I also have a third option. I have an 02 or 03, stumpjumer hard tail that I could convert to a commuter. I would have to replace the stem as it is slightly big for me. I have fenders for mtb. Also, I forgot to mention that my work reimburses $300 / a year for fitness equipment. They will pay for a bike, new / used, or fitness equipment. So, it amounts to about $150 - $175 after taxes. Also, my commute is 17 - 20 miles each way. Depending on whether I take the quickest route or the safest.