PCH isn't really debt it is rental, you just pay to use something. Putting cash into a depreciating asset isn't really a great idea, but many of us do it. Historically I too have always paid cash, from my company in the case of the Ampera, but it isn't always the best plan. It is easy to ignore that the £30K car you bought and traded in after 3 years for £15K (50% residual is not that unusual) cost £417 a month in depreciation. Obviously keeping longer reduces depreciation, but cost to change becomes very high. Yes, we have done well with low depreciation on EVs in recent years, but with cheaper ones on the horizon, that probably won't last.I struggle a bit with the concept of PCH and PCP, it's maybe a generational thing, I don't like debt.
For people who want a new car every 3 years, when you look at that £417 a month depreciation some PCH deals are difficult to argue against.