Omg, I just bought my bike it’s for five days over a 30 day return policy and now I read you’ve had three different bikes this is very dishearteningI am having the same issue. Peloton already replaced my bike+ three times. This is the 3rd bike. Same problem. It is not the cleat. It still makes the sound when I am out of the saddle and wearing tennis shoes. So frustrating! A technician is supposed to come out, but who knows when that will happen. Mine sounds like it's coming near the resistance knob.