Boy, if it doesn't have a way to adjust the balance to the required weight for the cartridge, it is a very inexpensive TT and will certainly eat your records in a hurry if the arm would make contact
You would also need adjustment for anti-skating as well.
Yes, if you have a large vinyl collection and are interested in breathing life into them, might be best to get a good one, used or new.
Have you found your TT on line someplace so we can see a picture of it?