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For me it was low deposit (£1500), good discount and low APR over 3 years which gave a reasonable monthly payment. At the end I'll happily hand it back. Any equity towards another car is just a bonus.
I've been doing this for 10+ years since giving up a company car, normally I aim for 2 years if I can. I've also had cars on personal contract hire and really have no preference between the two. PCP gives more flexibility.
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