Should You Buy a New or Pre-owned Private Jet?
Flying in a private jet is the epitome of luxury, comfort and convenience. You have the entire plane to yourself along with your friends and family members. There is ample leg space, top-notch entertainment facilities, gourmet meals available at your call and beck; the list of facilities available is quite long. And we haven’t even gotten to the best part. You won’t have to spend hours in the check-in queues and luggage clearances.
The Rising Demand for Private Jets
Due to these abundant benefits, many people now prefer charter flights in Dubai over commercial ones. Also, a growing number of people have shown keen interest in buying private jets. Top companies, too, own business jets for their high-ranking officers and delegates who have to travel frequently for business meetings and other purposes. The growing need to own a private or business jet reflects the rising demand for private aircraft.
Two Main Choices
Private jet buyers usually have two choices at their disposal:
- New Private Jets
- Pre-owned Private Jets
Both these options come with certain perks (and a few drawbacks). Let’s delve deeper and determine which one is the right choice for you:
Reasons to Buy a New Private Jet
When you buy a new private jet, you can get your hands on newer models that come laced with modern facilities. These jets are technologically advanced and boast many advanced features that guarantee passengers’ comfort, convenience, and above all, safety.
The latest private jets for sale also have the best in-flight entertainment systems. Most of them are spacious and have ample room for passengers to travel in luxury depending on the model of your aircraft you have selected since size varies with every make and model.
Fewer Maintenance Issues
One of the major perks of buying a new private jet is that you won’t have to spend much time (and money) on its maintenance. On the other hand, when you buy a pre-owned one, you may need to bear the cost of its overhauling and maintenance from time to time, ensuring the aircraft is airworthy and is holding its market value.
Furthermore, pilot and maintenance training services are provided by private jet manufacturers when new aircraft are purchased from them. This training is vital, ensuring that the plane is cared for with proper training.
Another important factor is that newer jets come with warranty claims. Therefore, even if an issue crops out, you wouldn’t have to worry about it as it will be covered by the company, leaving you with minimum maintenance hassles.
Customization
Buying a new private jet allows the new owner to customize it any way they want. For example, the cabin space of Gulfstream G6550 can be tailored in three different layouts. Similarly, various other jets can also be personalized in different ways to suit the requirements of private jet travellers.
Fuel-efficient
Newer models of private jets are engineered in a way that they do not consume a lot of fuel, making them relatively cost-effective in the long run. But, again, the fuel consumption and efficiency can vary from model to model.
Reasons to Buy Pre-owned Private Jet
Pre-owned private jets are less costly as compared to brand new ones. The reason is simple – these jets have undergone depreciation, and how much they have been depreciated depends majorly on the number of hours they have flown and their model.
You may have to spend money on their overhauling and maintenance before you can fly them. It’s vital that you take this factor into account when flying a private jet, as it will give you a clear idea about how much money you are going to spend. If the total cost, including the price, maintenance charges, and the broker’s commission, is close to the cost of acquiring a new one, you may have to reconsider your decision.
Quick Delivery
Keeping aside the quality check and inspection, the process to buy a used private jet is often considered less time-consuming. The reason is that you wouldn’t have to wait for a long time before getting access to the aircraft, it will be available for you to fly right after purchasing it, provided there is no maintenance work pending.
On the contrary, you will have to wait for its delivery when you buy a new private jet. In the case of the selected aircraft type and its popularity, the wait time can be extended to 24 months. Such delays are because private jets aren’t manufactured in greater quantities. And then, the customization factor also comes into the picture.
The Verdict
Ultimately, it all boils down to your budget, requirements and preferences. The decision is quite straightforward if you have the budget – a new private jet. On the other hand, if your aim is to enjoy the luxuries of flying private without having to break the bank, opt for a pre-owned one.
You can contact Empire Aviation, the leading aviation company, whether you want to buy a pre-owned private jet or sell it, as we have over 25 years of aircraft sales experience.
