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Expert Buying Guide: Choosing the Right Private Jet

Understanding which type of private jet you should buy is the first step to investing in an aircraft. It’s important to consider key factors such as comfort preferences, typical travel routes, aircraft range, fuel efficiency, and the highest number of passengers you plan to fly with. When you understand these details, you can choose an aircraft that meets your precise needs.

It’s also essential to work with an experienced broker when finding and purchasing a private aircraft. A buyer’s broker can help you navigate the complex market, find the type of aircraft you desire, verify its value, and negotiate contract details.

Benefits of Buying a Private Jet

Owning a private aircraft offers the following advantages:

Privacy

You and your traveling party can enjoy privacy and confidentiality when you own an aircraft. This grants you the ability to hold important discussions or conduct meetings securely. You also have the freedom to do as you please during your flight.

Comfort

A private aircraft offers enhanced comfort. Many models feature reclining seats and lie-flat options for ultimate in-flight relaxation. You can also choose or customize various models with your preferred amenities such as the following:

  • Refreshment centers
  • Full-service galleys
  • Lavatories
  • Electronics for in-flight entertainment and work
  • Productivity options
  • Offices and conference rooms
  • Cabin crew

Convenience

Private jets add convenience to your travels. Rather than waiting for a commercial flight to become available or scheduling a private charter, you can choose to travel when it suits you and your party best.

Safety

Flying via private aircraft is highly secure, making it ideal for high-profile business professionals or public figures. It also enhances safety for individuals with health concerns who want to avoid germs or allergens. In a private jet, you have full control over your surroundings.

Opportunity to Reduce Cost

You can rent your aircraft to interested parties looking for charter flights and help offset the costs of ownership.

When Should You Consider Buying a Private Jet?

When Should You Consider Buying a Private Jet?

Buying a private jet is an excellent option if you travel frequently throughout each year. Consider how many hours you flew in the past year and how many trips you have planned in the upcoming years. If your plans involve consistent flights throughout the year, investing in a private aircraft is practical.

What Should You Consider When Buying a Private Jet?

Choosing the right private jet depends on various factors such as the following:

Range and Typical Routes

A private jet’s range indicates how many miles it can fly before needing to refuel. Before choosing an aircraft, consider how many miles you typically travel and how often you are comfortable stopping for fuel. If you generally travel shorter distances, a lighter jet is sufficient. However, a long-range jet is ideal for transcontinental or international trips.

Number of Passengers

How many passengers do you typically fly with? Take your family, friends, and business partners into account. Depending on the types of trips you take, you may want to accommodate a large group.

Preferred Amenities

What type of in-flight comforts and conveniences do you need? You might plan to work in the air, or you may prefer to pass the time with entertainment such as music and movies. If relaxation is a priority, consider a jet with reclining sleeper seats. Food is another important factor because you can choose between a compact refreshment center and a fully equipped galley.

Aircraft Sizes

An aircraft’s size determines its range and how many passengers it can carry. Consider which of the following sizes best meets your needs:

Very Light

Very light jets (VLJs) are ideal for short runways and trips. They range about 1,000 miles and can seat four to six passengers. A VLJ features fewer amenities than larger jets but typically includes a private lavatory.

Light

Light jets, also known as small jets, are another excellent option for short trips. They range approximately 1,500 to 1,900 miles and can seat seven to eight passengers. A light jet’s amenities often include a private lavatory, reclining seats, a small refreshment center, and limited electronics.

Midsize

A midsize jet is ideal for longer or transcontinental trips. These jets range about 2,000 to 3,000 miles, and they can seat five to 10 passengers. You can enjoy amenities such as a spacious cabin, a refreshment center, a private lavatory, and in-flight work or productivity options.

Super-Midsize

Super-midsize jets are perfect for longer, intercontinental trips. They can seat eight to 10 passengers and range approximately 3,200 to 3,600 miles. A super-midsize jet features more luxurious amenities such as a larger refreshment center, in-flight baggage access, and enhanced in-flight entertainment or productivity options. Some super-midsize models also feature lie-flat sleeping options for ultimate comfort.

Heavy or Ultra-Long Range

Heavy or ultra-long-range jets are ideal for extended-range intercontinental trips. A heavy jet can typically seat nine to 16 passengers and ranges between 4,000 and 7,500 miles. It is also a highly configurable aircraft that you can customize to fit your preferences. Depending on your in-flight needs, you can include conference rooms, an enclosed bedroom, a private lounge, offices, full-service galleys, and a cabin crew. You can also add comfortable lie-flat sleeping options for multiple passengers inside a heavy jet.

