Peloton is expanding its rental program nationwide a day after two of its cofounders stepped down

Peloton announced Tuesday it’s expanding its bike rental program nationwide.
Customers can rent the Peloton Bike and get access to classes for $89 per month plus a $150 set-up fee.
The expansion comes a day after Peloton cofounders John Foley, who was formerly CEO, and Hisao Kushi stepped down.

Peloton is making its bike rental program available nationwide.

The company announced Tuesday that it’s expanding the offering, which hit several test markets earlier this year.

Renting the Peloton Bike will cost customers $89 per month, along with a one-time fee of $150 to set it up. For the Peloton Bike+, the cost is $119 per month plus the $150 one-time set-up fee. Riders can cancel their rental at any time with free returns.

Renters who decide they want to keep their bikes can buy them, with the price depending on how long they’ve had the bike. After one year of renting, the Peloton Bike would cost $895, and the Bike+ would be $1,595. Those who buy their bikes after renting will then pay…

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This article was written by [email protected] (Sarah Jackson) and originally published on www.businessinsider.com