Tell you what, at this point in time any bike that you can ride away on for $40.00 is a good buy! well not any bike, but Im sure you get what Im saying I don't know what make it is but it look's like a good sturdy bike to me! just be sure you take along someone that's got some knowledge (and tools) about bike's and isn't biased by age or look's (of the bike ) if it's got cottered cranks I'd check them out carefully, just check and see if they have any play in them by holding the crank arms each in one hand, hold one steady while pulling back and forth and side to side on the other crank arm, if there is any play I'd avoid it as it may just need tightening but it just may be worn, check that the frame doesn't have dents or cracks or bends, and do the same with the wheels, bike doesn't appear to be rusty but do check for deep rust around the areas where the tubes fit into each other, check that the seat tube and stem are not frozen in the frame too, if they come out your fine but do check for rust inside the seat tube and fork while they are out, you prob won't find anything that matters in the way of rust if the seat post and stem come out easily, If it check's out OK you have yourself a great bike to ride for $40.00! let us know how it goes.