Accident Just Happened
Join Date: Jun 2005
Location: Nordeast Minneapolis
Bikes: Bridgestone MB-3, Raleigh fixie, Bridestone MB-1, Hiawatha Super Chief
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It depends on how badly rusted they are and what they fasten.
If you're taking them in anyway, ask the mechanic. Most of them will probably be fine with a run through the parts washer or just a simple lubrication. The fasteners themselves are pretty cheap, but the work associated with replacing them may not be. If these fasteners require adjustments to be made after their removal and replacement, such as bolts that hold cables onto derailleurs or brakes, it may be (relatively) expensive to have a mechanic do this for you, as more work has to be done that just swapping out the part.
If you do try to do it yourself, only use solvent lubricants like WD-40 or 3-in-1 to loosen fasteners. Then clean them and whatever else was exposed to them with degreaser. Get the rust off the parts with steel wool, a green scrubbie, or a good stiff brush. For chromed parts, there is special chrome polish. Lots of bike shops carry this. Depending on the fastener, you may wish to use bicycle grease or beeswax when you put them back together. For parts that move, like the chain, derailleurs, and pulleys, clean, degrease, and use a bicycle-specific lubricant--not motor oil, auto grease, or solvent lubricants. There are many brands to choose from, and many opinions on the subject. A search here will reveal more argument than you ever imagined possible about the best lubricant to use for different components in different conditions.
In general, its not a good idea to leave your bikes outside, especially for extended periods of time with no maintenance.