I always buy exercise equipment used (kijiji, marketplace, etc). Lots of virtually-new equipment out there just gathering dust, and people are happy to free up the space at a fraction of the cost. Works best if you're not in a rush to buy as you can get real quality equipment for very cheap.
It's been a few years, but I relied on reviews from
treadmill doctor. They repair exercise equipment, so have good insight on which brands/models cheap out on parts.