The Best Way to Purchase a Private Jet – How To Guide
The Best Way to Purchase a Private Jet – How To Guide
Have you ever thought about the elements involved in purchasing a private jet?
How do you go about doing it? Where do you get your aircraft? How much does it all cost?
While there are numerous reasons to go by private jet, the reasons to acquire your own aircraft are more difficult to assess.
There are three main reasons why purchasing a private jet is preferable to alternative ways of private jet travel.
First and foremost, there is the issue of privacy and secrecy. Owning your own plane gives you more privacy and secrecy than chartering or fractional ownership. Taylor Swift, for example, has her own private plane. Bill Gates has his own private aeroplane. Tom Cruise, too. Flying by private aircraft becomes a necessity rather than a pleasure beyond a certain point. Simply ask Tim Cook.
Second, there is the issue of safety. This is not to argue that charter companies keep their aircraft in bad condition. That is not correct. However, there is no such thing as allergy safety or a totally clean atmosphere. Knowing that you and your visitors are the only ones who have had contact with it. You don’t have to be concerned about the folks in front of you. You may also have the aircraft serviced to your specifications.
Third, personalization. This is maybe the most compelling incentive to own a private plane. You may customize the airplane to suit your needs. This is possible if you wish to design a luxury lavatory with a shower. It’s possible to get white leather instead of brown leather. Select the carpet of your choice. The seating arrangement. The color palette, among other things. Bombardier even has a configurator where you can create your own plane.
It’s now yours! Owning a private plane confers a certain level of status.
These are the most prevalent reasons for purchasing a private jet. Keep in mind, however, that most of the additional benefits of private jet travel may be obtained through on-demand charters, jet cards, and fractional ownership. There are several aspects to consider before making a purchase. In contrast, there are several reasons not to purchase a business jet. Make certain that you are not considering purchasing a jet for the improper reasons. Just be careful not to listen to arguments from someone attempting to sell you an on-demand charter.
The best time to buy a private aircraft is a can of worms, with several sites offering you different figures.
You may hear that 150 to 250 hours is the ideal time to upgrade to owning your own plane. According to some reports, the sweet spot is between 300 and 400 hours.
The fact is that it depends, like with anything in private flying. It is dependent on the sort of aircraft you wish to purchase. It is determined by your normal mission profile as well as your financial circumstances.
Unfortunately, there is no one-size-fits-all solution for acquiring a business aircraft. There are too many variables to produce an answer that says you should contemplate ownership after a particular number of hours.
However, if you fly comparable routes for hundreds of hours per year and are dissatisfied with your present solution, acquiring a private aircraft may be the best option.
Additionally, keep in mind that private aircraft are designed to make your life simpler. When acquiring a private aircraft, you should be able to pinpoint where you will save time and increase earnings for your company. Unless you just want to brag to folks that you possess a private jet.
Pre-Owned Vs New Aircraft
The answer is straightforward: how much funds can you offer upfront? Currently, 75% to 85% of consumers buying a private jet buy used aircraft.
The initial cost of a new aircraft is greater. Maintenance costs will be cheaper throughout your ownership experience. You will also be able to keep the manufacturer’s warranty for further peace of mind. You will also have many customizing options.
One of the most major advantages of new airplanes is that you will have access to all of the most recent technology and safety measures. Newer planes are also more efficient, lowering your operational expenses.
Pre-owned aircraft, on the other hand, require a far lesser initial expenditure. This is appealing to many clients, especially given the market’s abundance of near-new aircraft with low times. Furthermore, you may always tailor a pre-owned private jet to your exact specifications. Aircraft may be modified with new interiors and technologies.
The disadvantage of used airplanes is that the technology will be less advanced. Furthermore, you will most likely have to spend more in maintenance expenditures than with modern planes. Fuel usage – the Gallons per Hour (GPH) – is also vital to consider. Older airplanes will use less fuel and emit more noise.
To summarize, the decision between pre-owned and new will be heavily influenced by your financial situation and the reasons for obtaining a private jet in the first place.
Where to Look for Private Jets for Sale
If you want to acquire a new private aircraft, you must go directly to the manufacturer. All new aircraft may be found here. Bombardier, Cessna, Embraer, Dassault, and Gulfstream are the top five private jet manufacturers.
There are thousands of used airplanes available if you are seeking one. Typically, 11% to 12% of the world’s business jet aircraft are available for purchase.
There are several possibilities available on the used market. You may buy airplanes ranging in age from months to over 50 years.
The following are the most often seen used aircraft:
- GlobalAir
- James Edition
- Jetcraft
- AVBuyer
- Controller
There are other online marketplaces accessible, but these are the major. Furthermore, if you know the particular aircraft you want, you could look into a manufacturer’s pre-owned listings.
What Is the Price of a Private Jet?
Prices will vary based on the type, configuration, and condition of the aircraft.
New private planes may range in price from $3 million to more than $70 million. The Cirrus Vision aircraft SF50 is the most affordable new private aircraft available. The Gulfstream G700 is the most costly new private aircraft available, costing $75 million. Of course, there are several planes in between.
The cost of pre-owned private planes varies just as much. The very cheapest private planes are priced at $150,000 USD. Many of these planes are from the 1970s. Naturally, avoid airplanes like this…
On the other side, relatively new airplanes may be found for significantly less than their initial selling price. A 2018 Dassault Falcon 8X with decent hours, for example, may be acquired for roughly $44 million. A new Falcon 8X costs around $60 million.
This type of aircraft represents a fantastic opportunity for purchasers. Near-new aircraft at a much lower cost. Maintenance will be minimal, but the initial cost will be much lower.
Conclusion :
- The primary reasons for purchasing a private aircraft are privacy, security, personalization, and status.
- Rather than purchasing, there are numerous more cost-effective options to fly by private aircraft.
- When alternative modes of transportation aren’t fulfilling your demands, it’s time to invest in a private aircraft.
- The majority of private jet customers acquired used aircraft.
- Pre-owned aircraft have a cheaper initial cost, but will most likely have higher maintenance costs.
- New airplanes incorporate cutting-edge technology and comfort.
- New private planes range in price from $3 million to more than $70 million.