Variable Speed Does Not Work - Model 395

with tool unplugged rotate tool end with your finger tips if it gives any resistance to this your bearings have forign material in them (happens if your doing grinding allot) if a liberal dose of light oil (sewing machine) does not improve this friction im sorry but you;ll have to replace tool to run slower speeds

YES.
DREMEL HAS THAT PART AT ABOUT $2.00 AND SHIPPING ABOUT $2.50.
CALL 1-800-437-3635.

I beleive you will find a broken connection at the field coil. The connectors for the coil break as well as the coil wire close to the connectors. You can try to repair the coil yourself or replace it (# 2615302206 Field, 120v

Drywall dust has ruined your tool. It seizes up bearings and bushings like you wouldn't believe.

if the motor runs fine ande the drive shaft to the tool just stops turning, look at my previous response

Sounds like a switch or brushes. You can go to Dremel.com and they have a toll free number for their tech services and you can also download a breakdown for this tool.

I would recommend going to Dremel.com and asking their tech section about this. I have one also and mine works fine other than a small amount of heat at the spindle area.

Someone else recently asked the same question and got the following solution;

http://www.fixya.com/support/t1515699-variable_speed_switch_dremel_395_get

The part number you need is 2610945681 variable speed switch. I checked a couple site with no luck but I suggest you call Dremel at 1-800-437-3635 and order direct. Good luck

threw it in the trash!