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Smart exercise bikes are all over the market today, but not all are created equal. Peloton and Schwinn likely need no introduction—both of these brands are household names, although the former is a young buck and the latter is a seasoned vet. 

The Peloton Bike and the Schwinn IC4 bike are both indoor cycling bikes with Bluetooth connectivity that allow you to take advantage of live and on-demand classes via fitness apps. 

But, they have some pretty stark differences, too. In this review of the Peloton vs Schwinn IC4, I’ll break it all down to help you decide which one is right for your home gym. I’ve personally tested the Peloton, and GGR founder Coop has tested the IC4, so we’re ready to fill you in. 

Editor’s note: Peloton in May 2023 announced a voluntary recall of all original Peloton Bikes sold from January 2018 to May 2023 because of a defect with the seat post that causes it to break while in use. Peloton has identified 35 reports of broken seats, resulting in 13 injuries including a wrist fracture, lacerations and bruises.

The original Peloton Bike can be identified by “its PL-01 model number on the label located on the inside front fork (near the flywheel), the red ‘P’ logo followed by the white-colored’ ‘Peloton’ brand name on the Bike’s frame, and by its non-swivel display.” 

If your bike is impacted or if you have any questions, call Peloton’s support team toll-free at 866-679-9129 from 6 a.m. to 12 a.m. ET, 7 days a week or by visiting onepeloton.com and clicking on Product Recalls at the bottom of the page.

Schwinn IC4
Schwinn IC4
Schwinn IC4

Designed to work with the Peloton® and Zwift® apps, allowing you to stream thousands of classes directly into your home and compete against others in a virtual world that motivates you at every mile. Access the Explore the Worldâ„¢ app and digitally immerse yourself in a world of virtual races, exotic locales, and stunning trails from around the globe. Smooth, magnetic resistance. Full color backlit LCD display. Media rack. Slim, comfortable Bluetooth® LE (BLE) heart rate armband. 3 lb. dumbbells with easy-reach cradles. USB charging station

Quick Look: Peloton vs Schwinn IC4

When researching exercise bikes, there are quite a few characteristics you should keep in mind, including the price, technology features, type and levels of resistance, and other functionality like the footprint and weight capacity. Here’s a look at the specs of the Peloton and Schwinn IC4 side by side.

Peloton vs Schwinn IC4 Comparison Chart

PelotonSchwinn IC4
Price$1,445$999
Footprint59” L x 23” W x 53” H 54.6” L x 30.7” W x 51.8” H
Weight135 lbs112 lbs 
Display21.5” HD touchscreenLCD
Resistance100 levels of magnetic resistance with manual knob100 levels of magnetic resistance with manual knob 
DriveBelt Belt 
Flywheel38 lbs40 lbs 
PedalsDelta-compatible aluminum Dual-sided SPD clips/toe cages
Seat adjustmentVertically and horizontally Vertically and horizontally 
Handlebar adjustmentVerticallyVertically and horizontally 
Device Holder NoYes
Water Bottle Holder YesYes
Max User Weight297 lbs330 lbs
Connectivity WiFi and BluetoothBluetooth
ProgrammingPeloton JRNY
Heart Rate Monitoring Yes (must purchase your own band or strap)Yes (armband comes with the bike)
Dumbbells Cost extra Yes
Warranty 5-year frame, 1-year touchscreen, components, pedals, and labor 10-year frame, 3-year parts, 1-year electrical, 90-day labor

Who Should Buy the Peloton Bike

  • Those who want the boutique cycling experience
  • Those who place a premium on technology 
  • Those who want don’t want to bother with assembly themselves 

Who Should Buy the Schwinn IC4

  • Those on a budget
  • Those who want a more compact bike 
  • Heavier people 

Key Similarities Between Peloton and Schwinn IC4

The Schwinn IC4 is billed as a Peloton alternative, and rightfully so—if you don’t have the cash to drop on a Peloton, it could be a good substitute. Here’s what they have in common.

  • Both bikes have 100 levels of magnetic resistance 
  • Both bikes allow you to stream trainer-led workouts 
  • Both bikes can track metrics like time, speed, distance, cadence, and resistance level 

Check out our full Schwinn IC4 review to read all about all this bike’s highlights. 

Important Differences Between Peloton and Schwinn IC4

While there are quite a few similarities, there are some major differences between these two bikes as well, including:

  • The Peloton has a 21.5-inch touchscreen, whereas the IC4 has only an LCD display; you’ll need to use your own device to stream workouts on the Schwinn IC4.
  • The Peloton only comes with a five-year frame warranty and one-year mechanical, electronics, and labor warranty; the IC4 has a 10-year frame warranty, plus three years on mechanical and electronics, and one year on labor. 
  • Although the Peloton is nearly 30 pounds heavier than the IC4, the IC4 has a higher weight capacity and a smaller footprint.

Read our full Peloton Bike review to get the in-depth scoop on this machine.

Technology and Programming 

While both the Peloton and the Schwinn IC4 are smart bikes, the Peloton is smarter. This cardio machine is built on technology, and its drawing point is the high-quality native programming it offers—which includes live classes and on-demand options—on a large 21.5-inch touchscreen. Clip in and compete with other riders on the leaderboard, or even hop off the bike to do a strength, yoga, or running workout. You’ll pay $44 per month for the subscription.

The Schwinn IC4 has a small backlit LCD screen display that displays metrics. With your purchase, you’ll get a free year of JRNY programming, which costs $12.50 per month after your first year.

