The Improbable Bulk
Join Date: Jul 2005
Location: Wilkes-Barre, PA
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If it costs nothing to bring it back, then bring it back.
If I put a limit on what to spend for repairs based on what I paid for a bike, I wouldn't have a hobby.
Don't make decisions based on sunk costs. The question should be, "Would I get more value by spending $100 to repair this bike, or spending the money on another bike?"
I don't know the specific model, but if it is a cromo frame, and if whatever damaged the wheel didn't damage the frame or fork, I think it is worth replacing a wheel...
As for the tire, replace them both if needed. View them as any other consumables, they are part of the cost of cycling, regardless of the cost of the bike.
If the cost of a tire is the determining factor on whether to keep the bike, I think it should only matter if you don't really like the bike, and in that case you should find something you like.