Almost 3 million passengers fly in and out of airports in the United States every day. With so many passengers, long security lines, and new flight requirements, commercial flying can be frustrating to deal with. It can also result in delays to your itinerary.
In this article, we discuss why you need to buy a jet and how to find the best private jet for sale. The freedom that comes with owning a personal jet is more than worth the cost of investment. Continue reading to learn how to navigate the jet-buying process with ease.
Why Buy a Private Jet?
When you buy a jet, there is a lot to consider, such as why you should buy one in the first place. While your motivation for acquiring a personal jet may be evident to you, it’s essential to understand all possible benefits to find the best private jet for you.
Frequent Flights
If you find yourself booking plane tickets regularly, you may benefit from a personal jet plane. Constantly dealing with busy airports, long security lines, and lost luggage can be frustrating. In addition, long flights are arduous even in the more spacious first-class cabins.
The term ‘frequent flier’ means different things to different people, and not every frequent flier would financially benefit from buying a private jet. If you’re not sure, start by taking an average of your flight hours from the last few years.
If you find yourself spending an average of 200 to 400 hours or more in the air each year, you may want to start searching for a private jet for sale. There are other, more affordable options for those flying less than this per year.
Improved Comfort and Convenience
Another popular reason to buy a jet for private use is better comfort and convenience. If you spend a lot of time in airports, you’re likely wasting a lot of time you could be spending on business responsibilities, vacation, or other reasons for travel.
Saving time should be one of your primary motivators in this process. However, you shouldn’t overlook the benefit of improved comfort. With better accommodations and more space, your flying experience will be more enjoyable.
Freedom to Personalize
When flying in a commercial airline, you’re likely to be dissatisfied with other features such as legroom, seat cushioning, or food selection. These can be especially problematic for those with specific food sensitivities or injuries.
While renting gives you more comfort and freedom, it doesn’t necessarily solve all of your problems. You don’t have the freedom to make any adjustments.
When you buy a jet, the plane is yours to do with as you like. You can change the layout, choose the staff, and more.
How to Find the Best Private Jet for Sale
When you decide to buy a jet, the most important aspect is deciding which is the best private jet for you. This includes considering what you need, which features you want, and what you can reasonably afford.
Failing to consider these aspects can mean the difference between a sound investment and an inconvenience. Make sure you do your research before you start seriously searching for a private jet for sale.
Consider Your Needs
Part of the consideration for your needs is your motivation for buying a plane. If you want more comfort, then you’ll likely need a different plane than if you just want a no-frills plane to get you from point to point faster.
You also need to consider how you plan to travel. If you have a lot of luggage or a large number of passengers, you’ll need a larger plane than if you were to travel by yourself.
Factor in Features
While you may have your heart set on certain features for your jet plane, consider how important they are for your purchase. While some aircraft come equipped with certain features, others may not.
If a plane ticks off all of your other boxes, consider whether you can have your desired features installed later. While this may not be worth the additional time or cost to you, it can save you from missing out on the best private jet.
Set a Budget
Arguably the most critical aspect when you buy a jet is your budget. Whether or not you are concerned about the financial burden, you don’t want to spend more than necessary since a private plane will quickly depreciate.
We recommend finding a personal jet you love or can easily customize to become something you’ll love. This will help ensure you get the most use and your money’s worth out of the investment.
How to Create a Jet Plane Budget
A private jet plane can range from $2 to $100 million or more. Therefore, creating an accurate budget is essential to making a wise investment.
The first step is to consider all of the costs of a personal jet. Some new buyers make the mistake of putting their entire budget into the cost of the plane without considering all of the other expenses associated with the purchase.
If you want to stretch your budget as far as it can go, you need to consider all of these costs before deciding on the type of plane you want. While the cost of the aircraft may be the most significant expense, you also need to consider storage fees, operating costs, and more.
Cost of Jet Plane
The cost of the plane will take up a considerable percentage of your budget, so it’s essential to make the right choice. Create a list of your favorite makes and models, compare features, and rank them based on the factors that are important to you.
Then, consider other costs that are directly related to the cost of the plane, such as taxes and insurance. These costs can add up quickly but are largely unavoidable aspects of the purchase.
Operating and Maintenance Costs
A damaged aircraft part can cost tens of thousands of dollars to repair and even more to replace. And not investing in routine maintenance costs can leave your plane grounded or compromise safety.
