Hello everyone. I'm relatively new to biking and new to this forum so I apologize in advance for any etiquette violations I may have committed. Anyway, I recently responded to an ad for a '99 Cannondale SP300 selling for $300 with a trunk rack thrown in. The seller says he bought the bike new and took it out maybe a dozen times on a local jogging path before he lost interest and garaged it for ten years. I'm familiar with the area he rode it and, if he's telling the truth (I have no reason to believe he isn't), this bike has maybe 30-50 miles on it at most. I've been looking for a hybrid at a decent price for months now with no luck,and, from what I understand, Cannondale is a reputable brand, so the offer seems tempting.

I should specify that I do virtually all of my riding on either the road or a bike path, but I test drove a friend's road bike last summer and have neither the time, money, nor patience to become acclimated with that style of riding; a similar test drive on another friend's hybrid fared much better for me. I generally tool around on hilly country roads for stretches between 15 and 50 miles, and occasionally do multi-day trips. I've been riding a no-name mountain bike that a friend gave me after a Roadmaster I bought several years ago got to the point that it wasn't worth maintaining. As of yet, this bike, while shoddily constructed, has given me no major problems, and I had no trouble with it on a weekend trip that consisted of two leisurely-paced 60 mile days on a rail-trail.

So, I'd like to know, first, is this a reasonable deal, and if not, are there any suggestions as to what I should do? As a grad student, $300 is at the top of my price range for a bike, so any other suggestions would have to comply with that. I'm supposed to look at the bike this weekend, and would also like to know what I should bee looking for. Thanks in advance for your help.

Thats a great deal, pics please!

Impossible to say specifically without seeing the bike, but if it's in good shape and fits you, why not? Hybrids get a lot of criticism from purists, but I like them for general riding, and almost all riding by casual cyclists. They're comfortable, stable, sturdy and versatile, exactly what a general purpose bike should be.
Before you look at it, you might Google something like "bike fit" to get an idea of what size you need. It should shift cleanly, without hesitation, and the chain should run through the derailleurs without dragging or making much noise (if it doesn't, the fix is probably a minor adjustment, but it's something to look for). The brakes should work smoothly, without grabbing or squealing (again, usually a not-very-expensive fix if they don't). The wheels should rotate smoothly and quietly, and be straight, not wobbly, when you spin them. wobbles, too, are usually fairly easy to adjust out if there are no broken spokes.
You can probably expect to need new tires on a bike that age even if it hasn't been ridden at all--they get old and crack. And you may need new brake pads, about $15 at any bike shop. Squeeze the front brake and, with the wheel on the ground, push the bike back and forth to check for any play in the headset, the set of bearings that holds the front fork in the frame. You should feel none, and the fork should turn smoothly, with no notchiness or grumbling.
As for the price, i just don't know. I haven't bought a bike in three or four years, so I don't pay any attention to what used ones sell for.

The bike as you describe sounds like a great deal. Whether its the right one for you, thats hard to say, but if you think it is, I'd grab it up quick.

Make sure it fits you first. A poor fitting bicycle is not a good deal, no matter how cheap you get it.

$300 for a 10 year old hybrid would mildly concern me if it hasn't been recently tuned.

To me, a bike is worth about 1/2 of its original retail value at that age, if it is ready to ride with fairly fresh tires. The reduction in value from new is due to some wear, but also older technology and the lack of warranty and shop support.

If it is in need of a tune/tires etc, I would try to talk the seller down to an amount low enough to allow you to get the bike ready to ride within your budget. Some earlier posts pointed out the obvious areas of interest. Tires, brake pads, and solidified grease are potential issues even if the bike has never been abused, but only stored for a long time.

Another point, quick research seems to show the SP300 may come with a head shock... I don't know if those are prone to things like dried seals etc, but if someone knows, that is something else you may have to consider. If the Cannondale headshock is simply a spring, you are probably ok.

If it is in good enough shape that you can get it ready to ride within your budget, and it is the right size for you, then you are probably going to be happy with it.