The times are harsh, economically, so everyone looks for the cheapest solution for everything. We are looking for a cheap house, car, clothes or pizza but as reality shoes "Good" and "Cheap" used together is an oxymoron there is no such animal. Maybe in future economy and society things will be different but till then a cheap mountain bicycle are ok for riding around the neighborhood, but it won't hold up to many jumps. You would be lucky to survive one downhill ride on a $300 bike.

cheap mountain bicycle are ok for riding around the neighborhood

If you are an occasional biker who assumes every mountain bike are the same, you’re in for a surprise every hill or downhill track is different and needs a good strong structure to hold the bumps and rough terrain.
If you are looking for a bike that is sturdy and fits into a 300$ budget, you might get lucky and find a used bike for $300 to $500 dollars but even then you would have to watch closely and be patient, most likely a used bike have been used up and need repairs so it might be better for you to save up your money and purchase a good bike when you have enough.

As Rhea Carlyn explains in her post published on livestrong.com:

"Cheap is a relative word but in this case: assume it means the least expensive bike that is the highest quality within those prices limits... Patented brakes and gear systems also add to the greatness and expense of many bikes. Consider what, of these options, is important and eliminate what isn't from your criteria. This brings the price down. "

Consider your needs

If you need your bike for commuting or for pleasure road rides, you don't need to purchase an expensive bicycle at all. You can find your way on a cheap mountain bicycle, used or new. In second thought you can find a good low cost commute bike or a simple single speed bicycle or a used low rider for a "cooler" ride. There are some good brands that can feet to a low budget purchase and once again I quote Carlyn's suggestions:

"Kawaski, Polaris and Schwinn all produce inexpensive, well-made mountain bikes. These bikes are for beginner and Intermediate Mountain bikers of all ages. Mongoose also makes great mountain bikes that are more expensive but still below average in price; about $375. Raleigh, Novara and Marin are brands of mountain bikes with excellent reputations and are available for under $480. These brands are available at a variety of retailers to include Walmart, REI, Target and many local bike shops."

You can find more useful information all around the net but if you are a bit lazy you can look here: Ebay, Calibex, Pronto.com, Nextag, craigslist

Good luck and a happy ride to you all.

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