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By saying you are VAT registered, do you mean that you are going to reclaim the VAT element of the purchase? If so, I think you are limited to business use only - ie it cant be commuting to work. Examples would be if you left the car locked at the business overnight, preventing anyone at all...

I have been thinking of this as well. In order to spread the cost wouldn't it be possible to borrow the money (from a lender - say Lombard for example) for the full price of the vehicle in a limited company, pay with that cash and then use the 100% write down against corporation tax in the 1st...