Originally Posted by Sawtooth
I am 100% with cyclologist. Although I own some very high end racing bikes, my absolute favorite cost me $40 at a thrift store and is a 1982 Peugeot. It kills my training buddies that I would rather ride that bike than my TCR0 but I love it. If you have some wrenching skills, older bikes are very fun and reliable.
I have 2 of the same bike, and I love it. I picked up 1 for 5 bucks at a garage sale, 100% original, and the other I found frame only, and built it up. The oval cranks still crack me up. Plus its not everyday you see a 24 year old kid riding a bike as old as him, and doing a wheelie down the street on it.
Also, I would reccomend not buying a wally world bike... more problems than you want to deal with.
Go to all your local bike shops and ask around and see if one of the guys has somthing for sale. Typically you will find a great deal on a used bike that they dont ride, and the upside to this is most of the time, since they work at a shop, they keep it in good working order.
Other's are:
Pawn shops