Just found one at a swap meet, cheap. the lens will not close or open...is it worth fixing? Can I work on it? How much is an average repair on this model?
Not many of these were made, and they certainly weren't up to Leica's usual standards. Not at all bad, but certainly no better and possibly slightly worse than comparable high quality compacts from the likes of Nikon, Canon, Pentax, Minolta and Olympus.
Spares are difficult to obtain independently although it's quite possible that the Leica repair centre in Germany may be able to fix your camera. There is no such thing as an "average repair" cost for your model as so few of them come up for repair. If it was a regular mainstream model you'd be looking at around £120 for the lens assembly plus labour costs, but that assumes that it's just the lens assembly and ignores the fact that Leica's optical components are always very expensive to replace.
However, repairs are likely to cost far more than the camera is worth. It's not particularly sought after by collectors, but you're still likely to make a tidy profit if you bought cheaply enough if you list it on an auction website as a spares or repairs example. There are enough uninformed speculators out there who will think that they're getting an easily repairable bargain.
If you want a comparable model (in my opinion superior in every way) then look out for the hugely under-appreciated Canon Sureshot 120 Classic. It's absolutely superb and has one of the best lenses I've ever had on any 35mm compact camera; exposure is outstanding as well and it has spot metering as well. Watch out though, as the word is slowly getting around about them, but until recently they went for around £5 to £15 in absolutely perfect condition.