My partner has a BMW on pcp. He's very into cars and likes having the option to change it at the end of the period. The services are handy too. Also, we're at a life stage where our car needs change every few years. He's the main driver so his car needs to fit our lifestyle. We couldn't afford to pay outright for a new car every few years so PCP makes sense as long as we make sure the monthly payment is in our budget. I consider it renting a car, basically. We could buy cheaper cars outright but driving is his hobby so he'd rather pay a bit more and always have a car he loves driving.

I'm not interested in cars at all and would keep the same car for as long as it ran. The cars I want are practical for any life stage. So for me, buying on HP, a bank loan or cash would make more sense.