godan verb (-su)
ride into the ground; ride to death; drive until it breaks
Used for vehicles, animals, or any means of transport that is ridden or driven until it is worn out or destroyed. Often implies overuse or reckless riding.
彼は古い自転車を乗りつぶした。
He rode his old bicycle into the ground.
その馬を乗りつぶすな。
Don't ride that horse to death.
Standard kanji spelling.
Alternate kanji spelling using 潰す (to crush/destroy), emphasizing the destructive nuance.
使い潰す means to use something until it is worn out or broken, not limited to riding. 乗りつぶす specifically refers to riding or driving something to destruction.
Compound of 乗り (continuative form of 乗る 'to ride') + つぶす (潰す 'to crush, destroy'). The literal sense is 'to ride and crush/destroy'.