MIGs are nice(I want one), but a regular old 'stick' arc welder is very inexpensive, and a good starter machine.

I have a common 220v Lincoln.
Great for fabrication and structural work.
Can melt through very thick materials.

Hard to control on thin body metal, however, and welds require more cleanup than with the fancier machines.

I also have a 120v Sears, which is not great as a stick welder (weak), but can be setup with a carbon arc torch for brazing, and it works well with a spot welding attachment, which is nice.

Really depends what you want to use it for...

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1986 300E 5-Speed 240k mi.