Over the years the change in economy has produced what was once considered a relaxed society, to a fast paced society that never stops. They’re always on the go: Entrepreneurs, businessmen, entertainers, you name it, with little time, and lots of money, the use of private jets has become a prominent feature in the lives of many.
Purchasing a private jet has become an emptor’s market. You have a selection of small turbo jets to large commercial jets that have been converted for private use. If you’re in the market to purchase a jet you might want to consider a few things before purchasing.
Air specialists advise that you consider the amount of travel time you spend in the air before buying. An amount of 350 – 400 hrs qualifies investing in the purchase of a private jet. If you don’t fly that many hours, but would still like to buy a jet, you might want to consider buying a jet as a fractional partner. This is where a jet is purchase by two or more interested parties. Anything pertaining to the ownership and care of the private jet is split equally.
$5 million on up is the going price for buying a jet today. Like owning a car, jets require maintenance and there are hidden expenses that can be quite high. Not only do you need your own flight crew, you also need fuel, insurance, catering services, and a hanger to store your plane when not in use. These costs can be anywhere from $100,000 to $200,000 a year depending on the size of your private jet. You can always use the services of a Jet Management company that will provide all of these services for you.
You also need to decide what size of aircraft you would like to buy. You have your choice in jet size ranging from light (capacity 8 passengers, around2,000 miles), midsize (capacity 9 passengers, around 3,000 miles), and large, (capacity 12 passengers, around 4,000 miles).
Once you’ve decided what type of jet you would like to buy, you can purchase your aircraft through a jet dealership, broker, or you can contact the jet manufacturer personally yourself.
Owning a jet by some may be considered frivolous and a mere play toy. But if money is no option, and time is short at hand, the convenience of owning your own private jet can’t be overlooked.
Copyright 2015 Jim Sterling - All Rights Reserved