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My 1986 MBK needs around £150 to get it back on the road I only ever use it for occasional road spins Should I restore it or just spend an extra £100 and buy a new bike ?

I took my 1990 MBK Treker to my local bike shop to get the gear cassette removed as the teeth were worn. He said he never say anything like it and I would need to get a new wheel and cassette. Anyone got a picture of the tool I need ? Thanks.