considering a business...

The main problem with older cars is EVERYTHING. They often are garage queens, owned by people that are not "car guys". Maintenance can fall by the wayside. Corrosion sets in, rubber deteriorates, mice have lunch, fuel goes bad.

I mentioned the $3000 brake job before. Rolls Royce has a double redundant brake system (pump circulated, special RR fluid that also supplies the self-leveling suspension). When something needs work here (age not mileage) bring money! Parts are OEM from the dealer and there will be lots of labor.

You can go upside down on an old Rolls pretty fast.

A better choice might be a Bentley Turbo R. They are similar cars, cost as much to fix but are often owned by enthusiasts and might be better cared for. You won't believe how fast a luxury car can be.

 

Have you asked any brides to be to guage general interest? Most of the women I know care only that the "limo" is modern, clean and on time. It's the men that seem to care more about cars and the wedding day isn't "our" day.


Since you mentioned nicks in the wood have you priced replacements? The prices can be astronomical, same with the wilton wool carpet and leather. I'd be very concerned that a small mishap(puke, scatches on the wood or leather from jewelry or clothing, spilled drink) could turn things upside down fast.

As for turning a profit, as others have mentioned, the more specialized the car and smaller the fleet the harder that is to do.

Rollers can be great cars, but approach them the same way you would an older V12 BMW or Benz. The purchase price may seem incredibly cheap and you may be able to get by on minimal maintenance for awhile, but the reality is you'll be driving what was/is a very expensive new car and over the long term the costs will be in line with that.

 

I know in NY it costs about 100 to get your license for TLC, and insurance on a Town Car for this type of work is like 4-5000 so not sure what a Rolls Royce would be...

 

I once thought about doing something similar with a Bentley Arnage. I decided not to as I was going to be doing it at the same time as working full time and I can't guarantee what time I leave work on an evening so never did it.

One thing I don't think you've realised is: businesses lease their equipment. These days, chances are virutally every piece of business equipment you see 'belonging' to a business is leased or financed in some way.

If you think you can do it well, can find a good car that isn't going to cost you a fortune (either in depreciation or running costs), can guarantee your availability for appointments then do it. So long as you buy your car well, I don't see that you'll lose too much money on the business side of things (advertising, pomotion, etc) so it doesn't seem like a bad way to get to own your dream car.

 

Hey Rollsorferrari - I may just have spotted the ideal car for your proposed business, it's for sale in Japan:
http://www.classicdriver.com/uk/find/4100_results.asp?sorderby=dtSubmitDate&fc=13&spriceoperator=less&action=simple%5Fsearch&lmanufacturer=%2A&lcurrency=2&lcurrency_currencychangeform=2&next=4100%5Fresults%2Easp&bsubmit=true&lmostrecent=100&lcompetitionmanufacturer=%2A&lresultsperpage=20&ldrive=1&size=20&lprice=0&lvat=1&page=4&lseller=1&smilageoperator=less&lmilagetype=1&lCarID=1742415

http://www.classicdriver.com/uk/find/4100_results.asp?sorderby=dtSubmitDate&fc=13&spriceoperator=less&action=simple%5Fsearch&lmanufacturer=%2A&lcurrency=2&lcurrency_currencychangeform=2&next=4100%5Fresults%2Easp&bsubmit=true&lmostrecent=100&lcompetitionmanufacturer=%2A&lresultsperpage=20&ldrive=1&size=20&lprice=0&lvat=1&page=3&lseller=1&smilageoperator=less&lmilagetype=1&lCarID=1742457

Not a bad price for a stretched Rolls IMHO.

 

I think there is a metric in the livery business that your hourly rate for the car has to be at least 1/1000 the price of the car. In other words, if you spend $75,000 on the car, you need to charge $75/hr for the service.

If it's not a full-time business for you, then that's a slightly different issue, but you'll need to budget enough time to fully clean it prior to every run. That car needs to be immaculate when it pulls into the customer's driveway.

Good luck with it.

Neil

 

You'll want to check on licensing and insurance. I was talking to a Rolls owner at a car show this past year, and he used to do what you want to do -- rent out the car part time. The State of Texas changed the insurance regulations regarding hired cars, and the new premium was so high that he closed the business.

Remember, your standard auto policy isn't going to cover liability for commercial use of the car.

 

Didn't that Avengers guy Patrick McNee gut drowned to death in one of these?

(the James Bond movie where he bedded down the Charlies Angel girl, the Russian spy chick with the Corvette, and the UberBickth Black Wrestler Chick)?

I think a real Ferrari fan would take the big red Fire Truck.

 

Thought it was " Serve the classes eat with the masses, serve the masses eat with the classes"

Your young, you have the cash, go for it! Just do the insurance and maintenance homework first. Its better to try now, worse case scenario you'll get an excellent education and maybe even come up with a better idea. Your young enough to recover from a lot more risk than this.

 

I hope you really know what you're getting into and think about it again because growing up my dad had a silver cloud III and a silver shadow and a Diablo a few years later and my mother told me she made my dad sell 2 of the cars bc they just becoming a waste of money everytime something went wrong which was more often than they were actually running and he sold the 2 rolls' and kept the Diablo.....the diablo is horribly unreliable but it was BETTER than the 2 Rolls.......just keep that in mind