As you know, I recently started making plugs. Well I went out and bought a new band saw and a disk/belt sander and other tools new. I did not have the extra cash so I found and bought a used drill press and lathe.
The chuck keep falling off the drill press

, fixed that. Started turning my second blank on the lathe and smoke started pouring out and the motor went.

This was not a good lathe anyway it is made by Chicago tools. I thought it would get me going until I saved up to get a good one. THIS IS WHY I HAVE ALWAYS BOUGHT EVERYTHING NEW!

Should not have changed the way I have always done things.
What would you suggest as for a new lathe? I do not want to spend more than $500.00.