ok i was planning on buying this used 2001 cannondale bike for 500 dollars canadian. the guy paid almost 3000 dollars for it new. he is letting me test ride it for a week. also the guy im buying ths from i work with him. so only thing that ill need is a new front desk brake and a new seat. but he says i would be able to use the desk brake for a while. i trust him and all. btw he has 4-5 other bikes all over 1000 dollars. and he rides bikes all the time. thanks for your input
The pluses on this one: you have ridden the bike and it sounds like you enjoy it. So it will probably fit your needs. The guy is giving your a good deal on it. Also it is of recent vintage. You can put a pile of miles on a bike with proper maintenance.
Your mention of the brake kind of bothers me. It must be a mountain bike because the brakes on road bikes just about never go bad - you can wear down the pads but they are inexpensive to replace and after many miles the springs can go bad.
You might want to ride it over to the local bike shop (hopefully one you buy stuff from) and have a mechanic look it over and give you his take on the condition of the bike. By the way, a good reason to support he local bike shop is that they do things like this for their customers - free informed advice. If the bike is in sound condition and you like the bike, it sounds like a good deal.