OK my contribution to the never-ending "cheap bike" thread....

BTW I live in SE Florida and have all my life (so far). For most of that time I've owned steel bikes and have never lost one to rust.

Anyways...Via eBay I just picked up an essentially brand new Schwinn Jaguar cruiser. 7 speed low-line Shimano drivetrain with alum rims, stainless steel spokes (!) on a high tensile (gas pipe) frame.

Cost: 40$ + time/gas to drive down to Lantana to pick it up (less than shipping would've been but ~100 mile round trip).

Can't really find anything wrong with it, even if I'd paid the retail of $100 or so.

Wouldn't ride it with a fast group but I wouldn't take a $700 cruiser (they exist) on such a ride either. For chasing my kids around it's ideal and it would be for short commutes as well.

The alum rims and SS spokes correct the major problem I've had with dep't store bikes. V-brakes, even cheaper ones, are pretty effective and that solves the other dep't store gripe as well. Ideally, I'd spec it with an internally geared 3 speed (or more) hub but the industry seems to have come full circle on internal gearing. Used to be "3 speeds" were relatively cheap transportation and derailleur bikes more expensive. Apparently intrnal gearing is more expensive now.

All in all you can get a decent bike from a mass retailer, though I strongly suggest you take it unassembled and build it yourself or take it to a LBS, money well spent.