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A Costco membership can be a valuable investment. Many shoppers have a Costco card in their wallets to access members-only deals on household goods and groceries. But there are other ways Costco helps its members keep more money in their checking accounts. The warehouse club retailer sells affordable exercise equipment and is expanding its offerings.

Costco recently announced a partnership with Peloton. Starting in November, Costco members can buy a Peloton+ bike from Costco at a discount. This members-only deal will offer savings of up to $496. Here’s what you need to know about this offer.

Costco members can save up to $496 on a Peloton+ bike

At the end of October, Peloton and Costco announced a partnership offering significant savings through the upcoming holiday season. Starting Nov. 1, 2024, through Feb. 15, 2025 (while supplies last), Costco members can purchase a Peloton+ bike at a discounted price.

Peloton+ bike models will be sold at 300 Costco stores and online at Costco.com. According to a press release from Peloton, the in-club retail price is expected to be $1,999 for a self-assembly Peloton+ or $2,199 at Costco.com, with delivery included. A 48-month warranty will be included — an additional 12 months beyond the standard warranty period.

The Peloton+ retails for $2,495. However, it’s worth noting that when buying a Peloton+ through the retailer’s website, delivery and installation are included. Bikes sold through Costco do not include installation or setup. This deal offers Costco members savings of $296 to $496.

The Peloton+ is a premium exercise bike that features a rotating touchscreen, auto resistance knob, and displays in-workout metrics. It also has a compact design, making it ideal for smaller spaces.

Users must pay a monthly subscription fee of $44 to access Peloton content. However, this subscription lets you create up to 20 profiles for one household. This could be an affordable subscription if you live in a household with multiple people who like to work out.

Tips to maximize the value of your Costco membership

This upcoming offer is one of many deals that Costco members can shop. A Costco card is an investment, so it’s wise to strategize ways to get more value from your membership.

One way to do this is to pay attention to current sales. While the retailer frequently offers discounted prices for many goods and services, Costco also runs additional sales. Shopping during a limited-time deal is a great way to save more money.

Another way to maximize your Costco membership is to earn rewards at checkout with the right credit card. Click here to review our list of the top credit cards for Costco to see how easy it is to earn rewards on your Costco hauls. By earning rewards, you can pay yourself back to maximize your savings.

Top credit card to use at Costco (and everywhere else!)

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Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

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Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.