You haven't said what model. It was a common fault with the G3 that the part you click the handle in to would separate. ( The rivets holding the unit together would vibrate loose) Short of replacing that unit which would probably not be cheap those rivets can be removed and replaced with more rivets or small bolts and nuts. With the handle removed the plastic cover over that unit can be pulled off upwards and you will see the problem.
If it's later than a Generation 3 machine, I have never seen a problem there, there is always a bit of movement, but the answer to your question is NO, it should not be really loose !
GJ, June 2011