Which Private Jet Is Best to Buy?

Which Private Jet Is Best to Buy?

Various aircraft makes and models offer optimal range, amenities, style, and fuel economy. Consider the following popular jet options in your search:

Cessna Citation

The Cessna Citation comes in various models of the following sizes:

  • Light: The Cessna Citation CJ3 is a light aircraft that offers exceptional short-field performance and can cruise at a speed of up to 400 knots. The CJ3+ is an enhanced version featuring advanced navigation, greater fuel efficiency, and additional safety features. The CJ4 model features large windows, enhanced power, and more space.
  • Midsize: The Cessna Citation XLS and XLS+ models provide optimal comfort and performance, and they can operate from shorter runways. The XLS+ boasts enhanced cabin management systems and soundproofing, and its seating arrangements are flexible.
  • Super-midsize: Cessna Citation’s Sovereign and Sovereign+ are super-midsize models with a range of up to 2,800 nautical miles. The Sovereign+ features enhanced avionics and cabin connectivity options.

Embraer Phenom 300

The Embraer Phenom 300 is a light business jet with a spacious cabin, comfortable seating, and large windows. It is popular for its performance, advanced avionics, and safety features such as runway overrun awareness.

Bombardier

Bombardier manufactures jets in the following sizes:

  • Midsize: The Bombardier Learjet 60 is popular for its sleek design, efficient operation, and spacious cabin. Its fast cruise speed results in shorter travel times, and it has a range of approximately 2,400–2,783 nautical miles.
  • Super-midsize: The Bombardier Challenger 300 and Challenger 350 are super-midsize models with ranges slightly above 3,000 miles. The Challenger 350 offers enhanced fuel efficiency, refined interior features, and advanced avionics.
  • Ultra-long range: Bombardier’s Challenger 605 is a large luxury aircraft that can seat up to 12 passengers. It has a range of up to 4,000 miles and cabin features such as a galley, sleeping accommodations, and in-flight connectivity.

Private Jet Cost

Before choosing and investing in a private jet, it’s important to understand the costs. Factor the following expenses into your budget before making a decision:

Upfront Cost

A private aircraft’s upfront cost varies by the model you choose and how well your broker negotiates the price. You must also factor in additional costs, such as prepurchase inspection fees and taxes, to determine your total upfront investment.

Annual Private Jet Cost

Annual Private Jet Cost

It’s also important to understand the annual cost of owning a private jet. Ownership involves the following annual and periodic costs:

  • Hangar fees: Purchasing or renting hangar space protects your aircraft from theft and weather damage.
  • Inspections and maintenance: A jet requires regular inspections and maintenance to operate efficiently and maintain longevity.
  • Fuel: Fuel is one of the main costs of aircraft ownership and use. Pay attention to a jet’s fuel efficiency before purchasing it to help reduce fuel costs.
  • Pilot and crew rates: Pilot and crew rates depend on your flight hours and whether you hire your own crew or pay into a pilot pool. Hiring your own crew requires you to pay each individual an annual salary. If you pay into a pilot pool, you have access to a group of pilots certified for your specific type of aircraft.
  • Registration fees: The Federal Aviation Administration (FAA) requires private jet owners to pay a registration fee for their aircraft upon purchase and renew it every seven years.
  • Airworthiness certification: An annual airworthiness certificate officially states that your aircraft is airworthy and meets safety standards.
  • Landing fees: You must pay landing fees each time you use an airport’s facilities and runways.
  • International permits: Some countries require you to pay a fee to fly through their airspace. If you plan to travel internationally, research which countries you plan to fly through and what they charge. These fees typically present as taxes on landing fee invoices.
  • Refurbishment and upgrades: You may wish to refurbish or upgrade your aircraft’s features in the future. Consider what upgrades you might want to perform and how much they typically cost.

Where to Buy a Private Jet

You can buy a private jet from various locations across the country. Before investing in an aircraft, it’s important to find a reputable company that offers expertise and a personal approach to the entire process. Working with a trustworthy company can help you maximize your investment.

How to Buy a Private Jet

Buying a private jet is a smooth, exciting process when you have the proper support. There are typically thousands of jets on the market, so it’s important to know what you’re looking for and how to find the best value.

Importance of Working With a Broker

Working with a buyer’s broker is vital for a smooth aircraft purchase. A broker is an expert who can help you protect your investment, assisting you with details such as:

  • Helping you navigate current market conditions.
  • Searching the market for aircraft models that meet your needs and budget.
  • Creating a short list of potential purchases.
  • Finding potential savings.
  • Performing aircraft maintenance history research to determine an aircraft’s value.
  • Completing prepurchase inspections to ensure the aircraft is in the expected condition before purchase.
  • Making an offer and negotiating for the best price and purchasing conditions.
  • Preparing your contract with the right legal resources.
  • Completing forms such as the bill of sale and registration correctly.
  • Minimizing tax liability.

