>>1208499you don't have to lie OP and claim you have a 4k bike that is just lying around.
It's ok to admit you bought a schwinn varsity with a rusty chain and tire rot on CL.
1) replace chain and lubricate (15)
2) replace tires (20-30 dollar each tires are fine) and innertubes (5 each)
3) remove quick change skewers, rub with sandpaper if surface rusty (or replace, $10) then lube.
4) take seatpost clamp screw (if it doesn't have a quick change seatpost) and break the rust seal using PB Blaster if stuck. Lube the seatpost. Unscrew and screw back in the seatpost screw. making sure not to screw it in too hard.
or just take it to a good shop for a bike tuneup. they are good at lubing everything up and they have 20 dollar tires in stock.
An old bike tuneup is 50-75 which means with new tires it'll be about 100 to get it perfect and not have to do shit.
Bike shops realize people bringing in old schwinns aren't Freds and charge more reasonable prices to keep you in the sport (and coming back to their shop when you want a $750 entry level roadbike next year)