How to purchase a Private Jet.
Private Jet ownership can be a great thing.
Business is going very well! Possibly better than you’d imagined.
You have a quickly growing team, and meetings all over the country maybe even across oceans.
When you’re living a luxury life with high luxury standards, there comes a time when your sole purpose in life is to be able to own your very own private jet.
The problem is, not everyone knows how to go about purchasing the perfect one.
From the type of aircraft to the different types of financial transactions, we’re going to throw around a few tips that would help any jet-setter acquire the perfect personal jet.
Travel experts can help you evaluate the cost benefits of chartering versus aircraft leasing.
They often do not offer leasing as it ties you down for the length of the contract to a specific plane which you also have to maintain, pay hangaring fees for, plus pay flight crews and fuel expenses each time you fly.
If you needs grow as they for most businesses, you now have to trade-in and upgrade, paying commissions again.
The charters many do offer make you pay only for the precise aircraft you want to fly each time, once for a small group to vacation, other times a larger group to a negotiating session, and at other times an even larger group to an annual meeting.
Each time the only thing you pay for is the exact cost of that trip, nothing else.
No long term contracts, no other obigations.
You pay for what you need and use each time, so why lease?
Aircraft Age & Purchasing
Some aircraft have particular aging issues.
If you want to buy a particular private jet, ask an expert what aging issues are common to that model.
Some types of aircraft develop technical problems such as “weep hole cracks” and other symptoms as they age.
Other models may have their own age-related maintenance issues.
If you can compare the condition of a newer version of the jet plane you want to purchase, you may be able to set a buyer’s benchmark other airplanes in that class should live up to before you seriously consider them.
Using A Broker To Purchase An Aircraft
When you buy or sell a house, you go through a real estate agent. When you’re considering buying or selling an aircraft, you can do it alone or use an aircraft sales broker.
The advantages of working with a broker are significant. Brokers know the market, the current values of aircraft, the worldwide availability of various models, recent sales transactions and can negotiate on your behalf without the seller knowing your identity.
Brokers can also assist you in handling a simultaneous transaction of selling your current airplane, while buying a new model.
This ensures that you are not left without air transportation, if that’s important to you. They can also assist you by chartering you a plane before your new aircraft is ready to fly you.
Brokers have only one interest in mind, and that is yours. They act as your agent and will negotiate the best deal on your behalf.
Since they do this for a living they can be much more effective than someone who only does this every once in a while.
Buying A Private Jet
Buying or leasing a private jet involves understanding specific recurring, non-trivial expenses beyond the initial cost of the aircraft. Jets require certain expenses even without takeoff such as periodic mandated overhauls, storage, insurance and licensing fees. When flying there are take-off and landing fees, pilot pay and fuel costs.Airplane owners can assist in the purchasing process because they already understand the expenses involved with owning and maintaining an aircraft.
If you plan to add a private jet to your corporate operation, consult a experienced pilot-owner or flight mechanic on what financial impacts you should expect.
You may also be able to get some free advice by contacting a nearby active duty or Reserve Air Force base to speak with an officer who also has experience with private aircraft. Happy flying!