@adoran2 I can understand brakes and cables etc wearing out but how else does a bike deteriorate. Does the frame rust or something?
@Miraz I paid £799 for it in 2014 but it will cost more than that to repair. It needs a new cassette, chain, chainring, bottom bracket, headset, wheels, bar tape, pedals, cables and brake calipers. The frame will wear out eventually too. When you add in the cost of the labour it makes more sense to invest in something new.