This means you’re paying for a plane that you can’t even use. However, even when you use the jet plane, you need to consider fuel costs, staffing costs, and more.
Storage Fees
If you want to keep your personal jet in the best condition, you have to factor in the cost of quality storage. This is especially important during extreme temperatures and inclement weather.
Accessories and Customization Costs
If you’ve managed your budget well, you can factor in the cost of accessories and other customizations to make your personal jet feel like your own. This can include everything from a new interior to a wine fridge to a custom workspace.
If you have the budget to make the plane your own and make it more user-friendly, then we recommend you do just that. This can help make your long trips more comfortable and productive.
How to Buy a Jet
Once you have a solid understanding of what you want and a general idea of what you can afford, you can start getting serious about the process of buying a jet.
For this process, we recommend finding an expert, asking the right questions, and deciding whether you need a new plane or not.
Find an Expert
Enlisting the help of an expert to buy a plane can help make the process much easier. It can also help ensure you find the best private jet for sale that meets your budget.
By hiring someone with experience in aircraft acquisition, you benefit from their knowledge. They understand all of the fine details you might not even think to consider. Unless you are an expert yourself, we recommend hiring a trusted advisor for your purchase.
Ask the Right Questions
When you have a personal jet plane, or two, lined up, it’s essential to ask the right questions before investing. Having a skilled acquisition expert comes in handy during this part of the purchase process.
Some of these questions include:
- What is the serial number?
- Why is the jet plane for sale?
- What are the details of the maintenance and service records?
- When was the last inspection, and what were the findings?
- Where and how was the plane stored?
Asking about the serial number will help you determine if the advertised make and model are accurate. Doing this kind of research before purchase helps ensure you don’t pay more than necessary for your new personal jet.
Asking the right questions can also help determine the condition the plane is in. If it’s been sitting out in the open until recently, you may need a closer inspection of the components to ensure it runs as it should.
Pre-Owned or New Private Jet
While a new private jet plane may be the most appealing option, it is also the most costly. If you want to make less of a dent in your budget, consider whether you need a brand new personal jet.
A pre-owned plane is another option when you buy a jet. As long as you ensure it’s in going condition and well-cared for, it can offer the same benefits as a brand new jet.
Other Things to Consider
While your plane acquisition expert should be able to guide you through the entire plane-buying process with ease, there are some additional factors worth considering.
Buying a plane doesn’t have to come with a substantial financial impact if you’re flexible and if you don’t plan to use it all the time. You can either make money off of your jet or share its cost.
Fractional Personal Jet Ownership
Fractional ownership is one of the best ways to enjoy the benefits of real estate, private boats, or a private jet without the substantial financial cost. With fractional ownership, you share the cost of the plane with other owners.
This includes all ownership costs such as storage, upkeep, staffing, and operational costs. While this is a great option to save, especially if you don’t need the plane regularly, it’s also essential to understand the detriments.
Fractional ownership limits your freedoms compared to full ownership of a private jet. For example, you may not be able to travel as far if another owner has time set aside after you, and you may not be able to make permanent customizations without the approval of other owners.
Private Jet Charters
Private jet charters or a jet card are great ways to get a private flight. A jet card program offers you a debit card-style membership card. You use this card to prepay for flights or a certain number of hours.
After you get your card, you can book your flight within a specified timeframe. The right jet card program depends on the size of jet you need and the booking timeframe.
However, out of all of the different methods of obtaining a private flight, this is one of the most restrictive. While you have the freedom to book your flight, you have little, if any, say over customization and may be limited if you need a flight last-minute.
Charter Your Private Jet Plane
Instead of saving on the cost of your private jet plane, you can make money off of it when you don’t need it. As a private owner, you can rent your aircraft out to charter companies and get paid when others use it.
This is similar to renting out a vacation home when you don’t need it. It’s a great way to offset the cost of ownership. However, with more frequent use comes more prominent wear, so be sure to keep up with maintenance if you choose this option.
Buy a Jet That’s Right for You
Finding the best private jet may seem daunting if you don’t know where to start or what questions to ask. Without this knowledge, you could end up paying more than necessary for an incompatible plane. Use the above guide to buy a jet that’s right for your needs.
To make a reservation for your private plane, contact us today.
