Here in Germany you can get a second hand bike for free. In the UK I used to be able to get one for about 50£...My current one is quite fancy, and I got it for 180€, so I don't think it's impossible to find it cheap and good.
The usual warning is not to buy a new one in the supermarket for those prices, as what you get might be worse than not having a bike
That's great! I wish it were like that here in the U.S. Bike culture is trampled by car culture here.