I was looking at a Universal M1 carbine yesterday at a local pawn shop. It is missing the slide lock lever but other than that it seems o.k. The guy wants $275 for it and won't go any lower. I don't keep up with M1's so is it a good price for it missing a $3 part?

I'd try and talk him down to at least $250

The problem with the Universals and all other NON USGI carbines is first, they have no collector value. Second, if and when they do break some parts, you may or may not be able to find them. Most of the NON USGI carbines have non standard parts that do not interchange with USGI carbines.

I would also rate the Universal as the absolute worst non USGI carbine out there. Plainfields and Iver Johnsons are some better. Even at $250, I would pass. All you may be buying is a mess of spare parts. You have to remember, the part you end up needing is the part everyone else has needed and there very well may be no more.

I owned one. I am good friends with the guy who owned it before me. Neither of us ever had a problem with it. When I bought it I stripped it, cleaned it, and reassembled. I then proceeded to shoot the shit out of it. I put plenty of rounds thru it & it always ran 100%. Your mileage may vary.

What are you getting with the universal is a fun, inexpensive carbine that shoots a round a little more potent than a .38.

If you aren't buying it for the historical aspect it is a good choice.

Pass.  Universals are very unpredictable.  Some have had good luck with them.  Others not.  My friend's Universal literally wore itself out in less than 2000 rounds.  Steel was to soft.  Check with Numrich on parts availibility before you lay out the cash.  

Carbines are fun little guns to shoot.  I understand the desire to get into one for less than the going rate for USGI.  But don't go Universal.  

Quoted: I was looking at a Universal M1 carbine yesterday at a local pawn shop. It is missing the slide lock lever but other than that it seems o.k. The guy wants $275 for it and won't go any lower. I don't keep up with M1's so is it a good price for it missing a $3 part?

In SE Michigan, the local gun shops sell them for around $275- 300. If you look around you can usually find a "Blue Sky Import" for around  $350-400.  The collectors seem to disdain  them but I have three and they are great. (Saginaw,Quality Hardware,IBM) All are GI.