Understanding the Process

When you approach a private aircraft broker to make a purchase, you may have a general idea of the type of aircraft you need or a precise model in mind. Your broker will ask specific questions concerning your budget, preferred amenities, expected flight hours, and maximum passengers to understand your exact requirements.

Next, the broker begins market research to find aircraft models that meet your criteria. You will receive a report with the following options and details to help you make an informed decision:

  • Price
  • Amenities
  • Aircraft identifiers
  • Days on market
  • Aircraft value reference (VREF) evaluations
  • Entire market overview

Full vs. Fractional Ownership

Full aircraft ownership means you have sole ownership over the aircraft and are responsible for associated costs. Fractional ownership enables you to purchase a share of an aircraft, divide its associated costs between multiple owners, and use it for a specific number of hours annually. Full ownership offers more freedom and convenience because you can use it whenever you need to. 

Generating Charter Revenue With Private Jet Management Services

Private jet management services help you offset aircraft ownership costs with charter revenue. Latitude 33 Aviation offers private jet management services to help you manage your aircraft and book charter flights to help you make revenue off of your investment. With this service, you can also take advantage of the following discounts:

  • Fuel
  • Fleet insurance
  • Parts and labor

Find a Private Aircraft With the Help of Latitude 33 Aviation

Finding and purchasing an aircraft is an exciting endeavor that requires skill and expertise. Understanding your needs and preferences is the first step to owning a private jet. Once you know what you’re looking for, you can begin your search with the help of Latitude 33 Aviation. You can trust us to approach aircraft transactions from an operator’s point of view, focusing on an aircraft’s true value beyond its price. 

Our experts have the resources and knowledge to help you navigate the complex aircraft market and focus on the details that matter most. We provide in-depth insights and valuations to achieve excellent financial results and ensure you find the best options available. Contact our aircraft experts to begin your search. 

It’s a Hot Summer for Private Aircraft Sales

There are many reasons why you or your company may be considering aircraft ownership if you are flying more than you anticipated this year. Summer travel continues to be a hot topic with all the uncertainty as the world opens back up. Major airlines continue to change schedules and drop routes. Commercial flights are fully booked with hundreds of passengers and thousands of touch-points you come in contact with during your entire flight process. Private jet charter welcomed many first-time flyers during 2020. Brokers, operators, and jet cards are introducing more blackout days, fully booked schedules on peak charter days, and higher fees. Increased booking windows and less availability of select aircraft are making an impact on the type of plane and experience you have come to expect. As the demand for travel significantly increased, so have private aircraft sales.

As a private jet owner, you are in control of the schedule, destination, and passengers on board – all without the wasted time waiting in long queues or navigating through crowded major airports.

Your aircraft is available whenever you want it, on your schedule.

BENEFITS OF OWNERSHIP

Tax Benefits

Potential for significant tax savings, including up to 100% bonus depreciation.

Privacy/Safety/Accessibility

Enjoy minimal touch-points, travel with only the passengers you choose, and have control over your aircraft’s schedule and availability.

Cost of Ownership

Managing your asset and planning for the future.

Tax Benefits

 

If your plan is to use your jet primarily for business, there are some potential tax benefits that can help offset the costs of the initial investment. On average, these deductions go above and beyond to help justify the sizable upfront purchase price.

Previously, businesses were able to recover up to 70% of a factory-new jet’s initial cost within three years time, based upon a disparity between the asset’s real-life rate of depreciation and accounting. In addition, a “bonus depreciation” was possible to speed up defined depreciation rates upwards of 50%. However, tax reform passed in late 2017 allows the potential for 100% bonus depreciation for the aircraft in the first year and applies to both new and used aircraft – a key benefit to those who can take advantage of the change. This means that after a business purchases a private jet, it can potentially depreciate the full purchase price of the aircraft immediately. Keep in mind, these potential tax deductions don’t apply to recreational/personal use of the aircraft. It is uncertain how long these tax incentives will remain in place, so many would-be aircraft buyers are choosing to take advantage of these current benefits before they go away.*

Privacy/Safety/Accessibility

Privacy

With the purchase of your own private jet, you can ensure a level of confidentiality and security above all other forms of personal or business travel. Whether it’s required due to your industry or a personal preference, owning your own aircraft places you in control of your personal and private travel requirements. Normally common among high-profile business professionals and celebrities, private jet travel is now becoming more widespread as privacy and personal information concerns are on the rise.

