Originally Posted by lawleypop

Still better than walking. XD besides, someone could just be looking to be rid of one... Cheap doesn't necessarily mean bad condition. (just a lot of the time). I'm still gonna look for one around that price range.

No it'd actually be worse than walking. Bad bearings and trucks will just make your frustrated on sidewalks, so you'll end up carrying it as a fashion accessory.

I picked up an old 10 speed road bike for 100 and sunk in about the same amount in upgrades. Picking up old 10 speed bikes is, hands down, the best way to get a reliable and fast bike.
I put in new tubes and tires, scrapped the brake lines and put in new cables, replaced the brake pads, tuned the gearing, cleaned everything up, trashed the old fenders, trashed the old bike rack, and put in toe clips. I'll just need some new bar tape and it'll be a god tier beater for school.

Originally Posted by gcruz91

Check out Boyz Toyz (i think it's spelled like that) in downtown hamilton. Its a tiny shop filled with so many old bikes that you barely have room to walk around. You should go on a day that you have a lot of time on your hands so that you can really get a good look around. I'm SURE you can find a bike there around $50. I've seen one that was $30 once.

Awesome!

And even better is the MacCycle thing

I second Ali11, check out MaCycle!