If you’re thinking of starting your own limo business or are just looking for a personal mode of transportation, you may be wondering just how much it costs to buy a limo. Many factors help determine the cost of a limo, from the size of the vehicle to the features it has.
A new, average-sized limo costs around $220,000. However, this price can vary greatly depending on the make and model of the limo. For example, a custom-built limo can cost anywhere from $350,000 to $1 million or more.
Buying a used limousine is also a great option and can save you a significant amount of money. A standard used limo will cost you $60,000. The used market has a wide range of options, from $20,000 for an older model limo to $2,000,000 for a fully custom, exotic limo.
There are also many other costs associated with owning and operating a limo. Insurance, licensing, and gas all add to the overall cost of having a limo, which can add on an average of $7,500 a year if you have a limo business.
If you’re getting a limo for personal use, the cost of a private driver will cost you an average of $50,000 a year. This article will outline different factors that affect the cost of a limo and some of the pros and cons of owning one.
Cost of a Limo
Many elements go into the cost of a limo. The size, make, and model of the vehicle all play a role in how much you’ll pay. Generally speaking, new limos tend to be more expensive than used ones.
General price ranges for different types of limos
Economy Sedan Limo – $50,000 to $90,000
Standard Limo – $70,000 to $140,000
Luxury Limo – $75,000 to $200,000
Exotic Limo – $200,000 to $2,000,000
Bus Limo – $100,000 to $550,000
Stretch Limo – $95,000 to $350,000
The size of the limo is also a major factor in the cost. The larger the vehicle, the more expensive it will be.
Average sizes and their corresponding prices
Sedan Limo – 6 to 8 passengers – $70,000 to $150,000
SUV Limo – 10 to 12 passengers – $120,000 to $250,000
Stretch Limo – 10 to 20 passengers – $95,000 to $350,000
Bus Limo – 15 to 30 passengers – $100,000 to $550,000
You can also have a custom limo built to your exact specifications. These vehicles can be costly, ranging from $350,000 to $1 million or more.
Operating a Limo Business
If you’re looking to start your own limo business, there are a few additional costs to consider. In addition to the cost of the limo itself, you’ll need to budget for insurance, licensing, and gas.
The average annual cost of running a limo business is around $7,500. This includes insurance ($3,000), licensing ($1,500), and gas ($3,000). This example of expenses is operating one limo and not outsourcing a driver.
If you have multiple limos and need to hire drivers, your yearly expenses can be far more significant. In fact, hiring just one driver can add at least an additional $35,000 a year to your costs. If you have numerous limos with multiple drivers, your cost for operating a limo business can be well over $100,000 a year.
Personal Use of a Limo
If you’re looking for a personal mode of transportation, the cost of owning a limo is still significant. The cost of a personal limo will vary depending on your needs and how big you want your limo to be. A 6 to 8 person sedan limo will cost around $90,000. A 10 to 12 person SUV limo will run you about $120,000. And a 15 passenger stretch limo will cost you anywhere from $120,000 to $400,000.
The average yearly cost of owning a limo for personal use is around $5,500 when you factor in gas, insurance, and maintenance. This cost can be significantly higher if you have a driver. Hiring a personal driver can add $50,000 on average to your yearly expenses.
Cost of an Armored Limo
If you’re looking for extra security and protection, you can also buy an armored limo. These vehicles are designed to provide maximum protection in the event of an attack or accident.
The cost of an armored limo varies depending on the level of protection you need. Basic armoring can start at around $200,000 plus the cost of the limo. More advanced armoring can cost $1 million or more.
You can expect to pay between $2.5 and $4 million for a presidential armored limo. Armored limos weigh significantly more than regular limos, so you’ll also need to budget for additional gas expenses and a higher performance engine and drivetrain. Armored limos are usually designed to hold between 6 and 8 passengers.
Used Limo Cost
If you’re looking to buy a used limo, you can expect to pay $10,000 to $200,000 depending on the age and condition of the vehicle.
Limos can quickly depreciate in value, so it’s essential to do your research and compare prices before you buy. When buying a used limo, it’s important to make sure the vehicle has been well-maintained and is in good condition.
Because limos have more extended frames, they can often become weak over time. You want to have a used limo inspected by a professional before buying it to ensure there are no major structural problems.
Buying a used limo can be a great option if you’re looking to save money.
Costs of different types of used limos
6 to 8 person sedan limo – $10,000 to $70,000
10 to 12 person SUV limo – $30,000 to $50,000
15 passenger stretch limo – $50,000 to $200,000
15 to 30 passenger bus limo – $75,000 to $130,000
From the list, you can see that the price for a used limo is significantly less than buying a new limo, but it’s essential to make sure you’re getting a vehicle that does not require a ton of fixes or has pre-existing mechanical issues.
Building a Custom Limo
If you want something truly unique, you can have a custom limo built just for you. This can be a great option if you have specific needs or want a vehicle not available on the market.
The cost of building a custom limo can vary significantly depending on the level of customization you require. A basic custom limo can cost around $80,000. This will get you a 6 to 8 passenger vehicle with your choice of color, interior, and exterior features.
If you want a more customized or luxurious limo, the cost can be much higher. You could easily spend $1,000,000 or more on a high-end custom limo.
Building a custom limo is a great way to get the exact vehicle you want without compromising. You can choose from a wide range of features and options to create the perfect limo for your needs.
It’s important to note that building a custom limo can take a significant amount of time. The process can often take six months to a couple of years, so you’ll need to be patient if you decide to go this route.
Some of the more infamous custom limos include
- The $1.3 million “Dartz Prombron” with features like bulletproof windows, a champagne fridge, and 24 karat gold trim
- The $1.5 million “Lincoln Navigator Presidential Edition” with features like heated floors, a bar, and a 55-inch plasma TV
- The $1.9 million “Rolls-Royce Phantom Extended Wheelbase” with features like a built-in humidor and bar, a partition that can be lowered for privacy, and reclining rear seats
- The $3 million “Beast” used by the President of the United States, which is outfitted with 8-inch thick armor, bomb-proof glass, and a self-defense system
- The $4 million “American Dream” which is a Guinness World Record holder for the world’s longest limo at 100 feet long
As you can see, there is no shortage of luxury and extravagance when it comes to custom limos. If you have the money, there’s no limit to what you can get.
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Limo Maintenence Cost
In addition to the initial cost of buying or building a limo, you’ll also need to budget for regular maintenance. Limos require a lot of upkeep and regular maintenance to stay in good condition.
The average cost of maintaining a limo is around $600 per month. This includes things like oil changes, tune-ups, cleaning, and repairs. If you don’t keep up with regular maintenance, the cost of fixing major problems can be much higher.
If your limo is used for business use, the monthly maintenance cost can be much higher depending on how frequently your limo is used. Overall, the cost of owning a limo can be significant. But if you’re looking for luxury, convenience, and privacy, there’s no better way to travel.
Conclusion
So, how much does it cost to buy a limo? The answer can vary quite a bit, depending on the size and type of limo you want.
A basic used sedan limo will cost as low as $10,000, while a custom-built limo can easily exceed $1,000,000. In addition to the initial purchase price, you’ll also need to budget for regular maintenance costs and other expenses if you plan to operate it for business use.
A limo is hard to beat if you’re looking for luxury, convenience, and privacy. Just make sure you budget appropriately for all the costs associated with owning one!