Originally Posted by
gerv
I think you are confusing capital costs with operating expenses. Most of what you bought with that $3,000 will last you a very long time. I bought a bike in 2006 for $850. I rode it to the store this morning and I expect it to last another 10+ years. You will have some operating expenses, but they are pretty minor compared to the initial cash outlay.
Another major thing to consider is the unpredictability of bike theft. In urban environments I know numerous people who have had more than one or two bikes stolen over the course of several years. Then there's also theft of wheels and other components. Vandalism, such as bending of wheels, is another not uncommon happening in cities.