I am jonesing for a new bike. I've got a hybrid, which serves me well, but I am eager to own a better bike. I don't really need this new bike, so I've decided to show some discipline and save up for it (my wife's idea). $50 a month will go into the bike fund.

So here's the dilemna: I could save for a 3-8 months and find a nice used bike, or I could save for the next year or so and buy a new Kona Jake/Bianchi Volpe/Surly Crosscheck/something else when the time comes.

(somewhat) instant gratification versus delayed gratification?

Plan on buying new while scouring craigslist/ebay for good deals. That's what I did anyways (I ended up buying new, which I couldn't afford ).

I too have serious doubts about my self-discipline.

It hard to resist when you get bitten by the new bike bug. There is no right answer, but consider:

If you wait, presumably you'll be riding during that year so your current bike will be that much older and that much more in "need" of replacement ;-)

Secondly you'll get plenty of ride time in to really think through (and research) exactly what you want in a new bike so, when you finally get to that day you'll be getting your perfect bike. That is worth quite a bit I think, and worth the extra money.

Lastly, the time you spend saving may perhaps alllow you to snag the perfect deal on Craigs list or wherever, you never know. I guess I'm an advocate of spending a bit more for the perfect bike, but I understand the impulse, and inability to stop spending money on cycling stuff.

Also to consider is how you value "time with no bike" versus "time with crappy bike". If you would rather walk, bus, drive than be on a bike with anything less than Dura Ace components, wait. If not, I think a combination of the two might be good. Get that crappy Walmart special, or Craigslist find now. Keep it running for a year with just what you need to get you around safely. You might not be fast, might not be comfortable on the bike, but you will be getting excercise and saving money (if you are replacing the car) at that point you will be able to save more money into your dream bike account, and a year and a month later... voilā! New bike!

waaaiiit a minute there guy.... just checked some previous posts... would have helped me better formulate my post. You have a Trek 7.2 FX right? so you are pretty much fine for the moment right? That thing can do almost everything for commuting right? So why are you looking for a new one? Not that there is anything wrong with that, but if the Trek serves you fine for commuting, why not another one that serves a different function. Mountain bike or Racing Bike for example.

So what's Hawaii commuting like? Lucky guy...

Also consider rationalization.... for example, if you commute by bicycle often enough, and if you have a car that you are NOT using because of your commuting, you probably qualify for a substantial discount on your auto-insurance. When I had a car, my annual mileage was well below a threshold (i think it was 5000 miles/year or less) that saved several hundreds of dollars/year in premiums.

Now with all that money you are saving, the bike-of-dreams seems much more reasonable.

I have a real weakness for the "new bike bug". I think that is why I started to build my own bikes. When I first built my cross-check I started out using cannibalized parts from an old bike that I bought from a friend then I started upgrading the parts and pieces. It was like having new bike every time I got enough pieces to swap out, and I learned a great deal about doing my own wrenching also.

Then the next thing I knew I had enough parts and pieces to start another project...

It also helps that I have a very understanding wife that also likes cycling.

I've only ever been to the big island, but I would imagine that it's pretty rough, considering the roads generally aren't all that wide. Not to mention that you can't really go offroading in a lot of places unless you want to replace your tires every few miles. Then again, maybe it's totally different on Oahu...

Commuting in O'ahu is a pretty good deal. Yes, the roads are narrow, but motorists are generally accomodating and sane. The weather is very nice, although it does often shower in the morning near the mountains (you can head out in perfectly sunny weather and get seriously rained on 3 minutes later). My biggest complaint would be the condition of the roads themselves. Considering the total lack of a winter, I don't get why the roads are so torn up. I've heard that the rock used for asphalt here is volcanic and softer than what's found in most asphalt on the mainland. No idea if that's true or not, but I do know that many roads are in disrepair.

Use the time you are saving for the bike to zero in on exactly what you want. When the time comes, buy new if you can't find it used. Don't compromise. In the long run you'll spend less on bikes and be happier with what you have. Buying used to save money is a false economy if it isn't exactly what you want.
I'm going to be building a 29er. The questions I'm asking myself are... Steel or aluminum? Flat bar or drop bar? What color? Disk or rim brakes? Top tube length? Rigid or suspension fork? ...and lots more.
I won't buy until I know exactly what I want and I've already spent months thinking about it.

I found myself nickel-and-diming my next-bike-fund for upgrades to the current bike. But GeoKrpan is correct that time spent truly studying what you do and want will never be mis-spent. It's taken me ~3 yrs of commuting to zero in on what I think is exactly what I want. And then a little more time to scale it back to something I can afford/justify sans lotto/powerball..

I have a friend who has this philosophy about beer: What you are used to is what tastes good, so get used to cheap beer. I have the opposite philosophy: Because I don't drink very much beer, I drink the good stuff. So, it all comes down to what kind of a beer drinker, I mean bike rider, are you?

If you get something nice, it should keep the new bike bug away longer.

I just managed to resist buying a new bike, I was thinking of getting a Randonee at REI to supplement my cheap $300 hybrid which is rolling over 10,000 miles this week. But then I realized, I really don't need a new bike. I'm happy with what I have.
If I ever decide to do > 2 or 3 day tours, I'll think about a new bike. I'm 43 years old, I'm foolin' myself if I think I have any good use for a "fast" bike.

I actually go through this every spring. I get the bug for a new bike, and wander the shops. Then one weekend I clean and lube and adjust my bike, and after one ride I say "What the hell, there's nothing wrong with this bike!"

Friends keep telling me "but other bikes have so much better components!" What? The bike shifts into whatever gear I click it to instantly. The brakes modulate great and work great in the rain. What more do I want?"

I'm probably going to do the same I do for cars; see how long I can keep using the same old one.