What do you call cheap?
I got my old Velo at
Marktplatz UniBasel. Bought it for 70 CHF and started by spending 60 franks in a repair that didn't even last long. Did last me for 1 1/2 year though, witch must be pretty good for this money, but guess I have spent round 200 franks in repairs and it never really worked properly (gears & light never worked, and later the breaks gave in). So total cost for this Velo has been close to 300 franks.
Now I just bought a new one, in Migros, the cheapest one for 345 franks and am super happy to have all functionalities fully working. If it last me for more than 2 years I think I did a good deal here. And I do have warranty for the next 2 years, so how can it go wrong?