I thought the only way out of a PCP was VT?
I know we talked about it on here before, but I did my maths on my own PCP deal the other day and basically, I could get out of it one month earlier out of 36 months... which probably is worth it if I can dodge some extra costs as well as a month's payment.
Anyway, yes, they will want any warning lights resolved and any visible damage fixed - but they'll want that doing regardless - you'd have had to have done it at the end anyway.
Definitely ask for the documentation on returning vehicle condition - because you might find some things you'd not be happy with, they will and vice versa.