Buying a jet should be an enjoyable and exciting process, but there are details that can make it complicated and time consuming. Thinking through some or all of the below can make the process will be much smoother and will allow you to enjoy the process, and your jet, that much more.
- Charter as many different types of jets as you can. It is much cheaper to charter a jet and realize you do not like it than it is to purchase a jet and decide you do not like it. Chartering will show you which personal preferences you feel strongest about in regards to your cabin. Charter in a variety of circumstances – different distances and different numbers of passengers. This will inform you more than almost anything else as to what jet will suit your desires best.
More info: Determining the Right Jet for You: Cabin Size
- Think about how you will own your jet. How will you maintain, staff and operate it? It is tempting to buy a jet solely based on a low price, but you need to think about the ownership of it. Are there maintenance facilities near where you are based that the jet can be serviced at? Are there any parts availability issues for this aircraft model? Are there available pilots, and will they need special training? Does my management company have anything in place to operate this aircraft model? These are all scenarios that need to be considered before purchasing your jet if you want to avoid unexpected costs and delays during your ownership.
More info: How to Choose the Best Operator
- Consider how you will actually use your jet. Look at the flights you flew the previous year and determine what the majority of those flights entailed. Perhaps you usually flew with 4 passengers at an average range of 1200 nautical miles, so you would want to highly consider a mid-size jet such as the Cessna Citation XLS or Embraer Phenom 300. If your most common journeys include 7 colleagues with a range of over 2800 nautical miles, you will want to look at large cabin such as the Bombardier Challenger 605 or the Gulfstream G280. Once you look at what the majority of your fights are composed of, you can narrow your search to the jet that will satisfy your needs best.
More info: The Best Thing You Can Do before You Buy a Jet
- Start the conversation about financing as early as possible. If you are obtaining financing for your purchase, the sooner you begin discussions with your bank the better off you will be during the transaction process. Finance approval can take anywhere from a few weeks to a few months. Your bank will have its own set of requirements for a transaction in order to provide funding, and this can take much longer than expected to complete.
More info: Tips on Aircraft Financing
Your aircraft broker should assist you with these items and answer any questions you have regarding them. Use their experience and expertise to your advantage to help the process go smoothly.
Articles are written from real world experience by Colibri Aircraft’s individuals. If you have any questions or comments about the topic of this blog, please feel free to contact us at enquiries@colibriaircraft.com
