Join Date: Nov 2008
Location: niagara region
Bikes: 1987 bianchi campione d'italia, 1970's eatons glider, 1990's hybrid, 1992 trek antelope
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Check the hubs to see if they are loose or too tight. Pick up the front of the bike and see if you can wiggle the front wheel side to side. If you get a little play, then the cones are loose. If there is no play, then try removing the wheel from the bike and see if the axle spins freely. If it spins good, then all is good with the front wheel. If it is tight, or you can hear the dry bearings, then you will need to adjust\lube the front axle. This procedure may require 13mm cone wrench for the front, 15mm cone wrench for the back, as well as 15\17mm wrenches. Repeat for the rear wheel.
Next, remove the seat\seatpost from the bike carefully with your wheels installed. Then tip it over to see if anything falls out of the frame. Grease the post before reinstalling it.
Next, try to get the bike upside down and see if you can dribble some light oil into the cable housings where exposed. This helps free up the cables for more responsiveness.
There are excellent articles on fixing bikes online like Sheldon Brown, Park Tool, and others.