Buy a Private Jet If You Have a Need For Speed
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Over the years the change in the economy has transformed 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 a caveat emptor (buyer beware) 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 buy 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 for 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 these days. 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 a choice in jet size ranging from light (capacity 8 passengers, around 2,000 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 purchase, you can buy your aircraft through a jet dealership, broker, or you can contact the jet manufacturer personally yourself.
Owning a jet may be considered by some to be 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 2007 Jim Sterling - All Rights Reserved
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