A new bike is an expensive investment and not one that should be made without a good deal of thought. If you’re considering trading in your old model for a bright and shiny upgrade, then follow these top tips for a successful purchase.

Set a price to suit your needs: Depending on your needs and preferences, a new bike could cost you anything from a hundred to ten thousand pounds. Set a budget to suit your means, but make sure that you’re not unrealistic - if you want a mountain bike with full suspension then a limit of $300 isn’t going to get you very far.

Pay attention to detail: It’s easy to be drawn in by a smart frame and a flashy suspension, but before you buy to make sure you also consider the bike’s minor components. Pay particular attention to the quality of the gears, the brakes, crank arms, gear shifters, and pedals. You should also inquire about the warranty and the conditions of sale.

Hunt for deals: Never merely opt for the first proper sale you find - when buying a bike, it’s essential to shop around. Many outlets will drop their prices over the autumn and winter when fewer customers are buying, and old stock needs to be cleared. Bear in mind that the only difference between last year’s models and the brand new versions may be a different paint job, so it’s certainly worth having a hunt through old stock.

Financing your purchase: For many, paying for a brand new bike upfront just isn’t realistic. If you’re considering taking out finance then be sure to check out the different options on offer - interest prices can vary by up to ten percent, so it does pay to find a low-cost provider. See what rates high street banks such as Santander are offering on loans, as well as the finance deals provided by bike retailers.

Finally, it’s a good idea to test a bike before you buy. Always try out some different models, and choose the one that feels right to you rather than the ‘latest thing.’ A good bike should last you for many years, so you can afford to take your time over the purchasing process.