Thinking about PCP + what car question...

[crazy about cars]

Just want to hear more opinion on this. I currently have my car on a 5 year finance deal paying around £430/month including Payment protection. The APR is around 12.8% which is a bit high but it does give me the option of repaying at a monthly amount I'm comfortable with without having to make a big payment at the end of contract.

I am quite happy with things at the moment except for a few niggles. One thing is that it's just out of warranty and a change of circumstances would mean the nearest dealership (or indie) would be a 180 mile round trip.

I've been chatting with a few people and they recommend going on a PCP deal due to the lower APR and also the opportunity to drive new cars (under warranty). It does sound great but the only one thing that bugs me about PCP is the balloon - basically I will have to cough up a large some of money at the end of contract or I will end up with no car at all. I also understand PCP agreement have much stricter policies compared to HP (no modding and also requirement of keeping the car pretty much mint).

So, should I just save up and try to settle my HP early or should I consider PCP? If I do go PCP what are my options? I have a settlement figure of £17500 that's valid until end of this month on my 59 plate GTR...