Author Topic: Found a decent cheap bike. Should I sell the fancy one?  (Read 5529 times)

kevin78

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Found a decent cheap bike. Should I sell the fancy one?
« on: June 01, 2013, 04:58:00 PM »
Last year I decided to go and spend $800 on a nice Fuji road bike.  However, I'm going to start biking to work in a few months when I move closer to work. I love riding the Fuji but I wanted a cheaper bike to ride around and not worry about it getting stolen.  I found a Schwinn at Target for $259 and its surprisingly decent.  Full aluminum frame, low end Shimano parts on the drivetrain, 700c wheels, full quick release.  Looks like a bike shop bike but its from Target.  In true mustachian fashion I opened a Target card to get 5% off.   I won't use it ever again most likely so I'd think it will increase my credit score since I have no CC debt and that will make my utilization % even lower (don't really care about credit score until I go to buy a house in a few years).  By the way, this idea is inspired from the No More Harvard Debt guy.  He sold his Fuji road bike so I feel like I should to.  I don't make as much money as he does either.

I have a HUGE DEBT EMERGENCY due to a $57000 student loan debt.  I've been slashing expenses so I can throw $1000+ at the debt each month.  Should I put the Fuji on craiglist?  I should be able to get at least $600 for it which would net me around $350 for savings.  I love riding it and would buy a similar bike again if I sold it in the future.  However I shouldn't have bought that bike.  I should have kept the cash in savings.  The cheap Schwinn doesn't ride nearly as good as the Fuji.  I don't think I would want to do a 50 mile ride with the Schwinn. 




gooki

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #1 on: June 01, 2013, 05:07:12 PM »
Sell the Fuji and pay off more debt. You can always buy it back on the used market (or a similar bike) in the future if you find you need one.

markstache

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #2 on: June 01, 2013, 08:32:36 PM »
I like to have two bikes so that if one has a problem I have a backup. Since I do maintenance myself this means I can be a little lazy but still have a bike to ride (my primary form of transport).

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #3 on: June 01, 2013, 08:43:28 PM »
I feel the same way about backups.  I've got a cannondale mountain bike stashed away as well so I'd be comfortable getting rid of the fuji (If I can go through with it)

smedleyb

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #4 on: June 01, 2013, 10:08:18 PM »
Kevin, do you own a car?

frompa

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #5 on: June 02, 2013, 04:24:27 AM »
I'd say keep the Fuji ... to do the best without a car, you need more than one bike, even assuming you do all your own maintenance. Excess car usage will cost you far more than the cash you can get for the second bike. And don't discount the fun factor. You said several times how much you like the fuji.  Keep it,dude, and enjoy it.

cambridgecyclist

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #6 on: June 02, 2013, 06:23:29 AM »
I would sell *both* bicycles and buy a used touring bicycle from around the 1980s that fits properly. This should cost under $200, be less expensive to maintain than the Fuji, won't be a high theft target, should fit as well or better than the Fuji, and will certainly last a long time.

Department store bicycles have a way of disintegrating quickly. You'll want fenders and a rack; touring bikes either have these already or have the mounting points for these accessories. They are also built for comfort and durability, both characteristics that a daily commuter should have.

Finally, trade that cable lock in for a high quality U-lock! Cable locks are very easy to cut through.

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #7 on: June 02, 2013, 06:34:37 AM »
I do own a car, however I am planning to not have to use it every day once I can move closer to work.  Its a 01 saturn with a 4 cyl so its about as cheap as can be.

Thanks guys, all good points.  I guess the good thing is that I'm not forced to do anything right now.
« Last Edit: June 02, 2013, 06:37:57 AM by kevin78 »

PantsOnFire

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #8 on: June 02, 2013, 07:53:16 AM »
If I were you, I'd return the Schwinn and keep the Fuji, or do what cambridgecyclist recommends and find a true do-it-all bike to replace both!  The Schwinn was a bad buy no matter how you look at it.  You have debt that needs to be resolved and instead of going to the thrift store or checking craigslist, you bought a NEW bike for $259 (minus 5%! yay!) that will be worth maybe $75 at the end of the year and will bleed another $100-150 in component replacements over the next year because they are, unfortunately, crap. 

