Various views and opinions, and as per Mike’s point; I am considering doing likewise.
For me, it’s about value-for-money.
I have a Honda CR-V and it’s perfect for my wife’s needs, and mine. The AP was paid for from the sale of our previous car, so in effect is now expended.
The annual cost from PIP we don’t see, and now – don’t miss, which makes for convenient motoring in the ideal car.
As others have mentioned, there’s nothing on the scheme which we would want; and buying privately is (for me) a step backwards, and finding cash or taking a loan is not my choice. Also, reliability and maintenance are major factors; and getting just over 50mpg in a 4WD hybrid is a definite bonus.
The scheme now just seems to provide cars, but not the cars which customers need, want or can afford. I presume it’s easy to extend the lease – but what will the choices be in a few years time???