Fitness fanatics may be able to get their hands on a Peloton (PTON) Bike for a fraction of the price through a rental program, but there is a catch – they’ll have to wait five to 10 years in order to participate.

Peloton CEO John Foley entertained the idea on CNBC’s “Squawk Box” on Friday morning, announcing the prospect of rental service in the future. The announcement from Foley came just days after the company introduced a new version of its Bike with the Bike+ and on the heels of its positive fourth-quarter earnings report.

Foley said that he would be “surprised” if Peloton didn’t offer a rental plan for its equipment within the next decade, sharing, “It’s not something you are going to see in the next year. ... But I love moving in that direction. It’s all in the name of affordability for our members and making sure they feel incredible about the value.”

The rental option would allow Peloton to penetrate the fitness market further, making its exercise equipment more affordable for the masses, Foley said. Peloton reported that its members are averaging 24.7 workouts a month, an increase from the 12 workouts a month reported last year.

Peloton, which currently offers a 30-day trial of its products, has seen its earnings soar as more people look to home fitness options during the coronavirus pandemic. Still, as gyms reopen, many people remain leery of returning to the locations in fear of the spread of the virus. As a likely result of this, Peloton reported its Q4 2020 revenue increased by 172% to $607.1 million compared to the same time last year and 100% to $1.8 billion for fiscal 2020 compared to fiscal 2019.

The new product launches from Peloton included the Bike+, which sells for $2,495, and the Tread – a treadmill, which sells for $4,295. The company also announced earlier this week that its current Bike model will have a reduced cost of $1,895, down from $2,245. Peloton is offering a $350 refund to consumers that bought the Bike in the last 30 days or are still awaiting the arrival of their new Bike.

Beyond the rental idea, Foley also recently suggested that the company may sell its used Bikes in the future as it currently offers a trade-in program for customers to upgrade to the Bike+.

Shares of Peloton were trading at $90.13 as of 10:44 a.m. EDT on Friday, up $2.38 or 2.71%.

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A Peloton stationary bike sits on display at one of the fitness company's studios on Dec. 4, 2019, in New York City. Scott Heins/Getty Images
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