Safe to Buy Bike off Ebay?

Judging by your comment, "Plus, I'm only 5'8"...how long should the distance between my seat and handlebars be?", it seems that you have no idea what size of bike would fit you.  Before you buy a bike, whether on e-bay or in a bike shop, find out what size you need by getting fitted by a knowledgeable person.  It's no use buyin that "bargain of a lifetime" bike if it does not fit you.

As for buying on e-bay, remember the old saying "let the buyer beware!"  Do the research on each seller to ensure that the deal you are looking at is not a scam.  And, make whatever payment through paypal or some other such device.

Wow! It was really nice of your dad to buy you a bike! It's cool that he listens to you enough to know what you're really interested in, even if his attempt at a gift was a tiny bit misguided.

I bought my road bike on eBay. Cannondale R800 with Ultegra components for about $350. I'm really happy with it. I agree with the recommendations to go with a highly rated seller, and there's an option for sellers to use some sort of guarantee through PayPal -- I haven't bought anything in awhile so I don't remember exactly how it works, but it appears as an icon next to their PayPal icon in their sale listing. You can read about it on the eBay website. If the seller has opted for that, it provides an extra level of insurance for both of you.

Safe? With due diligence and checking into how reputable a seller is and ensuring you leave a paper trail in case you need to file a claim (happened to me, got burned selling) it can be a haven for true deals.

Bought my bike through eBay 2 months ago, paying less than 1/2 of what it would have retailed for and saved more by arranging pickup instead of having it shipped. Make sure you check the shipping charges and get a quote before you bid, and be sure to ask lots of questions before bidding.

BTW how about more info on this 'POS' - it might be worthwhile swapping out a few parts and/or adding equipment on a lower end new bike, or even just leaving it as is for this season before taking the plunge and investing in a higher-end bike...and it really does become an investment, with the amount of money you can easily sink into a primo ride.

Being 'low on dough', it might just be a matter of just sucking it up and making do this year.

I bought my first tri bike (QR Tequilo) off of e-bay for $700.  It was a 2001 that was purported to have 700 miles on it.

Well the bad news is that it didn't have 700 miles as I had to replace the bottom bracket and chain.

The good news was that's all I had to replace as the cassette was fine and it fit well...did fit research prior to purchasing.  The other good news is that it was an AWESOME bike and very light (17lbs race weight) and aero and it served me well.  Since I spent just a little $$$ on the bike I was able to buy zipp 404s used on e-bay for $750.

My zipp 404s worked out nicely.  I had to replace a spoke as I broke on on a 1/2 IM race I did (luckily had duct tape wrapped around my seat post that came in handy for the quick fix on the race course....<25 sec) but that's quite common I've come to understand with zipp 404s on bumpy roads and is a VERY cheap and easy fix.

All in all, I feel that the benefits (less $$$ spent) outweight the risks (getting scammed) if you ask questions first, bid later, and purchase from someone with reputable feedback.