I bought a new vehicle outright with cash for my business in 2017. In those 3 years, I have put 120,000 miles on the vehicle. I knew that would happen, and so it made sense for me (the business) to go ahead and buy. Even burning up about $40,000 in cash that year on the purchase didn't hurt, because the business had a "good year" and "made too much money".
I know a lot of businesses lease fleet vehicles, because they become a monthly cost that can be swung with the cash flow of the business. Owning things is a different consideration for a person vs. a business. Both owning and leasing can make sense, but your situation and expectations will dictate what you consider success!
You're exactly right.
Also, if it's for business purposes, the vehicle should be providing leverage for you. i.e. there is a monthly expenditure, but having the vehicle enables you to make much, much, more than the monthly nut.
