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4 Factors to Consider While Investing in a Private Jet

The basic question that comes to the mind of most frequent fliers is, whether to buy a jet or opt for charter services. If you’re a frequent flier and spend more than 300 hours on air during a year, it is better to own a private jet. <br>

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4 Factors to Consider While Investing in a Private Jet

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  1. 4 Factors to Consider While Investing in a Private Jet

  2. 1. Your Travel Needs The basic question that comes to the mind of most frequent fliers is, whether to buy a jet or opt for charter services. If you’re a frequent flier and spend more than 300 hours on air during a year, it is better to own a private jet. In addition, if you need to frequently travel to destinations that may be off beat for many, purchasing jet planes for sale is a better business proposition.

  3. 2. Ownership Cost It is advisable that you conduct a lifecycle expense analysis of the jet before putting down your money. If you’re confused between choosing a used and a new jet, compare them on the basis of various factors such as operational expenses, annual insurance costs, annual maintenance costs and hangar storage. You can also seek the services of an aviation consulting firm to learn more about post-acquisition costs.

  4. 3. The Type Of Jet You Need The most common type of private jets available in the market are- light, medium and heavy. Light jets can land on short runways but have a limited range (not exceeding 1,000 nautical miles). If you’re planning to buy a plane for overseas/intercontinental travel, investing in a medium/heavy jet would be a prudent option as these jets have a total range between 1500 and 3000 nautical miles.

  5. 4. Get a Pre-Purchase Inspection Report Make sure you get a pre-purchase inspection report on the jet’s condition before buying the aircraft. Avail the services of an inspection specialist who’ll inspect the jet and appraise you about the issues you need to fix and the estimated cost. Additionally, scan through the aircraft’s history including its previous flights, maintenance records, and other relevant data and check for any abnormalities.

  6. Final Few Words In addition to the guidelines mentioned in the blog, read all the clauses and subclauses of the contract before signing on the dotted lines. As an additional precaution, hire the services of an aviation attorney who’ll help you draft the purchase documents. Last, but not the least, ensure the letter of intent includes all the important details including the jet’s price, terms of sale and the deposit.

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