Closeup of Scwhinn IC4 bike screen
Schwinn IC4 display

You’ll need your own device to stream JRNY, but you’ll also have the option of using other fitness apps like Explore the World, Zwift, and even the Peloton app via the IC4’s Bluetooth. As more of an open-platform bike, the IC4 providing you with the flexibility to choose which monthly subscription you want to use could be advantageous, especially if you’re a beginner and want to try out several programs before committing. 

Workout Experience

I’ve used the Peloton Bike at our testing facility, and while I don’t love everything about the actual bike itself, the experience that a Peloton digital class provides is just *chef’s kiss*, and in my opinion, worth the price tag. The instructors are great at what they do, and there’s someone for everyone. It just takes a few taps of the screen to get going, and the bike feels stable during the ride thanks to its heavy-duty steel frame and smooth magnetic resistance.

A image of a woman riding the Peloton bike

However, there are a few negatives (in my opinion) about the Peloton Bike. First, you will need cycling shoes to use it, which Peloton offers for an additional $125—I like the option of toe cages. Second, the seat is just not that comfortable, but that’s fairly common among exercise bikes (and also a complaint about the IC4). Lastly, the handlebars on the Peloton can only be adjusted vertically, which is a bit surprising—many bikes offer horizontal adjustment as well. 

We also have the Schwinn IC4 in our testing facility, and Coop has tested it pretty extensively. His overall sentiment is that it’s a great bike for the price. The magnetic resistance and heavy flywheel provide a smooth ride, and while the seat (again) isn’t super comfortable, he appreciated the adjustability of it and the handlebars.

Photo of the Schwinn IC4 Bike in a warehouse
We’ve tested the IC4 vigorously in our testing facility, so we can evaluate the IC3 accordingly.

He did connect the IC4 to his iPad to stream the Peloton app, and while it worked, it took a few minutes and required some leg work. For some, it may be preferable to have an integrated touchscreen for programming, but if you don’t care much about technology, or don’t have the extra $500 to spend, the IC4 will work just fine. So, all in all, while it isn’t as high-tech as the Peloton, the IC4 provides a good alternative for the price.

Ordering and Assembly 

The ordering and assembly process for the Peloton and Schwinn IC4 differs, and may be a make-or-break for your purchasing decision. 

Up until late August 2023, you could only purchase the Peloton Bike on onepeloton.com. Now, it’s also available on Amazon, which may make it accessible to more people. Financing is available on the Peloton website for as little as $38 per month if you qualify, or for just over $120 per month on Amazon if you qualify. 

When you order the Peloton, delivery and in-home assembly are included in the price, so all you’ll have to do is open the door—nice! Our bike took a few weeks to be delivered, which seems pretty standard—the company has had on-and-off stocking issues since the pandemic—and was fully assembled at GGR HQ in about 15 minutes.  

On the other hand, if you order the Schwinn IC4, you’ll have to assemble it on your own unless you want to pay extra for expert assembly. It took Coop an hour to put this bike together on his own, and he said the instructions were not the best. Also of note, the parts were not clearly labeled, which is not ideal. If you’re not the best at assembling equipment, it may be worth it to fork over the extra cash for professional help.

Customer Reviews

Reviewers think highly of both of these smart exercise bikes. The Peloton Bike has more than 20,000 reviews on the Peloton website with a 4.8-out-of-5-star rating at the time of writing. Most reviewers praise the instructors and how the bike has changed their home workout game. 

The Schwinn IC4 bike has a 4.6-out-of-5-star rating on the Schwinn website as of this writing. Reviewers like this bike for their home gyms, citing its simplicity and stability as selling points. 

Company Policies

Peloton’s warranty is not great—five years on the frame, and 12 months on the touchscreen, components, pedals, and labor. Schwinn, on the other hand, offers a 10-year frame warranty, plus three years on parts, one year on electrical and 90 days on labor. Schwinn’s policy is more in line with industry standards, which is pleasantly surprising given the sub-$1,000 price point.

You can try the Peloton for 30 days at home, and if you don’t like it, they’ll pick up the bike for free and give you a full refund—that’s pretty sweet, I must say. With Schwinn, you have a much longer period of time to decide—within 6 weeks of delivery—but your refund will be less shipping and handling and you’ll have to handle sending the bike back on your own, which won’t be an easy feat.

An image of Peloton vs Schwinn bikes

FAQs About Peloton vs Schwinn IC4

Is the Schwinn IC4 harder than the Peloton?

While both bikes have 100 levels of magnetic resistance, the levels do not necessarily correspond—i.e. a 20 on the Peloton is not exactly the same as a 20 on the Schwinn. There are conversion charts available online, though we haven’t tried them.

Is the Schwinn IC4 the same as the Peloton?

No, the Peloton and the Schwinn IC4 are not the same, although they have some similarities—they’re both smart bikes that have 100 levels of magnetic resistance that allow you to stream trainer-led workouts. In terms of differences: The IC4 has a smaller footprint than the Peloton, and the Peloton has a large integrated touchscreen to view the workouts, while the IC4 requires you to use your own device.

What is the most comparable bike to the Peloton?

We have a whole list of Peloton alternatives that we recommend, including:

Best Peloton Alternative Overall: Echelon Smart Connect EX-5 
Best Peloton Alternative for Studio Classes: Schwinn IC4
Best Budget Peloton Alternative: ProForm Carbon CX
Best Peloton Alternative for Small Spaces: Sunny Health & Fitness Synergy Magnetic
Best Adjustable Peloton Alternative: Keiser M3i Indoor Bike
Best Peloton Alternative With Leaning Mode: Bowflex VeloCore
Best Peloton Bike+ Alternative: NordicTrack S22i Studio Bike

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