I'm new to the world of cycling and picked up a 1984 Trek 420 about a month ago. I've loved riding it around (seems fast to me) but it has had a few faults. (previous owner had seat post that high)
The chain has been skipping sometimes and the rear derailleur is not calibrated correctly (it won't go into the biggest gear and will fall off on the smallest). But other than that, the frame has no rust and the tires are basically brand new.
Today, I broke a link on the chain and it is no longer ride-able. I was really hoping to get a year's worth of riding out of this bike before having to get it tuned or anything. I figure since I have to take it into a LBS to fix the chain, I might as well get it tuned and looked at. I'm worried that the skipping might not be just the chain because the front cogs are a bit worn (but not horribly so). I know it will cost around 60 for a tune-up plus however extra for fixing or replacing the chain (maybe around 100 total?).
My question is, would you guys fix it, get it ride-able and flip it on CL and either buy a new bike or search for a different used one or stick it out with this bike. I'm really worried that this bike may turn into a money pit of constantly buying new parts/fixing things. I'm reasonably handy but don't have a lot of space/tools/time (med student).
I don't have a lot of money but if it will be cheaper in the long run to just buy a low-end new bike I would consider it. Thanks