Yes and as Ronald says "I'm loving it^(TM)"

I've got ours on pcp it works well if you select a good mileage. 

Correct me if I'm wrong (and I'm sure one of the helpful dealers on here will) but mileage still has an affect if you use the car as a part exchange...

Say for instance you said at the start of your 3 year agreement you would do 6,000 a year.  3 years down the line the car has done 36,000 (you didn't realise how much fun it would be), the remaining value (or part-ex figure) would be less than predicted and thus not worth as much??

**listens to the dealer rubbing his hands together at the prospect of an extra £1080 in fees**

You are after all entering into a legally binding contract...

I stand corrected, don't need to pay excess mileage unless giving back. Part ex price is just lower.

To answer your original question Ginger, there is a reason that 80% of Ford new car buyers use a PCP to fund their new vehicle, it works

That's a bit unfair ginger, he was trying to provide you with help.

You need to think of if you want to keep the car after the term, if so, pcp is probably not for you and personal loan is better.

I tend not to want to keep the car and use the equity to buy a newer one so personal loan would not work for me as well.

You would say that you are a dealer!!!!!

Nope, just stating the facts.

Re: pcp. Who owns the car?
What about insurance if not owned?
I take it if the second payment is made, the car is then yours?
If at the end of the 2 year 50/50 deal you decide to take a new car, how much money changes hands?

In answer to the question of someone who deserves an answer,
The car belongs to FGA Capital until you have completely finished the agreement i.e. made the last payment.
Insurance is not a problem because the log book is in your name.
If you decide to make the second payment in 2 years then the car is 100% yours.
The final question is the interesting one.
Whilst this is being touted as a 50-50 deal it isn't just the price of the car split down the middle. FGA capital will work out what they think the minimum future value of the car will be in 2 years based on the mileage that you tell them. If the mileage is sensible (6-12K per year) the the minimum future value will be between 45-50% of the cars initial cost.
Based on todays figures, a 2 year old Abarth is worth more than half the original cost so there is equity in the vehicle (the car is worth more than the outstanding finance), that money can be carried forward into your next car as deposit thus lowering the price of your next new car.