If you've been considering buying a Peloton bike, but aren't super pumped about spending nearly two grand, here's some good news — for the second time, Peloton is dropping the price of its original bike, and it's a pretty big chunk.
In a blog post this week, the company announced that the price of the bike will go from $1,895 to $1,495 — that's a $400 drop. (Peloton's all-access membership is a separate fee at $39 a month.) Earlier in the pandemic, the price of the bike dropped from $2,245 down to $1,895 when Peloton introduced Bike+, a higher-end bike.
If you recently purchased a bike, you're likely pretty irritated that you paid the extra money, but you might be able to get a refund for the difference. A Peloton spokesperson told Gizmodo that the company plans to offer proactive refunds for anyone who bought the bike in the past 30 days or is currently waiting for their bike to be delivered.
It probably isn't a coincidence that the bike's price drop coincides with the release of the redesigned Peloton Tread, which is scheduled to launch Aug. 30 in the U.S., Canada, and the UK.