Join Date: Aug 2008
Location: Ann Arbor, MI
Bikes: '15 Kinesis Racelight 4S, '76 Motebecane Gran Jubilée
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Another option to consider, based on what you've said, is the Wahoo RFLKT. For about 1/3 of the cost of used Garmin E500, you can get the RFLKT head unit and a Bluetooth speed/cadence sensor bundle that will allow you to view sensor and GPS data on your iPhone while it's tucked safely away. For about $200, you can the the RFLKT, spd/cad sensor, and a BT heart rate monitor.
I'm thinking it may be a good alternative to the 500 particularly since it sounds like you'd like to get something with turn by turn navigation in the future and are happy using Strava and the iPhone now anyway.