PCP vs Secondhand

I’m surprised Bike promotes Personal Contract Purchase (PCP) – June issue. Readers should know the Contract counts as debt and reduces the amount you can borrow in a mortgage. But I see the big downside being that it only works if your circumstances stay the same – you have the same bike, with the same annual mileage and the same monthly payments for the whole term. But lose your job/ have a baby/get injured and your financial circumstances will radically change, but the PCP remains. Andrew Blee, email