I've got a '08 Schwinn LeTour. It's a Sora road bike I got for $550 at a Performance Bicycle in San Francisco. It's been twice across the continental US, ridden in the rain, broke my clavical crashing it. I use it as my do-everything, touring, commuter bike. The frame and fork are solid, but lately the components are kind of falling apart. The front derailleur got sucked into the drive train and mangled, so I have it locked into one chain ring right now. Also I checked the chain stretch yesterday at 1/8" over a 12" span. I replaced it and sure enough, the new chain skips. The headset and cables have all sorts of clicks. The bottom bracket is kept from loosening with plumbing tape on the threads. Also, I've replaced the front axle with one that has slightly larger cones, so now the bearings ride right along the inside of the race. I've been tightening down the cones repeatedly as the bearings wear in the groove.
So now that Winter is on, I'm debating whether to get a new bike or not. I have one nicer Bianchi road bike for going on rides. I could clean and fix this one up: new bar tape, new derailleur, new casette, maybe new middle chain ring, maybe new wheels.
Or I could sell this one with a $20 fd, probably for around $200-350 in the spring - the 30 year old 10-speeds go for $200 here- and get a new comparable bike in the $800 range. This is in Canada where bikes are more expensive. Or I could look around for a better used bike, maybe cobble together a frankenbike from the best of both.