As first time visitors to Mexico City, we wanted bikes to spend a day seeing as much as possible…read more For only 400 pesos (about $20) we rented two bikes and a lock for an ENTIRE day. My Spanish is ok at best and it was quick and easy, we were in and out in five minutes. Pay up front and simply leave a driver's license as collateral. Would recommend if you want to explore the massive Bosque de Chapultepec nearby, there's no way to truly see it otherwise.
Easy to find, great location in a great neighborhood. Don't expect a smooth-shifting $1000 road bike but it's better than the heavy bike-share bikes in U.S. cities and always better to support an independent bike shop.