Yes, have ended a PCP recently. They just collect, do an inspection and charge for any minor damage, same as a PCH/lease. We had a couple of minor scuffs and a wheeltrim after 3 years, no biggy.
If you want to buy, then you can do the balloon, you’ll probably have been hassled by supplying dealer offering a trade in on favourable terms to start up a new 3 year PCP at some point also