I think this paradigm is intended for people who are bad at math...
...or are at least clueless about the real costs of owning and operating a car.
Yes, it may look good compared to fixed costs or cash flow, but after you factor in the variable costs of wear-and-tear, additional maintenance and depreciation, people doing this are going to find that they really aren't making much, if anything at all. They might actually be losing money on the deal.