i know all that. if you just need to drive a handful of nails into a board, sure, you can buy a hammer for 2 bucks at a dollar store. but, if you are going to use a hammer on a daily basis then you should be prepared to spend 30 bucks on a quality tool that will possibly last a lifetime and be relied upon to perform as needed.
the point im trying to make is- there is no such thing as a new "budget" bike. if a person wants to buy a bicycle that they will use on a daily basis that they can rely on and even enjoy, that person should be prepared to spend at least 700 for a NEW bike. OR, he or she can purchase a good quality used bike. this is the option i always recommend.
the OP could have purchased a used dahon curve that has big apples as stock and internal gear hub and seat post pump for 250-375. that's just one example...