My knackered old bike - to replace or repair?

I realise this is question might be difficult/impossible to answer without you having all the facts to hand BUT. I thought I'd post it anyway. Just for fun.posting.php?mode=post&f=40052#
I use a cheap sub £200 hybrid bike and take my kid to school on the back of it a couple of times a week.
The bike's knackered. It hasn't been treated well. The brakes are shot to pieces, the gears hardly work, everything is rusty and the wheels... actually the wheels are fine. But that's about it.
So my question is - bearing in mind that it's a cheap bike, would it be best to get it completely repaired/overhauled at an LBS? Or what about chucking it on ebay for £20 and just buying a new one?
Anyone else been in a similar situation? What do you reckon?
I use a cheap sub £200 hybrid bike and take my kid to school on the back of it a couple of times a week.
The bike's knackered. It hasn't been treated well. The brakes are shot to pieces, the gears hardly work, everything is rusty and the wheels... actually the wheels are fine. But that's about it.
So my question is - bearing in mind that it's a cheap bike, would it be best to get it completely repaired/overhauled at an LBS? Or what about chucking it on ebay for £20 and just buying a new one?
Anyone else been in a similar situation? What do you reckon?
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A complete set of cables, new brake blocks, degrease and clean the drivetrain.
How are the bearings? Nothing's terminal, but a new headset is probably a LBS job though you can do the bottom bracket yourself once you've got the right tools.
Or just buy a new one.
That was the bike that got me back into cycling so I'd say that it's a good place to start as you learn how to fix bits on the way so when you do get a decent bike you'll be able to maintain and upgrade it.
When I bust the frame I transferred most of the bits onto one of my son's bikes as an upgrade. Apart from having a rubbish Zoom fork that bottoms out over the smallest root or drop it's a nice bike to ride for non-trail centre stuff I actually prefer it to my Voodoo MTB (also Preloved and subsequently repaired) and if I have to take it into town and lock it up outside it's the bike of choice as at first glance it looks old, tatty and cheap and it wouldn't be a huge loss if it was pinched.
Deffo do the work yourself, its not hard, everything you need to know is on YouTube. It might not be actually worth fixing up an old BSO financially, but learning how to fix and set up bikes is a valuable skill which will save you money in the long run if you cycle regularly.
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