If you scrap it the motors are useful. You can get a basic speed controller on Amazon for 25.00. This sort of controller is useful if you use the motor for grinder or to add variable speed to a lathe or bandsaw.
It's a fun little project. I have seen some used to repower smitty style mills.
If you are feeling adventurous, look at the capacitors on the speed controller board, if they are bulging or split that is the problem.
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