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Buy or Finance?

  • Buy

    Votes: 1 50.0%
  • Finance

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Discussion Starter · #1 ·
Peloton has some great financing terms but I know there's a big debate on if you should buy or finance. Which is it for you?

With no money down and 0% APR financing, buying the Peloton Bike is now easier than ever.*
$0
NO MONEY DOWN

$
123/mo
FOR 24 MONTHS

0
APR FINANCING
PELOTON MEMBERSHIP SEPARATE
 

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Discussion Starter · #3 ·
I hate financing but use it as an easy way to keep active and positive credit usage.
$123 a month isn't even that much to take on anyways given the demographic that will be buying these. Its probably why Peloton didn't go with a longer term for a lesser monthly payment. Great way to get more of us involved.
 

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Discussion Starter · #5 ·
Regardless of an IPO I think any way to get more consumers buying is always a win. I just hope people don't take on financing one of these if its beyond whats reasonable for their credit status. Bonus if you can pay it off earlier!
 

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I agree with other folks that I hate financing anything so I just bought my bike. If I couldn't have afforded it at the time I would have waited. That said, If getting a bike allows someone to reduce costs of gym membership, spin classes, etc. I think it could make a lot of sense to finance. Plus, if it actually makes you healthier it's hard to put a price tag on that. I definitely wouldn't recommend financing though for someone who really can't afford it.
 

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In such cases, I always suggest a person save up and buy the thing. I know that this way you will have to wait for a longer time to use it, but you will also buy it right away, which is safer. Also, if you cannot afford it immediately, you need to consider whether you can afford it. It might be dangerous to live way above your means because it will worsen your financial state in the future. You can create simple budget categories to understand how much money you spend on different things. It can be really helpful for people who don't know how much they spend on different things. Also, this strategy helps to save a lot of money and use them for things you won't like this bike.
 
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