How can you afford a private
people, a Learjet model will do the job. This jet is
like an oversized SUV - big enough for your family and a few
friends to take that trip to the beach and avoid the traffic
on Friday evening. Plus, you don't have to rush home on
Sunday evening and again get stuck in the traffic. You
can simply fly back on Monday morning and still be at
work. It will run you in the neighborhood of $10 million
but this can go down significantly if you buy a used jet or
you select fractional ownership (more on that later).
If you are
truly the jet-set type and want to
do business while on the
plane or want to let your business associates and employees
use it, expect to spend about $40 million (these models are
made by Boeing, Cessna, Gulfstream, etc.) but we will not get
into the details here since it is often a business decision
(buy/lease/charter). It may be pointed out, though, that
if your business needs to fly small groups of people almost on
a daily basis, most cost-benefit analyses show that a private
jet turns out to be cheaper than
flying business class.
understand the concept of timeshare, you know exactly how
fractional ownership of a private jet makes it
affordable. Since it is unlikely that you will be using
your jet as you use your car, it is best to let others use it
while you are sitting in a dull and boring office all
day. Which means that with all the other options like
financing, you can actually "own" a private jet for
essentially few thousand dollars a month.
What else to consider when buying a
Like a car or a home, you will need to
carry insurance and pay for maintenance.
If you don't have a pilot's license, you
will need to pay a pilot. With all the layoffs in
the airline industry, pilots are desperately looking for
work but many of them still like to get paid a lot of
money. So negotiate hard; the airline industry in
the US is basically headed south. I expect a lot
more layoffs and consolidation in the industry, both of
which mean more laid off pilots who will be willing to
work for a lot less (while you and I can do lots of
things, these poor pilots know only one thing and have no
transferable skills at all).
Do your research online first. Even
check out eBay. Get smart about jets (particularly
if you do not have a pilot's license and know only little
Look on the Internet for trade shows and
exhibitions. Attend one or two of them to see new
models and check out the prices.
Avoid a dealer if you can. Buy
directly from the manufacturer. They will be happier
to serve you.
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