- Decide if buying a personal jet will be cost effective for you.
- Flight experts state you should be flying a minimum of 350 flight hours a year before you consider buying a new jet.
- Fractional ownership may be a better option, depending on your flight hours and budget. Fractional owners purchase shares or hours through a management company or personal airline company, which handles maintenance, hires the flight crew and takes care of all the other details, then sends a plane out to you when you are ready to fly.
- Determine the size and range of the personal jet you need.
- The smallest jets typically carry 4 passengers with a range of 2, 000 to 3, 000 miles (3, 200 to 4, 800 km) without refueling. The largest jets carry upwards of 12 passengers with a range of 4, 000 miles (6, 400 km). Between these are models that may carry 8 passenger and fly as many as 7, 000 miles (11, 000 km).
- A very light jet (V.L.J.) is a new class of jet that's less expensive to buy and cheap to operate. V.L.J. aircraft can land at municipal airports closer to your destination instead of forcing you to deal with the large commercial airports.
- Consider all costs when determining your budget. Yearly costs to maintain, fuel and fly a personal jet can run to $100, 000 or more.
- Call private jet dealers when you have decided on passenger capacity, range and price. Dealers sell a variety of models from different manufacturers and can help you find the jet you need.
- A used jet may require several thousands of dollars in upgrades to bring it up to current aviation standards before you can fly it, which may mean that it's not the bargain it seems to be.
- Repossessed jets can be purchased at steeply discounted prices and are usually in good condition.
- Find financing for your purchase if needed. You can contact lenders directly or go through a broker, who already knows the lending practices at various institutions. Loans for personal jets can be amortized for as long as 25 years, depending on the age of the jet.
- If you typically fly along with a group, whether it's family or coworkers, chartering a flight my be another option that's economical. Charter jets can hold more passengers, and the charter company can arrange for ground transportation to and from the airports.
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