We're thinking of the PCP finance route, anyone know anything about it? Recommend or avoid?
We want low monthly repayments.
You're in a dangerous position of getting conned by a shrewd salesperson - they love to talk in "low monthly cost" terms and hide admin fees, arrangement fees and the massive balloon payment at the end of the term. Always look at the total amount payable and the APR. Some salespeople are reluctant to give these numbers.
If you're talking PCP I'm assuming you're looking at brand new cars. Looking at your finances, do you think you can afford a brand new car plus interest? Remember that even if the numbers are prettied up with a low monthly cost, you're buying a brand new car and the (generally) thousands of pounds of depreciation that goes with it.
If no, why not go second hand (say a couple of years old)? In fundamental driving terms, there's nothing a brand new car will do (that the majority of people need) that a e.g. 3 year old car can't do. If you're concerned about warranty, Kia/Hyundai give 7 years; alternatively, the Japanese brands tend to be rock solid.
The danger with a low monthly payment PCP (especially if you've paid a lowish deposit too) is that you have a massive balloon payment at the end (remember to save the required amount if you want to keep up, or save up a deposit for a replacement) and you effectively lose the protection of a voluntary termination (after having paid 50% of the total amount financed including balloon payment, you can hand it back to the finance company and walk away).
If it has to be new, what about leasing? It's usually the cheapest way of getting into a new car. The main difference from PCP is that you're not going to have the option to pay off the car at the end and there's no voluntary termination option at all.