I've recently moved over here from London with the girlfriend (who is from Vancouver originally). Depending on what kind of bike you want, there are a few places to look. Craigslist always seems to have stuff - but you won't save much money on a track bike if that's what you're looking for.
Because they've totally fallen from fashion, you can pick up a nice 1990s / early 2000s mountain bike for very little, between $50 and $200 ($200 will get you quite a lot of 90's steel MTB).
I brought my own Gazelle road bike over from london, but am on the lookout for a mountain bike to mess about on as there are some really nice trails here; mostly in North Vancouver, but also some off-road sections around stanley park and other parts of the waterfront (have never seriously mountain biked, and have no illusions of being successful, but would be nice to mess around and worry less about breaking things).
Even if you don't end up doing much off-road, I feel like a steel/rigid mountain bike is great value all-rounder - they are so ubiquitous here that they're less likely to attract the attention of bike thieves, than say a 'fixie gear bike'. Especially when you lock up outside that cool new bar that's next door to that crack-hotel on East Hastings St (it might happen one day...).
I'm also planning on using a mountain bike for some light touring on vancouver island / sunshine coast, which might be something you want to think about (the scenery is pretty incredible here, would be a shame not to do some longer rides).
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