RepositoryHosting.com, $6/month, unlimited repos, 2GB and $1 extra per GB
xp-dev.com $5/month 2GB
Try $15 a YEAR and 10-15 gigs disk space if you can set up your own git repository and web front end. See some low cost VPS hosting providers at http://www.lowendbox.com/
And no backups :) Just saying, having a low end VPS is not exactly the perfect solution
Well you have backups of the repositories on the local machine.