Traveling via a private jet may seem luxurious to a lot of people. However, businessmen have discovered that buying a private jet can actually be a smart move for them.
Now Is the Best Time
Now is the perfect time for you to make your travel jet purchase. Why is this so? Well, today the offer for travel jets is at its lowest level. Compared to the prices years ago, the price for a travel jet today is about 20% to 50% cheaper. With this, we can say that jets are quite cheaper (relatively, of course!) nowadays.
In the event that you are planning to buy a private jet, there are lots of things that you should know and think about. To help you out, we have pooled some buying tips that you can definitely benefit from.
Private Jet Buying Tips
1.) Have a Cost-Benefit Analysis
We all know that private jets will cost millions of dollars. In the event that you fly 350 to 400 hours a year, then you can make the most out of this investment. Since this is quite a big investment, it is best that you should be cautious during the buying process. Take note of the hidden costs. Aside from the upfront cost of buying a jet, you also have to think about the money you will have to spend on gas, pilot salary and insurance policies. In addition to that, you should take maintenance and repair costs into consideration too. Buying a private jet is quite a big responsibility and investment. That is why you should be wise in spending your money and evaluating how much is needed to finance such investment.
2.) Determine Your Needs
Private jets come in different styles, sizes and engine type. Of course, the larger the plane, the bigger its engine (and fuel consumption) will be. Today, you can find jets for sale in three different sizes– small, medium and large. It is best that you identify what your needs are in order to choose the best type and size of plane. In this way, you can be able to avoid making the mistake of buying a plane that will not fulfill your needs. Plus, it can also help you avoid buying a plane with features that you will not be able to maximize.
3.) Choosing New Versus Used
With the down economy that we have today, more and more people are selling their private jets. Because of this, the industry is filled with too many used planes. Keep in mind that buying either new or used planes come with its own benefits. Buying used plane will allow you to enjoy lower rates and prices. On the other hand, you are assured of the quality that new planes have. Plus, most of these would even come with warranty.
Buying a private jet is no joke. It requires tremendous amounts of money. This is why you should do your research and plan the purchase properly.