What To Look For
Both Cannondale and Trek offer plenty of models and options for the modern cyclist. Whether you're a bike messenger, a casual urban cyclist, a mountain trail pounder or a triathlete, you should be able to find a bike to meet your needs.
Look for a frame that fits your needs and compare material, weight, size and type of frame. Some kinds of riding call for a tall, carbon fiber, featherweight road bike and other kinds require a medium-height, reinforced aluminum frame that can take a pounding.
After you find the right frame, your needs should largely dictate what else you need: gears and gear ratios, accessories, wheels and tires.
Common Pitfalls
You shouldn't buy a bicycle without taking it for a spin anymore than you should buy shoes without trying them on. Any reputable bicycle shop will let you take a test drive, because just standing on top of a bicycle won't tell you anything about how comfortable it will be in the long run. Have the bike professionally adjusted to your body as well, because having a properly sized frame with a seat at the wrong height can be as bad as having a bike that doesn't fit you at all.
Where To Buy
Both companies offer bike pricing on their websites as a guide, but neither sell online. Both will refer you to local dealers if you want to purchase one of their products. Trek has wide distribution with independent retailers but shies away from big-box stores. Cannondale is available at a number of independent retailers but can also reliably be found at REI.
Cost
According to 2010 catalog prices, both bike manufacturers offer an entry-level road bike for less than $1,000. Trek has the T1, with a suggested retail of $819 and Cannondale's alternative was the CAAD8 with a suggested tag price of $899.
Both brands offer extensive bike varieties for every need, including custom models, so it's possible to spend more than $5,000 or even $10,000 if you want to.
Accessories
A bike lock is essential to maintaining your investment, and the more reputable ones offer a guarantee and insurance against theft. A bicycle helmet and lights are legal requirements in many markets and are a prudent safety investment regardless.