RE: Newbie question?
CB’s don’t require a lot of maintenance. Of course there is always a possibility of something breaking, but for the most part you need to wax the string, lube the rail and maybe change the string. I just put a new string on my Horton after 8-9 years and the proshop that did it said I did not need one.
Don’t forget the sight. You can use the old pin and peep system which actually works just fine, but you may want to consider a scope.
Also don’t forget broadheads. You may want to consider non-replaceable blades that you can sharpen – like Montec or Snuffers.
Considering your long term investment your goal of $150 is pretty unrealistic. You may be able to find a used CB for that, but you need more stuff.