the company also offers financing options through Affirm to get you a loan. You can pay off your Basic Bike or Bike Plus in monthly installments over 12, 24 or 36 months.
Peloton will run a credit check to determine if you qualify for 0% APR, or APR (in other words, the cost of borrowing the bike, including interest and fees). If you don’t have good enough credit to get 0% APR, you may have to pay a higher interest rate of up to 30%. This also does not include other fees or additional taxes. So, if you are financially secure and qualify for 0% APR, this may be a good option for you. As always, it’s important to carefully read the fine print of alternative payment options before making a commitment.
How much does a gym membership cost?
Gym memberships range in price and may vary depending on where you live and what facilities the gym offers. I live in New York City and have gym memberships of $10, $40, $60, and $80 a month. That doesn’t even include high-end gyms like Equinox, where you’ll pay over $200 a month to get into a location.
In addition to the monthly fee, most gyms charge an entrance fee and an annual fee when you join, and the fees vary widely. A joining fee allows the gym to make extra money when new members join. The annual fee is an additional fee once a year to help with equipment maintenance at the gym. This will probably be about the same as the monthly membership fee. If you join a gym during a promotion, you can waive the joining or annual fee.
Traditionally, gyms have an annual contract that you must abide by. However, I’ve noticed that some deviate from annual contracts and instead allow members to pay monthly or for select months in advance. Gyms also want members to give 30 days’ notice of cancellations. In some cases, the gym may require you to mail them a cancellation letter. If you sign a contract and cancel before it expires, you may be charged additional fees.
Using data from the New York Athletic Club All Club membership (which gives access to all gym locations) and the Planet Fitness Classic membership (which gives access to one gym location) that I’ve paid for, I broke down what an annual gym membership could look like. .
Full disclosure: According to the New York Athletic Club website, its fees have changed since I became a member, so this is an estimate based on prices from about two years ago. Planet Fitness has also changed some of their fees from when I was a member over a year ago.
Peloton and Gym Memberships
| Peloton and Gym | first year fee | second year fee |
|---|---|---|
| Peloton Bike Basics | $2,098 includes new bike, shoes and All Access membership | All-Access Membership $528 |
| Peloton Bike Plus Basics | $3,148 includes new bike, shoes and All Access membership | All-Access Membership $528 |
| NYSC (Passport Membership) | $780 including monthly and annual fees | $780 including monthly and annual fees |
| Los Angeles Fitness (Classic Membership) | $553.88 including monthly, annual and membership fees | $478.88 including monthly and annual fees |
| Planet Fitness (Classic Membership) | $208 includes monthly, activation and annual fees | $169 including monthly and annual fees |
As you can see, depending on how much your gym charges, you could be paying at least $200 per year, if not more. These numbers may change based on how much you pay each month and whether you end up paying an initiation fee or additional fees.
Which is cheaper over time, a gym membership or Peloton?
After comparing the above sets of prices, it’s clear that you’ll pay much more for the first year of buying and using a Peloton bike than you would for a gym membership, because of the high upfront cost of the equipment and the ongoing membership fees. After the first year, however, you only pay for an annual Peloton All-Access membership, which costs $528, in line with the price of annual memberships at many gyms.
If you want to get a little more specific, a Peloton All-Access membership is cheaper for a year than a gym like New York Athletic Club, where All Club membership costs $89.99 per month, plus an annual fee. However, gyms like Planet Fitness only charge $10 a month, which even with the annual and joining fees is still cheaper than an annual Peloton All-Access membership.
Bottom line: Should you join Peloton or go to the gym?
Ultimately, the choice between a Peloton membership and a gym membership is highly personal. Yes, it depends on your budget, but also on your space, schedule, and exercise preferences.
For example, some people are so busy that they cannot access exercise space Having key players at home improves their chances of working out during the week. Peloton is also known for the inspiring communities it creates online, and sometimes that’s all the push you need.
read more: The Best Home Fitness Equipment of 2024
Others, however, need a gym for a suitable space to exercise and want one that has All the equipment they need, not just a bike. The gym also provides opportunities for face-to-face interaction with other members.
If you choose to join a gym, other things to consider are the types of equipment or amenities you would like your gym to have. Some gyms have limited equipment, while others stock multiple pieces of the same equipment. Some gyms provide members with towels, toiletries and other perks, while others are more basic. Additionally, if you are looking for exercise guidance at the gym and want to hire a personal trainer, you will need to pay extra. (But don’t worry: we have Tips on how to bargain for a cheaper gym membership.)
If you’re not sure which one is better for you, the good news is that Peloton gives you a 30-day free trial to try out the bike at home. If you’re not satisfied afterwards, you can return it for free. If you’re considering a gym, it can be helpful to ask if they offer a free one-week trial or a day pass so you can experience it for yourself before making a decision. Testing these options will help narrow down whether a Peloton or gym membership is right for you.
