The Definitive Guide to Buying a Private Jet

A common attribute among all successful people is the value they give to “time”. They know the worth of each of the 1440 minutes in their days, and will not give away even a single minute without a cause. That’s why most of them are always more than willing to pay extra to minimize the loss. This is one of the reasons why a lot of successful people from around the world opt for chartered flights over commercial airliners, whereas many go one step further and buy a private jet. If you too are planning to buy a private jet, although our aviation consulting services offer a failsafe solution to help you make the right pick, it is essential to learn the basics before you start contemplating your options.

Factors to Consider

Choose the type of jet based on the distance/hours you plan to fly and the number of people who will be travelling in it. Broadly classifying, there are three types of jets: light, medium and heavy. A light jet carries up to six people and has a range of approximately 1300 to 1700 statute miles. A medium jet can seat 8-10 passengers and has a 2800 to 3000 statute mile range. A heavy jet carries 12-16 passengers with a 4300 to 6900 statute mile range. Therefore, if you frequently travel overseas or travel with staff or other people, go for a heavy jet.

Following the last economic downturn, the prices of jet planes have dropped significantly, and a number of private jet planes are available with heavy discounts. This is one of the reasons why an increasing number of people are investing in private jets. When buying a plane, the top three factors that decide its price are size, age, and condition.

Operating Costs
Buying a private jet is not the end of the line of expenses, as the buyer has to bear its operating costs, too. Therefore, before making a buying decision, you must consider all recurring costs, such as annual insurance premium, cost of fuel, maintenance cost, hangar space cost, salaries of crew, landing fees, handling fees, and navigation fees.

Financing Options
To finance an aircraft, you need to contact a bank or private financer that offers specialized financing options for aircrafts. Different lending institutions have different qualification criteria – while some bodies finance only new aircrafts; some may approve lower amounts than the buying price of the plane. That’s because according to their evaluation, the value of the plane is less than what the buyer is willing to pay.

Going Ahead with a Deal

Buying a private jet can be a confusing task, especially for first time buyers. It is, therefore, advisable to have a professional by your side who can help you make the right buying decision. Leviate Air is one such aviation consulting services firm that can not only help you strike a good deal on your aircraft, but also save you from the hassles involved in the lengthy and complex process of buying a plane. To learn more about how we can help you buy a private jet, get in touch with one of our experts for a free consultation.