If you are on a budget, there is absolutely nothing wrong with buying used exercise equipment. Many secondhand stores sell them, as well as gym and fitness centers that need either extra room or are upgrading their equipment.
If used exercise equipment is in good repair and is well cared for after you take it home, there is no reason why it can't be used for several years to come, or even last a lifetime.
When in the market for used exercise equipment, make sure you buy from a reputable dealer and that all parts are in good working order. Do not be afraid to jump on that treadmill and try it out for a few minutes!
This is why gyms and fitness centers are a great place to buy machines from- they always have to keep everything in good repair because their members depend on them to have great, well-kept machines. Used exercise equipment does not have to be beat up or dinged- though a few cosmetic blemishes are not a big deal and can be overlooked.
You should ask the seller how to best maintain your machine. If it is in good repair, they have obviously taken care of it and you can get tips from them. Sometimes it's simply a matter of keeping it clean, while other machines may need an occasional oiling or tightening of nuts and bolts. Whatever it is, listen carefully and make sure you can do it (or know somebody who can) before you commit to buying.
Buying workout machines this way is a cheap way to start a home gym or add to your collection. Brand new is great but secondhand can be just as good and effective with proper care and maintenance.