This is effectively renting the car over a long period of time. It is similar to PCP in some respects in that you pay a monthly payment and return the car at the end of the agreement.
The lease includes some services such as M.O.T or repairs. These finance agreements are based on the amount of miles you expect to do each year. Going over this can cost a few pence per mile, so make sure you arrange enough mileage to avoid getting a nasty shock at the end.
As with Personal Contract Purchases (PCP), you may have the option to buy the car at the end of the lease period by making a large payment.