Guide to Financing a Treadmill: Loan, Lease, or Line of Credit — Which One is Right For You?

You’ve vowed to keep up with those cardio goals and a home treadmill seems like your ticket to be a goal crusher — but your bank account balance is saying it’s a no-go. Anyone with a home gym or even just a home treadmill knows that fitness equipment comes with a hefty price tag. When making equipment purchases, few people have the extra capital lying around to purchase outright.

So what’s a goal crusher to do? Before you look into refinancing your home or getting a second job, sit tight and read on. Plenty of gym equipment financing options are out there to quickly get you running on one of the best treadmills. Pressing “complete purchase” on an expensive piece of exercise equipment might feel like a splurge, but, as BarBend expert reviewer Amanda Capritto notes, “It’s hard to put a price tag on your health and fitness.” Let’s break down the nitty-gritty of installments, down payments, interest rates, and more in our guide to financing a treadmill.

NordicTrack Financing Options

If you’re thinking about purchasing one of the best NordicTrack treadmills, you’ve got great taste. Not only does NordicTrack offer some of the most popular models on the market (who doesn’t love iFIT?), but they also have special financing offers directly through their website. 

“NordicTrack offers 0-percent financing for those who qualify, which can be really helpful for people who are ready to start exercising or using a treadmill but don’t have the entire purchase price available upfront. Decreasing any barrier to exercise is a good thing,” explains our expert reviewer, Amanda Capritto — and we couldn’t agree more.

NordicTrack makes treadmill financing fast and easy with their “Buy now, pay over time” payment plans. 

Here are the details:

• No minimum purchase required
• No down payment
• 0-percent APR for 24 or 36 months with equal payments from the date of purchase until paid in full
• Standard APR 29.99 percent
• Financing through TD Bank

Bowflex Financing Options

Bowflex has long been known for their home fitness equipment — and their rad, mullet-filled commercials in the 90’s.

If you’ve read our Bowflex Treadmill 22 review and decided that this treadmill is “the one,” these financing options make purchasing a piece of high-end equipment like this that much more manageable. 

One of the primary offers is the 18-month promotional financing, where you can make equal monthly payments and pay no interest if the balance is paid in full within 18 months. Interest will be charged from the purchase date if not paid in full within 18 months.

Bowflex also offers no interest for 36 Months on purchases of $1,699 or more made with your BowFlex credit card (issued through Synchrony Bank). Thirty-six equal monthly payments are required.

Here’s what you can expect with both offers:

• Equal monthly payments
• Line of credit will depend on credit approval
• Financing through Synchrony Bank
• No down payment

Horizon Fitness Financing Options

Horizon might not be the leader of the pack when it comes to all the bells and whistles, but don’t get it twisted — this brand is known for putting out durable, reliable, and quality products at an affordable price point.

If you’re looking for a quality folding treadmill on a budget, read our Horizon 7.0 AT treadmill review to familiarize yourself with awesomeness that’s affordable.

No matter how you prefer to hit your cardio fitness goals — treadmill, elliptical, rower, or exercise bike — Horizon offers payment options through Citizens Pay and Genesis Credit. Their website directs applicants to answer a few questions so they can connect you with the right lenders.

There are no upfront costs, you’ll receive your financing options in seconds. Depending on eligibility, 0-percent APR is available. 

Amazon Financing Options

Is there anything Amazon can’t do? Probably. But if you’re buying a treadmill, Amazon offers seemingly endless different types of treadmills and has payment options to help alleviate the burden of a big expenditure.

In some cases, you can opt to use Affirm at checkout, a pay-over-time platform that allows you to make purchases and pay with fixed monthly payments. You’ll be prompted to answer a few questions for a soft credit check. Affirm uses this information to determine your eligibility and provide a financing offer.

Affirm features no hidden fees, flexible repayment options, no late fees, and doesn’t impact your credit. However, late payments will affect your credit score.

Not all purchases on Amazon are eligible for Affirm. If your dream treadmill isn’t eligible to use Affirm, Amazon offers an Amazon Prime store credit card through Synchrony Bank.

The Amazon Prime credit card offers no annual fee, and a choice of either promotional financing or earning 5 percent back on eligible purchases. Be sure to read the full disclosures and fine print to ensure you’re not hit with high-interest charges or late fees. 

BarBend expert reviewer Amanda Capritto points out that “lots of companies offer financing options, which can help, but this route may not be worth it unless you can qualify for a 0-percent APR loan.”

Best Buy Financing Options

Best Buy offers options to apply for a Best Buy credit card, or lease-to-own for those looking to break up the payments without a new line of credit opened.

The Best Buy credit card offers 10 percent back on the first day of purchases when you are approved or no interest if paid in full within 24 months. (Be aware that the no-interest offer is on select exercise equipment purchases of $799 and up. Interest will be charged to your account from the purchase date if the purchase balance is not paid in full within 24 months.)

If you don’t have the credit, you might be thinking it’s not the best time to buy a treadmill. You can wipe those tears away, though, because Best Buy’s lease-to-own program doesn’t require you to have credit. That said, not all applicants are approved. 

Here are the details for the lease-to-own program:

• You must have an active checking account
• You’ll receive an answer within minutes
• You must be at least 18 years old with a valid social security or ITIN number
• Weekly, bi-weekly, or monthly payment options are available
• Offers a 90-day purchase option
• Leasing is through Progressive Leasing

Treadmill Loan Options

If you’re a small business owner looking to procure multiple treadmills, the above financing options might not be the right route to take. Thankfully, there are loan options to assist with this type of scenario.

(Side note: Pay special attention to a treadmill’s warranty if you are opting for long-term financing. Give yourself the peace of mind that your treadmill is covered under warranty for the duration of the financing period. If you need help sorting through warranties, check out our treadmill warranty guide.)

Let’s sort through these two loans offered through the SBA (Small Business Association).

SBA 7(a)

The SBA 7(a) Loan Program helps small business owners secure financing when they might not be eligible for traditional loans. The SBA doesn’t directly lend money, but provides a guarantee to lenders, reducing their risk and encouraging them to lend to small businesses.

Here are some relevant features:

• Loan amounts up to $5 million
• Loans can be used for various business purposes
• Interest rates can be fixed or variable and are negotiated between the borrower and the lender 
• Repayment terms on equipment are up to 10 years or the life of the equipment

This loan requires an extensive application process and has strict eligibility criteria that must be met to be approved, so do your homework before going down this road.

SBA CDC/504 

The SBA CDC/504 loan is an excellent option for small businesses looking to finance major fixed assets. This loan — sometimes used for real estate — can also be used for purchasing long-term machinery and equipment.

Just like the SBA 7(a) loan, there are strict eligibility criteria that must be met as well as an extensive application process.

Here are the key features of this loan:

• Loan amounts up to $5 million for standard projects
• Long-term financing for 10, 20, or 25 years depending on the nature of what’s financed 
• A low down payment (10 percent in most cases)
• Fixed interest rates

Treadmill Leasing Options

Leasing a treadmill can be a cost-effective option, particularly for gyms, fitness studios, or individuals who prefer to avoid the high upfront cost of purchasing.

In some scenarios, leasing a treadmill can make more sense than traditional methods of financing. For example, if you have no line of credit and you want something more robust (and pricier) than one of the best budget treadmills, you may want to consider leasing.

Here are some benefits of leasing a treadmill:

• Leasing typically requires a lower initial investment 
• Leasing does not always require good credit
• As technology improves, leasing allows you to upgrade to newer models
• Some leasing agreements include maintenance and repair services
• Lease payments may be tax-deductible as a business expense

Treadmill Financing FAQs