In going to the Emergency Room on a cold winders night, the last thing on my mind was a limo. I have some wild limo stories but not of them led to the ER. In leaving the ER I couldn’t stop thinking about Limousines. This is the most interesting limo story that I have ever heard not directly involving me.
What is Cost to stretch a Limo
I sat next to a man in the Emergency room that owned an Auto Repair Body Shop . The man was a limo builder. You can’t just go to the car lot and pick out a limousine. Each limousine must be custom build on request by someone.
The limo builder was on the phone as he attempted to repossess a limousine he just built. I was curious what it cost to stretch a limo. The limo man told me that it cost $160,000 to stretch the limo. Within the $160,000, the Auto Repair shop owner’s labor cost was $32,000. The $160,000 does not include the cost of the vehicle. In this case, it was a brand new expedition they stretched into a limousine. The new expeditions Cost upwards of $40,000.
Why Was the Limo Being Repossessed?
The limo man was paid for the parts his auto body shop used to stretch the limousine. The limo man was not paid for the labor so he kept possession of the vehicle. The limo client paid for the car & parts up front as part of the agreement. The client also agreed to pay for the labor at the completion of the limousine. The Limo client just could not get a loan in spite of having cash strong history and money in the bank.
The client simply had no means to pay for the labor to build the limo. The client wanted to get access to the new car so that he could make money to pay him back. The Auto Repair Shop owner just wanted to be paid for his work. So for months’ the Auto Shop owner and the limo maker were back and forth in court over this limousines ownership.
What Was the Plan for the Limousine?
At this point the Limousine was just taking up space. Auto Repair shop owner had no plans being in the limo business. The Client for the limo had no means to pay the repair shop the additional $32,000. This is a direct impact of the economy. People want new limos, so the limo driver needed a new limo to get more business. The Limo building client was unable to get financing as a result of the new stringent small business loan regulations.
The irony is that as banks receive their share of the $700 Billion dollar bail out, they would cut small business lending by $10.5 billion. As a result this Limousine would be repossessed and sold down in Georgia at a fraction of the cost to build it. So in short, because this small business could not pay the $32,000 to the limo builder he will lose out on the $168,000 he paid to have the limo created.