Cheap 'no name' bike - worth fixing?

[alsoknownasDean]

A number of years ago, I bought a cheap 'no name' mountain bike off eBay for $30. I suspect it wouldn't have retailed at more than $150 new (and probably from somewhere like Kmart), and it would have been a good ten or fifteen years old. A while later, I decided I enjoyed cycling again, and bought a brand new Avanti hybrid bike. The old mountain bike I took to my parents' place (in a small country town), and left it there.

Now that I've got no car and the public transport at my parents' place is poor (especially on weekends), I'm thinking about getting the bike going again for trips around their town when I'm down there (usually one weekend in three).

Thing is, the old bike had a few issues with changing gears (it was a bit of a hassle to change gears correctly) and the front wheel wobbled a fair bit.

I guess I'm tossing up between trying to fix it (although bike shops tend to only stock parts for decent bikes), or seeing if I can find another better quality bike on eBay/Gumtree for $50 or less.

What's everyone else think? Would I have much luck on eBay finding parts for a cheapo mountain bike (of which I don't know the manufacturer or any model)? Would I be able to fix the wheel and just get away with a new chain?

[GuitarStv]

Not worth spending money on for replacement parts, but probably worth learning to adjust the derailleur and to try trying the rim with a spoke wrench.  You might be able to cannibalize some stuff from old bikes at the dump if replacement parts are really necessary.  A quality bike is going to cost you a couple hundred even used, but it's worth the up front cost to have something reliable to get around on.  I'd try to get the bike you own fixed up and rideable while saving up / looking around for a nicer one ( often they're cheapest in the fall and winter). 

[alsoknownasDean]

Not worth spending money on for replacement parts, but probably worth learning to adjust the derailleur and to try trying the rim with a spoke wrench.  You might be able to cannibalize some stuff from old bikes at the dump if replacement parts are really necessary.  A quality bike is going to cost you a couple hundred even used, but it's worth the up front cost to have something reliable to get around on.  I'd try to get the bike you own fixed up and rideable while saving up / looking around for a nicer one ( often they're cheapest in the fall and winter).

That sounds like a good plan, thanks. I'll definitely have a go at fixing the rim. It's the main thing I'd be concerned about really, but considering how rarely it'll get ridden, getting it to 'good enough' should be fine.

With the chain, should I try taking it off and cleaning it up/soaking it in oil? I suspect it hasn't seen much maintenance since the bike left the factory.

I bought my main bike in August (winter here), just as the new year's models were being released. I managed to get a pretty decent deal on it. :)

[ChrisLansing]

Many of those cheap bikes were not really made to be repaired.   If you like DIY projects you can probably find junkyard parts and watch youtube videos and fix the bike.   If you can't true the wheel well enough to ride it, then it's time to pitch it and get another $30 bike.   

I've always had good luck buying and rebuilding Raleigh and other English 3spds.    Not many gears, but very durable bikes.    You can pick one up in working condition for less than $100.    Solid well made bikes.   Again, not much in the way of gears so if you have a lot of hills, not maybe the best option.