Anonymous wrote:OP here. Thanks for the comments; rethinking the budget. We are willing to buy used, especially if we can get a warranty. Life Fitness actually has one that folds--the F1 Smart Treadmill. Do you think that's worth getting?
I did extensive research and agonized over this. I ended up with the Sole F80 Folding treadmill....it was between that and the LifeFitness one. I'm very happy with the Sole, I picked it for the longer deck, as my DH is 6'3" and I'm 5'9". At the time my DH was 275lbs and we needed something that would be sturdy for him. The deck on the LifeFitness was too short and I feel that you are paying for the brand name. The Sole stacked up even better when it came to the engine and power.
3 years and hundreds of miles later, it is still going strong.
A word of caution, a real treadmill is going to need a dedicated circuit, or at least one that is not loaded with aching else more than maybe a lamp-especially if you are running on any sort of high speed or using the incline, or if you are heavy.
You are not going to find a running treadmill for 500, and probably not even a good used one for that price. You can find a walking treadmill, but it will be flimsy and probably make a total racket.