How to Travel in Style in a Private Jet

Follow These Steps to Achieve Boujee and Business Air Travel

Make a Budget
When calculating how much you can afford to spend on buying an aircraft for sale, there are far more considerations than, say, calculating the amount of money you can fork over for a car.

Private jets come with a whole host of fees, especially if you ever plan to fly anywhere. That’s why it’s important to understand the annual cost of jet ownership, and how much you can plan to pay each time you take a trip aboard your plane. The cost of ownership even varies from jet to jet within the same class.

Fees you’ll need to pay, in addition to the cost of the jet, include:

• Insurance (including hangar insurance, international liability insurance, in-flight insurance, public liability insurance, passenger liability insurance, Combined Single Limit, aircraft hull insurance, and crew coverages)
• Hangar and storage fees
• Flight crew training and salary
• Maintenance program subscriptions and repairs
• Fuel
• A variety of costs for taking off and landing at airports, including ramp fees and landing fees
• Upgrades to avionics equipment and cabin
• And more

Once you know how much money you can afford to spend on the actual purchase price of the jet, plus on the annual fees associated with it, you can narrow down your options about the type of aircraft you want to buy. At this point, you’ll also want to look into financing options, should you need them.

Find a Reputable Dealer or Broker to Work With
When it comes to buying a plane, you need an industry expert on your side. Not just anyone can find aircraft for sale and negotiate a purchase. The private aviation industry is complex, and so is buying a jet! The process is markedly similar to buying a house, with extra steps and behind-the-scenes actions that must be completed before closing.

Your best bet is to search a list of IADA Accredited Aircraft Dealers to identify one you want to work with. The dealer or broker you choose is dedicated only to you, and works in your best interest.

Shop for Planes
You’re finally at the step in which you can take a look at your options of private jets available for sale. Many people opt to buy a used jet because of the more affordable purchase price, and because jets tend to last much longer than cars. The turnaround time is also much quicker than if you commissioned a new aircraft to be built by the manufacturer and delivered to you.

Remember the budget you created? You’ll want to find aircraft with purchase prices and annual expenses that fit within it. The most common private jet sizes flown for business and leisure travel — especially if you’re looking to travel in style — are light jets, mid-size jets, and large jets. Price increases by size, and larger jets are capable of traveling longer distances at higher speeds than smaller ones.

The aircraft dealer you hire to support your jet-buying process will help you identify listings of aircraft that will meet your needs.

Follow Aircraft Buying Procedures
The process of buying an aircraft is not a short, easy one. With multiple steps to be completed, your dealer and other industry service providers you’re working with will need you to be cooperative and responsive if you want to close on your jet in a timely manner.

In addition to securing financing for your purchase, you’ll also need to sign up for a variety of insurance policies and prepare to pay sales tax on your jet.

Just as you do when you buy a home, you’ll need to pay for an inspection of the jet to ensure the plane you’re considering is in suitable condition, and so you can negotiate repairs with the seller. Behind-the-scenes actions include a title search, preparing documents, setting up an escrow account, authorizing insurance binding, and more. To complete these, you’ll need to sign a registration application, approve documents, and provide the funds to purchase the jet.

After closing, the seller should transfer a variety of documents to you, including any warranties, maintenance tracking records, and more.

Experience the Thrill of Private Aviation
After you close on your private jet purchase, you’re ready to board your plane and take off to exciting destinations. And with no TSA security checks, the freedom to move about the cabin, and the safety and security of your own plane, traveling will certainly become easier and more enjoyable.