Hey guys! I bought a bike a while ago for $60 and I'm just now getting into riding it a couple miles a day but I wanted to update it a bit. Primarily the brake levers and brakes themselves. I already but new handlebar tape, a chain, and tires on it. I don't even know what model or year it is but that it barely has the number 4130 on it and chicago on the front of the bike. Do you guys have any suggestions? I don't know much about bikes so I thought you guys could help!

Depending on your budget, start with new levers such as Cane Creek or Tectros. They are comfortable, not too expensive and provide great leverage for better stopping power. The only problem is you will need to unwrap and re-wrap your bars to make the change. New brake shoes will also help. Koolstops are considered by many to work very well. Try these two things before buying new calipers. Looks as if you have centerpull calipers. They should stop you as well as any.

Nice little bike ! Looks to me like a LeTour , probably 1983 . Have fun with it ! (tubing is 4130 cro-moly steel)

If your seat is that low the bike might be too big for you. I would repackage all the bearings with new grease.

+1 Assuming it is properly adjusted, seat slammed that low = bike frame too big. Fortunately, many riders have their seat posts too low, so yours may just need to be raised (google adjusting bicycle saddle height for more details).

+1 I would go with aero style levers, new cables and housings, before investing in new brake calipers.

isn't that already the smallest frame available? Look at the steering tube.

That's why I go with the MTB conversion for my wife. The other choice is a Terry.

My wife is 5'2" and rides a frame one size larger than that Schwinn. I'd be willing to bet the seat isn't adjusted correctly, if in fact it is .... he/she is one vertically impaired individual.

The seat clamp is also on backwards. The bolt should be behind the seatpost. Unless you have extremely short femurs, you will be better off sitting a little further back. As for the seat height, many new riders want to be able to touch the ground with their toes while sitting on the seat. OP, you will find that you can pedal and generate power more comfortably and efficiently if you adjust the seat so that your leg is slightly bent with the pedal at the bottom of the stroke and the ball of your foot centered on the pedal axle.

I tell buyers this all the time. My quote: "You don't ride a bicycle the way the Flintstones drove their cars. Saddle height is adjusted based on distance to the pedals, not the ground." If you can reach the ground while sitting on the saddle, its too low.

Maybe it's an adult "Skuut" bike?