Car appreciation... the aesthetics, the engineering, etc

No.

But why wouldn’t you just estimate accurately, pay a slightly higher monthly fee and a lower balloon? It’ll all come out the same in the end…

I understood you would be fined whatever cost per additional mile they set out in your contract, even if you were buying it out at the end.

That was the case when I bought a RS Clio trophy on pcp in 2016.

I've just paid the balloon payment on my PCP and can confirm that no shits were given about how many miles were on the car, or how many gates my wife had driven into.

For the record, 32,000 miles, one gate and one innocent bystander's car in the car park at the gym. Tbf to my wife, she did leave a note.

[Edit] it makes no sense that there would be a charge for excess mileage if you pay the balloon payment and keep the car. The mileage limit (as well as all the other clauses about fair wear and tear etc) are there purely to protect the "guaranteed minimum future value" in the event that you hand the car back.