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I think bikes shouldn't necessarily cost a lot of money, however at the moment, the minimum spend on a bike that is road worthy and safe is around £300. Cheaper bikes are death traps.
Had a lady come in to get her Apollo junker fixed because the chain kept coming off. All I could do for her was either lock out a few gears to make it safer or educate her about safest way to use her rubbish gears (lock the gears by using persuasion)
What do you think should be the minimum price of a bike to ensure those that don't take cycling seriously enough are excluded from the activity? £500? £1000?