I must admit I'm not a big fan of PCP deals. I would rather be in a position where at the end of the finance terms you own the car outright and you don't have a huge balloon payment hanging over your head. That's just my preference but I can appreciate the attractiveness of PCP
From my past experiences of buying a 2nd hand car on finance, I have always paid a car off and then immediately traded it in for something new so in effect have always had a monthly payment.
I don't really see the difference in paying a PCP every month for a new car and not actually owning it at the end of the term as I just trade it in and start again.
I would be paying the same monthly figure for a car a good few years older on normal car finance anyway so would rather have a brand new car at that kind of money.
It would be different if I paid my car off and then had a a couple of years of no payments but I'd be worried I'd get used to spending that money on something else and wouldn't be able to afford another car