This may be a power supply problem - the resistance motor is the first thing to quit if the batteries lose power.
Try fitting some new Duracell batteries(not cheap ones) and if it still won't function open it up and check to see if the belt is fitted correctly. As the machine is making unusual noises, I suspect it may be a belt problem. If the belt is ok then you will need to test the tension motor by doing the following:Remove the plastic shields and locate the tension motor. You can test the motor, by using a 9 volt battery - attach a wire to positive and negative side then touch the yellow and blue wires of the motor- let it run til it stops and then switch the wires around and let it run the other way. If it works both ways the motor is good. Then test the harness for continuity from the console to the motor. You will need to use a volt meter to check the continuity. If the wiring checks out ok then you will need to check the voltage being supplied by the console through the blue and yellow wires when the tension buttons are pressed - it should be approx 6 volts.
Reply back and let me know how you get on...