A: It's not quite that clear-cut. You'll pay less each month, but that final payment is waiting in the wings. Overall, PCPs tend to work out slightly more expensive than HP when you look at the total amount to be repaid.
However, many independent PCP providers strike keen deals with their suppliers, and pass on these savings to the car buyer. In other words, you get a healthy discount on the car's list price with no need to haggle.