At first the range of different types of bike available can be very confusing, especially when you have never ridden a recumbent before. The important issues that you need to consider are your own riding style, what you expect to use the bike for and how important performance is to you. To make things simpler, the first things to look at are the height of the seat, the height of the pedals and the relationship between them.
High seat/low pedals.
This type of bike makes an ideal town bike, as it is the easiest to get on and off, very manouvreable, gives and excellent riding position for seeing and being seen and still give lots of luggage capacity. They are also good for leasurely country rides, with a very relaxed and easy riding position and some potential for use on tracks and bridleways. However they lack any real aerodynamic advantage over a conventional bike. and the more upright riding position puts more pressure on you backside than a more reclined seat
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High seat/high pedals.
Many people buying their first recumbent are attracted to this type of machine as they are very comfortable, accessable and can carry loads of luggage, with room for two full sized panniers on the rack behind the seat and two more in the space under the seat. That still leaves the top of the rack free for more stuff! They are quite easy to ride as long as your legs can comfortably reach the ground, and they are quite aerodynamic when not loaded up. They are ideal commuters and long distance tourers.
Advantages
Disadvantages
Low seat/high pedals.
A bike with a low seat tends to have relatively high pedals, although there is some variation between bikes. These bikes can be very comfortable for touring as your back is completely supported, but they are not purpose designed for the job, so there may be less luggage capacity. You may need to buy specially designed recumbent bags which have a big capacity and an aerodynamic profile. These bikes also tend to be long, especially if there is a full sized back wheel which has to be positioned behind the seat rather than under it. Getting on and off (in and out?) can be more difficult, especially when loaded. The main advantage is the incredible increase in performance, what you have is a bike that can sustain high speeds in great comfort over many hours of riding, perfect for for fast day rides or ambitious journeys. You can even be competitive in the big races!
Advantages
Disadvantages