This smacks of an impulse/convenience purchase.  How long did you spend researching your purchase? 

Get rid of the Schwinn, and get something that will last.  You can find a better quality bike, better suited to your needs, for half of what you spent on the Schwinn.  And you won't have to replace it two years down the line. 

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #9 on: June 02, 2013, 08:03:19 AM »
This smacks of an impulse/convenience purchase.  How long did you spend researching your purchase?   

I've been thinking the same thing all morning after riding it around the block and listening to the noisy drivetrain of the bike. 

Argh.  Maybe I'll take it back today. 

PantsOnFire

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #10 on: June 02, 2013, 08:24:52 AM »
One good thing about Target--they've never given me any grief when I return things. 

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #11 on: June 02, 2013, 09:32:52 AM »
Took it back.  Done.

Stupid me always buying things I don't need.  I decided I'm going to keep the bikes I have, enjoy them, and if I decide to get a cheap bike I'll buy it if and when I need it.  But not due to a vague "I think I might need it later this year" kind of thing.

Thanks all for your advice.

markstache

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #12 on: June 02, 2013, 10:35:54 AM »
Good for you! *high five* As a fellow bike-a-holic, I can understand the siren song of a new pair of wheels.

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #13 on: June 02, 2013, 10:52:56 AM »
Good for you! *high five* As a fellow bike-a-holic, I can understand the siren song of a new pair of wheels.

Thanks!  High 5 for sure!  The thing I knew but ignored is that hybrid bikes really don't do anything as well as a dedicated road or mountain bike.  I found I like to take the Canondale on the trails and have an awesome time and the road bike out in the country and it is great. 

The hybrids kind of come up short in both areas.

BlueMR2

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #14 on: June 02, 2013, 12:04:40 PM »
Since you're still in a debt emergency, I'd sell the less useful (although more fun) expensive one.

Backups are handy, at least in theory.  My "daily beater" bike is currently down until I can get a replacement chain.  Very annoying, but I have my nice road bike available as a backup.  Still, I'm not doing all the same trips anyways as the road bike just begs to be stolen...

cambridgecyclist

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #15 on: June 03, 2013, 11:25:20 AM »
Good job, kevin78!!

I noticed that you mentioned that hybrids are not great 'do it all' bikes and I agree. I'd like to highlight that touring bicycles aren't hybrids -- there are lots of different types of bicycles other than the mountain/hybrid/road bikes that are commonly sold new in bicycle shops -- and touring bikes are a different breed from all three. They aren't as popular, though, which is why they're not normally seen in bike shops, but there was a large resurgence in popularity in the 80s that resulted in a surplus of used touring bikes on the secondary market.

Best of luck, and safe riding!

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #16 on: June 09, 2013, 08:58:34 AM »
Well guys, I've thrown down the gauntlet.  The fuji is up for sale and the schwinn is gone as mentioned before.  I got a crap road bike from pawn shop for $130 that will suit my needs for commuting.  Time to get serious about all of this.

PantsOnFire

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #17 on: June 09, 2013, 11:46:23 AM »
Dude, you're rocking it.  And you've inspired me to sell off my extra road bike. 

kevin78

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #18 on: June 09, 2013, 12:25:59 PM »
Dude, you're rocking it.  And you've inspired me to sell off my extra road bike.

Hah, awesome!  Its painful no doubt.  But, I dropped off the road bike to get the thing tuned up and saw there are plenty of bikes to replace it when and if the time comes.  I'd rather have the cash right now because I'm going to have to move in a few months.

anastrophe

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Re: Found a decent cheap bike. Should I sell the fancy one?
« Reply #19 on: June 10, 2013, 09:29:54 AM »
Do it. There are a million bikes out there, let this one go, you can get a different one when the time comes.

(I have to do this too soon BTW, I have a Surly LHT I never ride and have sunk way too much in to. Must sell that bike this summer.)