Not sure what you can get for £500. If you want new I'd take a look at the bigger retailers Evans and the like and see if you can one of last years models at a discounted price, around this time of year all the companies tend to bring out their 2015 bikes (hence 2014 will be last years). In terms of geometry, components etc I'd have thought they are likely to be pretty much the same. I'd tend to stick with one of the well known brands at this price point. For reviews try www.bikeradar.com Other kit, cycling shorts, clip in shoes, helmet (let's have a for and against debate), gloves, lights, water bottle, water bottle cage and don't forget to carry a pump, tube patches, tyre levers. oh and if its cold your need a cycling gilet or jacket.