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@ChasnotRobert
PCP seems like quite a good product to me. So much so, that I've taken one out.
The maths says that my previous strategy was cheaper overall, but it meant owning a car from year 3/4 to year 7/8 rather than from year 0 to year 4 (although I might change my mind at year 4 and decide to carry on owning the car).
The PCP will work out approx £2k per year more, but for that I am driving around in a slightly nicer, newer car that is also fully under warranty so scope for unexpected costs is pretty limited.
Yes, lots of people will enter into these things without really being able to afford it but the same thing happens all the time with all other forms of credit.