- Porsche is "unusual" in that most manufacturers offer incentives to take out their PCP's in the form of a contribution to the initial payment. Porsche does not do this on the Macan (I don't think) so that makes PCP v HP more comparable
- HP is not mileage restrictive
- HP does not have a guaranteed future value. It seems that the HP providers for Macans seem to base their end settlement on expected value but this is not guaranteed. A Macan should be a pretty safe bet BUT for example if a major engine issue where to materialise not recognised by Porsche warranty (as per the 996) it could materially affect resale value.
- Porsche are more likely to agree favourable VT (voluntary termination) terms if you trade in a car early on their PCP ? (I have no experience with porsche PCP but this is true of other manufacturers)
- PCP have restrictive initial payments. This ensures that the amount of credit cannot be small in relative terms to the value of the car. In the case of a Macan this seems to be c£16k. HP does not have this restriction so you can put down as much as you like nb the lower the amount borrowed the higher the APR generally. There can be a point when its cheaper to borrow more depending on what else you could do with the capital especially when interest rates are low ie tie up capital on reducing a car loan but end up borrowing on something else where finance is not as cheap. Of course that works vice versa eg extend mortgage for a 3 year term to borrow the funds.
There are otehr considerations, everyone is different and what is the "right" solution for one person may not be the right solution for another.
Having said all that given Porsche don't offer contribution incentives and future values are strong HP does make a lot of sense comared to PCP where the headline APR is lower.