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Exactly there are always cars behind you. There shouldnt be no difference to the way you ride if u can hear a car come behind you, as you should always keep your space and not be weaving around everywhere. Whats the excuse once silent electric cars are rolled out?
Vision, common sense and spacial awareness is key. Oh and not headphones that COMPLETELY block out ambient noise.
Riding with headphones on isn't as bad as some make out. It's like driving with the stereo on in a car - if it's way too loud, you deserve all you get. Background noise / music is fine.
What if there's a car behind you? YOU'RE IN LONDON - THERE'S ALWAYS A CAR BEHIND YOU !!!
Not being able to hear the chav make a decision, probably won't drastically affeect what happens. If you have your wits about you, you should (touches wood) be ok.
That all said, it's definitely personal preference.