I didn't realize that we were effectively paying the balloon payment every month. Learn something new every day! /s
It possibly would have worked out cheaper on pcp, but with hp you know you don't need to be saving that money every month and worrying if you fall behind. It goes out automatically every month and that's that done.
We own our 500 now and aside from 60 quid or so for bits for a service and about 250 for winter tyres in a few months, it's not cost anything aside from running costs.
If it suits someone then great, but don't try to make our that it's the cheapest or most sensible thing for everyone