If your budget is limited to $200 you might end up having to buy used. If that is the case you will really need to do your homework so that you can find a bike that fits as well as well a bike that is in good working order. That can be tough. Penny mentioned a number of brands that are good.
So, you are 5'3". What is your inseam, from crotch to floor? Here is how to measure your inseam:
Stand against a wall wearing your cycling gear, but without shoes. Place a ruler or book spine firmly at your crotch, simulating the pressure of a bike saddle. Have a friend measure the distance from the floor to the top of the book or ruler. This is your inseam length.
http://www.trails.com/how_1082_measu...#ixzz1lvVp1KTbhttp://www.trails.com/how_1082_measu...-bike-fit.html This measure will start to give you a rough idea of frame sizes to look at.
Reach is also important: do you have a short torso, long torso, short or long arms? That will effect what size of bike is comfortable for you. And whether you are better suited to a women's specific design or a more unisex design.
These are just starting points, the gathering of information. I know that it is best to spend a bit more if you can and go to a bike shop. But I also know that isn't always possible so if you work at educating yourself on bikes and bike geometry you may be able to get something that works for you as you get started.
Now, for what it is worth, I have a friend who is your height. She has a Trek FX and she got the 17 inch frame. I don't know how long her legs are and whether what would work for her would work for you.
Last edited by goldfinch; 02-09-2012 at 01:32 PM.
Trek Madone 4.7 WSD
Cannondale Quick4
1969 Schwinn Collegiate, original owner
Terry Classic
Richard Feynman: “The first principle is that you must not fool yourself and you are the easiest person to fool.”