Do any of you know anything about bikes or bike repair?

I recently bought a POS bike off of craigslist for about $30 just for getting around campus but it is giving me a buttload of problems.

As far as I can tell, it has a bent dérailleur, a bent freewheel, and I think the entire back wheel is a bit bent as well. I would be willing to put a bit more money into the bike to get it in good working order since I paid so little for it, but I don't know if it is just going to cause me more problems in the long run.

Anyway, I'd appreciate any advice you have. Thanks!

I'd take it to a bike repair shop, they're fairly common in large cities (or at least, they exist in large cities). I doubt anyone can give you a good assessment over the internet :(.

I am not that knowledgeable when it comes to bikes, but feel free to check out bikeforums.net the people on there really know what they are talking about.

Most likely, those parts will need to be replaced. I agree that taking it to a local shop will be your best bet, but keep in mind that many bike shops won't work on a bike that came from a big-box store. Not saying this one did, just that you may want to call and ask before hauling it down there. Either way, they should be able to help you select replacement parts and offer some guidance.

Another great place to get cheap bikes are police auctions. Lots of bikes get stolen, particularly in college towns, and few are reported or claimed, so most departments hold annual auctions to sell them off.