Should I trade iPhone 4s for a Schwinn 700cc bike?

Someone is offering me a brand new Schwinn men's 700cc bike as a trade for my old iPhone 4s. Is this a good trade for me?

Depends. Do you ride bikes?

The term "cc" refers to Cubic Centimeters - an engine size. 700c refers to the size of a tire - not a bike. Lots of Schwinn bikes have 700c size tires. Which EXACT Schwinn bike? One from a REAL bike shop or one from a discount store? Avoid anything sold through Kmart, Target or Walmart - or online through Amazon.com.

Doubt that Schwinn ever made any 700cc bikes. They made bicycles, not motorcycles. 700cc is an indication of engine displacement, not wheel size
EDIT: if this:
http://www.ebay.com/...1387640230
is the bike, it is a low quality discount store type bike. These bikes depreciate very quickly, a used one is worth a small fraction of the price of a new one

Old Schwinn aka before 1990 bikes were of good quality. The new ones are pretty bad and not worth buying. The brand has been beyond watered down and lacks merit at this point and time

So no, an old phone for a back up is more valuable than a new Schwinn