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Treadmill Financing: How to Finance Workout Equipment

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Staying in shape isn’t always cheap: Treadmills can cost anywhere from $300 to $3,000 or more, according to data from CostHelper. Luckily, there are plenty of no-interest financing options that you can take advantage of ー if you’re approved. Read on to learn more about treadmill financing.

Buy now, pay later treadmill company financing

One no-hassle treadmill financing option is to go through the seller itself. Many of the biggest national brands, like Bowflex and NordicTrack, offer deferred interest financing through a point-of-sale loan or store credit card.

Treadmill brands with special financing
Financing product Standard purchase APR Special financing details
Horizon Financing Account 29.99% APR No interest if paid in full within 6, 12, 18, 24 or 36 months.
NordicTrack Financing 29.99% APR No interest if paid in full within 18 months.
Or, equal payments split over 12, 36 or 39 months at 0% APR.
Peloton Financing (Affirm) 0.00% – 30.00% APR Equal monthly payments split over 12, 24 or 39 months, as low as 0% APR.
ProForm Financing 29.99% APR No interest if paid in full within 18 months.

Or, equal payments split over 12 or 36 months at 0% APR.

All financing options are dependent upon credit approval.

Most of the offers from the table above are deferred-interest financing offers. This means you’ll be charged the standard purchase APR back to the date of purchase if you miss a payment or don’t pay off your balance within the offer period. Since many of these special financing deals come with a high standard purchase APR, that could cost you a lot of money if you can’t adhere to the terms. You should only utilize financing options if you’re able to make your payments when they’re due.

The exception is Peloton, which offers buy now, pay later financing through Affirm. This can be a good deal if you qualify for the 0.00% APR financing, but with interest rates as high as 30.00% APR, it could end up being an expensive financing option.

Do the  math: Let’s say you bought the Peloton Tread+ at $4,295. If you qualify for 0% APR, you can break up your purchase into equal monthly payments for free. But if you qualify for 15% APR over a 24-month financing period, you’d pay more than $700 in interest over the financing period. At 30% APR over two years, you’d pay nearly $1,500 in interest alone.

Third-party retailer financing

The above retailer treadmill financing options are competitive if you can repay your balance in full during the financing period. However, you do have more deferred-interest financing options: Many stores that sell treadmills, such as Amazon and Best Buy, offer special financing for items above a certain price point.

Stores with special financing that sell treadmills
Financing product Standard purchase APR Financing details
Amazon Prime Rewards Visa Card 28.24% Variable APR No interest if paid in full within 6, 12 or 24 months.
Or, equal payments split over 6, 12 or 24 months at 0% APR.
Amazon Prime Rewards Visa Signature Card 17.24% to 25.24% variable APR Equal payments split over 6, 12 or 18 months at 0% APR.
My Best Buy® Visa® Card 25.24% Variable APR No interest if paid in full within 12 months on storewide purchases $299 and up. No interest if paid in full within 24 months on select exercise equipment $799 and up.

Reduced-interest financing offers may also be available.

Dick's Sporting Goods ScoreRewards Credit Card 26.99% Variable APR No interest if paid in full within 12 months on select in-store purchases $399 and up.
Sears Card® Variable APR: 7.24% - 25.24%. Non-variable APR: 5.00% - 26.49% No interest if paid in full within 12 months on select purchases $299 and up.
All financing options are dependent upon credit approval.

These store financing options have the same drawbacks as the offers from treadmill retailers. Since it’s deferred-interest financing, you could be charged standard purchase APR back to the date of purchase if you don’t adhere to the terms. But if you can take advantage of these offers and stick to the payment plan, you can potentially buy a treadmill without paying interest at all.

Other ways to finance your treadmill purchase

Shop around for a sale to pay in cash

Don’t buy a treadmill that’s out of your budget just because you can finance it. Few people have room in their budget for a pricey Peloton treadmill, and that’s OK. It’s not for everyone, but there are plenty of more economical alternatives.

Some treadmills are significantly cheaper — even as low as $300 — so do your research when buying one. You can go to some sporting goods stores, like Dick’s Sporting Goods, and compare treadmills in person. You might even buy used from Facebook Marketplace or Craigslist.

When you find a treadmill you like that’s in your budget, plan to set some savings aside each month until you have the funds to buy it outright. Let’s say you want to buy a treadmill for $750. You could put aside $250 per month for three months, or $150 per month for five months.

Budgeting for a big purchase means that you don’t risk getting into debt you can’t repay.

Utilize a promotional 0% APR credit card offer

In a bid to woo potential customers, some credit card issuers will offer 0% APR promotional periods when you first open an account. These promotional periods can last up to 18 months or longer, which can give you plenty of time to pay off a reasonably priced treadmill without paying interest.

After the promotional period ends, you’ll be charged standard purchase APR on the remaining balance. It’s important to budget your money and plan ahead to be sure you can pay off the treadmill during the introductory 0% APR period.

Keep in mind that not all borrowers will qualify for a credit card with a 0% APR introductory offer — these specials are typically reserved for people with good credit. You can check and monitor your credit score for free on the LendingTree app:

Take out a personal loan

Personal loans are lump-sum loans that you repay over a set period of time, typically a few years, in fixed monthly installments. A traditional personal loan is unsecured, meaning that you don’t put up collateral (like your car or home). Because of this, lenders rely heavily on your credit, and interest rates tend to be higher than with other types of loans.

Personal loan quick facts
Interest rate About 6% to 36% APR, typically. Borrowers with a high credit score and a low debt-to-income ratio will qualify for the lowest possible APRs.
Borrowing limit $1,000 to $50,000 or more, depending on creditworthiness.
Fees Origination fees, which are 1% to 8% of the loan, and prepayment penalties. Not all lenders charge loan origination fees.
Credit check Most lenders allow you to check potential terms with a soft credit check. A hard credit check is required when you formally apply.

With so many ways to finance a treadmill interest-free options at your disposal, a personal loan won’t likely be a good first choice. The primary reason is that you’ll end up paying interest, while many store financing plans don’t charge interest if you can handle the short repayment timeline. Use the personal loan calculator to estimate your monthly payment:

Specials financing offers are current as of date of publishing.


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