Personal Contract Hire - is it a good idea?

According to various websites PCH - Personal Contract Car Hire - is becoming very popular. This prompted me to have a bit of an investigate into it.

What is it PCH?
It's a finance solution where you pay a deposit up front, and then monthly payments for terms between 1 and 4 years.  It is basically an extended rental agreement, the car will never be yours. It's cheaper than other finance options, and you get to drive a brand new car of your choice.  There are also options to pay a little extra to cover servicing etc so you know how much everything will cost.  Road tax is also included. After the term, you give the car back and set up another PCH for another car.

Does it save you money?
This really depends on what your current arrangement is, and how much you use your car.  This option tends to save money compared to a standard finance package.  If you are not bothered whether the car will be yours, and you want to drive brand new cars all the time - then this is the option for you.  If you are used to buying used or new cars using savings, then this will potentially be a more expensive option.

An example PCH deal: 

An Aston Martin could be yours to drive for an initial £5,000 payment, plus £1500 per month (ex Vat)!  Now that has to be cheaper than buying one.. but, would you want to give it back after 4 years !!!?