It could be a good deal, like Trent said. It is an older lathe and I would call Grizzly and ask about parts. If nothing major breaks and you don't drop it on the way to your house(yah....I did), the bearings ect can be bought local if they go bad.
That said here are a couple suggestions:
1. Show up with cash and if you can, the means to load it without coming back. A seller who sees cash knows you are serious and it is a bonus if you can point out the hoist in the back of your truck.
2. Bring a friend
3. Run it and listen for obvious noises. Look it thoroughly up and down. Sometimes cracks can be overlooked.
I have to run, but if you go and get it a lathe of that size can be safely loaded into the back of a shortbed with an engine hoist. Don't try and wrangle the thing in with the hoist. Remove your tailgate, get into a position where you can lift the lathe high enough to clear the bed, and then carefully back your truck under the suspended machine.
The yellow straps from HF are your friends. Use plenty to balance, load, and secure. I can go into alot of detail tomorrow night when I get home if you want to PM me your number.