Join Date: Mar 2003
Location: Beaufort, South Carolina, USA and surrounding islands.
Bikes: Cannondale R500, Motobecane Messenger
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If the hubs, BB, and freewheel/freehub spin freely, just replace the chain. The riding will buff off most of the rust. You can remove the chainrings and clean them with steel wool. Bolt cutters work best to remove the old chain. Hopefully the derailuiers and shifters work OK and the brakes are in good order.