Exercise Equipment Repair Questions? Ask a Technician
You can try applying some grease yourself to the moving parts of the mechanism.
Let me know if you need the contact details for a repairer in your area...
You will need to disassemble the outer covers to reach the internal parts of the machine.
You can use white lithium grease: http://www.amazon.com/Lucas-Oil-10533-Lithium-Grease/dp/B004X70LZA/
Here are some diagrams which show how the outer covers are held in place - you will need to remove all of the screws indicated: