I am not a tax guru nor familiar with U.S. law. Here we can depreciate a portion of the value each year if it is used for business purposes but you might have to prove that. If the vehicle is registered in the company name and is available for personal use, that portion becomes a taxable benefit on your tax return.
There is another catch. If a company asset is depreciated to below it's fair market value, the surplus may be subject to capital gains. This can be an expensive issue if a home office is written off as a business expense and the house is then sold.
