As well as locking it up properly I'm convinced that if you buy a new bike you can make it less desirable/nickable if you make it look less shiny and new. I always get some sandpaper and give the paintwork a good rub down or you could go very Blue Peter and personalise it with spray paint/stickers, anything to make it less sellable and so less nickable. Nobody wants to steal an ugly seat either even though ugly is usually more comfy.
This is why I got a folding Brompton and no lock. I'm not leaving it locked up anywhere! (I'm lucky, though, that it goes easily into my elevator without having to be folded.)
Thanks for all the tips guys, especially Mick, as I've taken your advice and gone for a folding bike. The thieving b*st*rds wont be getting any more freebies from me!
It's a Bike-in-a-Bag" which, I think retails at around £250. I have photos at home which I can post later when I find the model number( if any.)
PM me if this is getting too ebay ;)
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