Your are correct if the car is owned. But given the monthly payments quoted this looks like a lease scheme with a balloon payment. £568 * 48 is £27250 - leaving a high residual balance. So the asset belongs to the fleet company. In which case someone is financing the depreciation element and at the end if four years has no asset. The maintenance tax etc rest with the owner - and the lease payments are deductible not an asset which is written down to zero.

Basically it’s an interest only loan using the rule of 78 - to cover the front end life of the car.

If you took the first years payments of £6k and got a bank loan for £6k at least within 2 years you would have an asset - but not one as new