Hi mate,
I was in same predicament as you last year , brought an ital of e bay with out looking thought it would be half decent cos it had mot turned out it needed lots of body work :roll:
Have a poke round if it needs loads why not buy a welder and practice on some scrap (find a local body shop and raid the skip !!)theres an excellent website ( just type in something like mig welding how to in google ) that shows you what to do before you know it your be up to mot standard at least ! :mrgreen:
My mig cost £ 150 new ( could easily get a 2nd hand one a lot cheaper ) mask was £25 and gas was around £100 , you hire the bottle and pay for re fills i used Boc its a fair amount to start with but it soon re pays its self !
Have a look at boot fairs for cheap tools such as tin snips and hammers of diffrent shapes i picked up my grinder for £3 !
I started out the way on the floor pans , then did inner wings, then inner cills , then around headlights , then chassis rail then new outter cill ..... you get the idea it really was rotten.
If you plan to keep it and use it a lot i think its the way to go.
Good luck ,
Rob.