The first thing to clarify — because a lot of people conflate them — is that a Peloton purchase involves two separate financial products that have nothing to do with each other contractually. The Affirm installment loan you took out to buy the equipment is a real debt obligation. The All-Access membership subscription is a month-to-month service you can cancel anytime. Canceling the subscription does not touch the loan. Paying off the loan does not cancel the subscription. You need to handle them separately, and in a specific order.
Step 1 — Cancel the membership subscription right now
If you are not using the bike, the first thing to do — today, before anything else — is cancel the Peloton All-Access membership. At roughly $44 per month, it is an ongoing charge that adds nothing if you are not riding. Log into onepeloton.com, go to Membership, and cancel. You can also call Member Support at 1-866-679-9129. This is a straightforward cancellation with no penalty and no impact on your Affirm loan. The bike will still work for manual workouts after cancellation; you just lose the streaming classes.
This page is not primarily about canceling that subscription — if that is all you need, you are done. The rest of this page is about the financing loan, which is the harder problem.
Step 2 — Understand the honest resale math before you list it
Selling the equipment is almost always the cheapest exit from the loan, but the resale market is not what pandemic-era buyers expect. Here is the honest picture as of mid-2026:
- Original Peloton Bike — used resale on Facebook Marketplace: roughly $300–$600 in most US markets. Many are listed at $700–$900; most sell in the $350–$550 range.
- Peloton Bike+ — used resale: roughly $500–$900.
- Peloton Tread — used resale: roughly $600–$1,100, depending on condition.
- NordicTrack S22i / Vault — similar pattern; $400–$900 depending on model and condition.
- Tonal — higher list prices held somewhat better, but used units still sell at a steep discount from the original $3,000–$4,000 purchase price.
These numbers are not meant to discourage you — selling is still the right first move. They are here so you do not spend three weeks listing at $1,200 and wondering why no one bites. Check completed listings (sold items) on Facebook Marketplace in your ZIP code for the most current local prices. What things sell for is more useful than what they are listed at.
Where to sell
Facebook Marketplace is the dominant channel for large exercise equipment — you reach local buyers, avoid shipping, and the buyer takes it away. Craigslist still works in some markets. Peloton's own certified pre-owned trade-in program (onepeloton.com) will buy back equipment, but the buyback offer is typically lower than a private sale; it makes sense if you want to skip the logistics rather than maximize cash.
Avoid national shipping if at all possible. A Peloton Bike weighs roughly 135 lbs; freight shipping can cost $200–$400 and eats the margin on a lower-priced sale. Local cash pickup is almost always the better economics.
Step 3 — Apply sale proceeds directly to the Affirm loan
Once you have sale proceeds in hand, apply them immediately to your Affirm balance. Log into your Affirm account at affirm.com and make a payment. There is typically no prepayment penalty on Affirm installment loans. If the sale fully covers the remaining balance, the loan closes and you are done.
If the sale does not fully cover the balance — which is common, given current resale values — you now have a smaller unsecured loan balance remaining. A few paths forward depending on the size of that gap:
If the remaining gap is under $1,000
Consider paying it off in a lump sum from savings, or accelerating payments over the next two to three months. The interest cost of dragging out a small balance typically exceeds the convenience of slow payments. Call Affirm (1-855-423-3729) to ask about a reduced payoff — occasionally lenders will accept a slightly reduced amount to close a delinquent or struggling account, but this is not common on current, performing loans. Do not count on it.
If the remaining balance is larger or you have other unsecured debts
If the leftover Affirm balance — combined with other unsecured debts like credit cards or personal loans — totals $7,500 or more, a nonprofit credit counseling agency or a debt settlement program may be worth evaluating. Keep these trade-offs clearly in mind:
- Debt management plan (DMP) through a nonprofit: The National Foundation for Credit Counseling (NFCC.org) can connect you with a certified counselor who may be able to lower interest rates on unsecured accounts through a structured repayment plan. This is not debt settlement — you pay the full balance over time, but at a reduced rate. Your credit impact is generally less severe than settlement.
- Debt settlement: A settlement program negotiates to resolve unsecured accounts for less than the full balance. Important caveats: your accounts typically need to become delinquent before creditors will consider settlement, which damages your credit score. Any forgiven balance above $600 may be reported on a Form 1099-C as taxable income. Settlement is not guaranteed — creditors can decline, and the outcome depends on the lender's policies and your account status. Settlement works for unsecured debt only (credit cards, personal loans, personal BNPL loans like Affirm consumer installment loans) — it does not apply to secured debt or federal student loans.
The two products — a clear reference
| Product | What it is | How to exit |
|---|---|---|
| Affirm equipment loan | Unsecured installment loan from Affirm; fixed monthly payments; the equipment is collateral in practice but Affirm typically does not hold a formal lien | Sell equipment, apply proceeds, pay off remainder; or settle through a debt program if delinquent and part of a larger debt pile |
| All-Access membership | Month-to-month subscription (~$44/mo); entirely separate from the loan | Cancel anytime at onepeloton.com or by calling 1-866-679-9129 — no penalty, no impact on loan |
If you are already behind on the Affirm loan
If you have missed payments and the account is delinquent, do not ignore it. Affirm will report delinquencies to the credit bureaus and can send the account to a collection agency. Call Affirm directly (1-855-423-3729) to ask about hardship options or a payment plan. If the account has already gone to collections, review your rights under the Fair Debt Collection Practices Act — our page on stopping debt collector calls covers the basics.
If the delinquent Affirm balance plus other unsecured debts is significant, a free consultation with a debt relief provider can help you understand whether a settlement or management plan makes sense. Do not confuse this with the membership cancellation — the subscription is easy to cancel; the loan requires a deliberate payoff or resolution plan.
NordicTrack, Tonal, and other home-gym equipment
The same framework applies to other pandemic-era home-gym purchases. NordicTrack uses its own financing (iFIT credit account, sometimes third-party lenders). Tonal offered financing through Affirm and other partners. Mirror (now part of Lululemon) sold hardware with financing options. In each case, the equipment loan is a separate obligation from the class or subscription service — cancel the subscription immediately to stop that monthly drain, then work the loan payoff as described above. Check whether your specific lender holds a security interest in the equipment (review your loan agreement), which would affect the sale process — though most consumer BNPL installment loans for fitness equipment do not place a formal lien on the asset.
For gym membership contracts that went to a collection agency — a different situation from equipment financing — see our page on gym membership in collections.