This is not strictly accurate.
PCP is a route to purchase (Personal Contract Purchase)
A nil deposit is not necessarily a nil deposit, it just means that the customer doesn't pay any deposit, the dealer may be paying into the deposit pool on the customers behalf (by way of discount) as a part of the deal.
As to whether there is a deposit at the other end, this is about residual value. If the vehicle is worth more than the amount outstanding at the end of the lease, the customer can sell the vehicle, pay off the finance and any equity remaining can be either pocketed or applied to a deposit on a new vehicle.
Hope this clarifys things
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