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I got "spend the money" advice. I bought a used mountain bike off Craigslist for $80 2-3 years ago and it's stood up to incredible abuse without ever crapping out on me. Not only do I often take it to work and the gym, but I occasionally toss it in the back of the Eclipse and take it up into the Santa Cruz mountains for the day. All I've ever had to do was realign the rims a few times and replace the tubes all the time.
I could have been lucky, I dunno. Still, the best $80 I've ever spent.
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