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one who allows his bicycle to fall in disrepair, and whose bicycle invariably fails him at some point in every ride. These people don't know why their bicycle always breaks, and often would rather buy new parts than keep their bicycle in good condition.

Term may be used to describe other gear items, not limited to bicycles.
"Fred is such a cockrotter, his bike never works when we ride"

"Betty just let all her skiis cockrott away"
by OliveTheDog August 30, 2011