I purchased a 7x14 mini lathe sold by Grizzly in the States. It is basically a Sieg Chinese Lathe that's sold under a number of names, all made by Sieg. I am happy that I bought the larger size 7x14 as it handles a lot of project sizes.
However, it's was a big investment in time to get it running correctly. It took about a month to get it up and running right. Took care to research all of the prep necessary to unbox and setup. First, did not run due to bad switch. Then the motor required replacing. Then the motor control board. Note that Grizzly was very good about sending all replacement parts fast under warranty, good customer service!
A lot of effort, eventually I completely tore it down and rebuilt with upgraded bearings, gears, etc. I am happy with it now and it runs great! Very pleased.
As to cost, it was about $900 USD to purchase. I spent several hundred in upgrades and like all of them, such as tool holders, tools, etc.
Let me know if you have any specific questions. Thanks for the interest.