Enter in your cash flow forecast the cost of running any business vehicles. Don't include the cost of the vehicle itself - include that under 'Capital expenditure'.
Running costs can include:
- the cost of fuel used for business purposes. If you plan to offer a mobile valeting service within a certain area estimate what that mileage will be. If you know the average fuel consumption of your vehicle you can then estimate how much the fuel will cost you
- servicing and repairs
- replacement tyres, exhausts and so on
- road tax
- any tolls and congestion charges incurred by the business
If you intend to run a mobile valeting business - or travel to visit customers who require high-end paintwork correction and detailing services - then your business motoring costs will probably be quite high.
Travel expenses include all the other expenses incurred on business travel that is not made by car. These might include:
- public transport
- hotel expenses
For example you might travel by train to a trade exhibition and stay overnight. Maybe you intend to travel around the country offering premium services like paintwork detailing to wealthy clients - this will often involve an overnight stay.
Some of these costs, such as fuel, you will incur every month. Others, such as road tax, you can pay annually, every six months, or in monthly instalments (by direct debit). Enter your estimate of motor and travel expenses in the months when you expect to pay them.