With bikes, there's a knowledge premium built into the price: very simply, to reduce the price of the bike (type) you want, learn about it. The more you learn, the lower the price gets (to a point). If you want to stretch your money as far as possible, then cultivate a friend who is a bike guru or become one yourself- and familiarize yourself with components, upgrades etc. that you can snipe. I had my crazy mechanic friend score some TIME ATAC pedals, cleats, and nice riding gloves for me- for $40. You can sometimes score a great deal on a frame and a few components, and a couple hundred dollars more saves several off a comparably priced bike. If you don't learn, you pay a knowledge premium for people to know what to do/adjust for you. Otherwise, if you buy below a certain price, you get a bike that literally isn't worth the price to repair at a mechanic...
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