Extended warranties are big profit centers for the sellers.

Which rather makes me think they are overpriced.

I’m not sure the math works here. SK paid $700 for the item. What will be the market value of a used treadmill in 3 or 4 years? I think if it breaks, the repair cost could be getting close to the value of the treadmill. So you’d be paying $240 up front, the treadmill may not break at all, or it might break at a point where you no longer want it or want a different one for whatever reason.

But I m not great at math, so maybe I’m all wet.

OK, I'm the only one with a slightly different POV based on eperience.

Ages ago, I bought a treadmill (new) and did purchase the extended warrantee. It was very well worth it. I wouldn't now, as a one-man company has opened which specializes in repairing exercise equipment. (He's saved my butt as it were several times, repairing my industrial strength but old stairstepper.)

Back then (my treadmill days) though, there were two charges to have a specialist (Nordic Track) come out for repairs - one for the repair itself (and parts) and the other for the cost of their coming out. The only Nordic Track repair center was hundreds of miles away from my rural location. They come out with new models at least annually and almost all have electronic controls now - some touch sensitive. If they fail (they do!) G-d help you without a warrantee.

If it had been now with the local exercise machine specialist, I wouldn't have gotten the extended warrantee. SK, you might want to make sure you have a nearby repair place who works on Nordic Track or actual Nordic Track center. It could be eye wateringly pricy if something goes wrong, and if you have to commission techs to come from a major distance.

Chances are you WILL have access because it's become a "thing" to repair exercise equipment (especially to serve gyms) unlike what I ran into a decade+ ago with my N. T. treadmill. Way back when, my warrantee saved me almost the price of my treadmill, because I didn't have to pay for the techs to drive out to my house figuring $75/hr for both their drive and the repair itself.