I have seen a lot of bike deals on this site before which consist of bad components and a heavy steel frame. Here is a cheap bike with a nice aluminium frame and half decent components.
Muddyfox Spark Tech Spec
> Lightweight Alloy Hardtail Frame
> Zoom Front Suspension Forks - 50mm Travel
> 21 Speed Shimano Acera Gears with Revoshift shifters
> Front and Rear Promax Alloy V-Brakes
> 26 Inch Alloy Wheels, Front Quick Release