My first new bike must have been around 14, after I killed the hand me down from my brother, after falling on my side going down a steep hill from school (Quarry Lane in Exeter for anyone who knows it), and slid into a kerb. The result was a broken frame, which I limped away from. It did get replaced by a new blue 3-speed BSO from Halfords. I had that bike for at least eight years all the way through College and University, before I sold it to a flatmate, since I'd bought myself a Harry Quinn Tourer.
It's amusing that I remember the exact location of the accident which totalled the previous hand me down bike, but I can't really remember much about the bike which replaced it, other than it was an upright 3-speed. I think it was blue, but can't be certain of that. When I sold it, it was gold hammerite coloured, which I remember much more than it's original colour!
