Ever since Bill Lear revolutionized the private jet market with the introduction of his Learjet 23 in 1964, corporate chief executives and wealthy travelers have been flying in style on custom jet aircraft. The business jet has become so common that most passengers are middle management types. In fact, it's now a how to buy a personal jet buyer's market.
Do a cost-benefit analysis before you buy a private personal jet. Aviation experts suggest that 350 to 400 hours of flight time per year usually justifies full ownership of a jet. Otherwise, you should consider fractional ownership.
Consider the hidden costs.
Along with a price tag that ranges from $6 million to $50 million for a new private jet, factor in necessities such as insurance, fuel, catering and pilots- who are in short supply. Aircraft management companies will take care of these needs for about $100,000 to $200,000 per year, depending on the size and usage of the jet.
Determine the size and flying range you'll need. Light jets ($3 million to $8 million) can take 5 to 8 passengers roughly 2,000 miles (3,219 km); midsize executive jets executive jets ($9 million to $16 million) can take up to 9 passengers from 2,000 to 3,000 miles (3,219 to 4,828 km); and large executive jets ($17 million to $45 million) can carry 12 passengers more than 4,000 miles (6,437 km).
When you've figured out how to buy a personal jet, contact private jet dealers and ask for aircraft specifications and pricing. Next, look online via private jet dealers, which sell new and used jets, including repossessed aircrafts at deep discounts.
Consider fractional ownership.
You purchase a share in a jet plane from a management company (mostly as a tax deduction), then pay a monthly fee and hourly operations and costs. On as little as hour hours' notice, they management company sends out whichever jet is most conveniently located.
Consider renting an aircraft.
A used jet may not be such a great deal. To land at many U.S. airports a jet must be compliant with Stage 3 federal aviation regulations. Converting a private jet to comply with regulations takes several hundred thousand dollars and many months of repair time, as most private jet aircraft repair centers are already backlogged.</p>
Consider buying a VLJ (Very Light Jet) instead.
The VLJ iss the newest class of aircraft and is a lot cheaper both to acquire ($1-3 million) and to operate (some as low as $1 per mile). These planes are all less than 10,000 pounds, have 4-6 passenger seats and most can take off and land in less than 3000 feet of runway. This allows them to use the thousands of small municipal airports instead of having to use the larger, busier commercial airports.
How to buy a personal VLJ is either from manufacturers (Cessna, Embraer, Avocet, Adam, Eclipse, Diamond) are scheduled to have their VLJ models certified and produced starting mid 2006 and are taking pre-orders or contact an aircraft dealer on how to buy a personal jet.
As one of the best aircraft brokers we have had aircraft experience in:
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