Originally Posted by jfz
...I bought a new Trek 820 at the LBS for $169.00 on sale and it has served me well for my 20 mile round trip commute. Buying the new bike was cheaper than repairing the old one...
One of the "odd" things about the bike industry is that a brand new $200 bike has about $600 worth of parts on it. I enjoy buying twenty year old bikes and fixing them up. But, if one of the old bikes requires new wheels, new tires, new brake levers, new brake calipers...it is easy to spend $400 fixing up an old bike.
This time of year, many bike shops are "clearing out" the last of their 2004 models, and any "overstocks" from the holiday season. A bike such as the Trek 820, or a Trek hybrid can be found for around $200. And, there will be some bargains in the $400 range - bikes that ride as nicely and reliably as a $1,000 bike.
So, as much as I enjoy fixing up older bikes, if I needed ONE reliable bike, a bike that my bike shop will have spare parts in-stock when I need them, a new bike is often the cheapest and most dependable solution.