Safety

Private jet travel is extremely safe, but not all companies invest in the same level of standards. You want to work with a company like Latitude 33 Aviation who is among the top five percent of U.S. private jet charter operators to achieve the stringent ARGUS Platinum safety rating. However, safety concerns expand beyond the aircraft. You may have allergies or want to ensure a completely risk-free environment. You may experience sensitivities to perfumes or strong odors or have a compromised immune system. Perhaps you are concerned about your pet’s safety during flights or wary of not having the freedom to bring them along with you when traveling. Private jet ownership offers you the safety and convenience of controlling your surroundings by traveling consistently on your aircraft which is important for those with health concerns.

Accessibility

Accessibility is a huge deciding factor and an added plus for private aircraft owners. Are you having a difficult time securing an aircraft for your private charter flights? Are your charter rates or jet card rates continuing to climb? Are holiday and peak travel period surcharges exceeding your planned budget? Then ownership of a private aircraft is a perfect solution to remove limitations of accessibility for your personal or business life. Whatever your reason, owning a private aircraft will always supply the greatest opportunity for privacy, comfort, and flexibility. These preferences are major factors influencing the decision for many clients to move from chartering to private jet ownership.

Cost of Ownership

 

Attempting to become a jet expert overnight and purchasing an aircraft unassisted alone can be risky. Latitude 33 Aviation will help you select the perfect aircraft for your specific needs and introduce you to the latest aircraft models by industry-leading manufacturers. Whether you are looking for an all-new private jet or pre-owned aircraft for sale, our aviation company based out of Southern California walks you through the selection process to maximize your investment and minimize your risk. In some cases, the cost of ownership could possibly cost less than chartering or being a jet card member depending on your amount of travel.

When purchasing an aircraft, there are five primary categories of planes to choose from. The category is determined by factors like maximum range and passenger-carrying capacity:

Determining which aircraft category is right for you depends on various factors of your travel requirements. Are you traveling for business or pleasure? How many passengers do you normally travel with? How far away are your frequently traveled destinations?

 For example, if you fly shorter local trips between 100-600 miles, a turboprop is a good choice. However, if you travel with a larger party of 11 or more passengers and want to cover longer distances nonstop, then a heavy jet is best-suited for that mission.

If you are thinking about buying a jet to charter out or for personal use, it’s best to include the following in your thought process: average trip length, typical and maximum number of passengers that will be flying, potential savings from chartering, factory-new or pre-owned aircraft, desired acquisition budget, etc.

Finding a private jet to purchase can be a daunting task to pursue alone. It will most likely have you wondering if you’re vetting out all the best aircraft on market or getting a good deal as there are few aircraft valuation tools that are easily accessible. Latitude 33 Aviation makes the entire aircraft purchase process seamless and enjoyable for a buyer. Our dedicated in-house aircraft market intelligence team will build a custom aircraft market report with curated jet options aligned to your specific needs and preferences. Our data is based on a proven mix of real-time market updates, industry trends, market reports, realistic cost of ownership, aircraft history, and comprehensive investigative research. This allows you to make an informed and confident decision on the purchase of a factory direct acquisition or a pre-owned private jet. Information in these reports include the aircraft’s manufacture year, serial number and registration, aircraft location, total number of airframe hours, days on market, condition of paint and interior, pricing expectations, and more. Our experts are upfront about the condition of each aircraft for sale, as we closely analyze maintenance history and inspection reports for a sound purchase. We will also assist with negotiations, inspections, FAA documentation, closing, and delivery of your new aircraft. 

After purchasing an aircraft, there are ongoing costs for managing your private jet. These costs include but are not limited to hangar fees, fuel, landing fees, catering, hull insurance, liability insurance, crew and/or crew training, and average maintenance for parts and labor. When purchasing an aircraft, it is important to understand the total cost of ownership by evaluating not just the acquisition cost but also those for ongoing operations.

PARTNERING WITH AN EXPERT IN PRIVATE AIRCRAFT SALES

Latitude 33 Aviation is a fixed-fleet operator – not a broker, jet card, or app on your phone. We manage one of the newest and largest fleets of light, midsize, super-midsize, and heavy jets in North America. With over 120,000 hours of operational experience, we leverage our expertise to help you acquire the right aircraft that aligns with your mission profile and helps you gain the most out of your private jet asset for your business, family, and lifestyle. Deploying our management services will simplify the ownership experience and reduce your costs with fleet discounts, significant buying power to save on fuel, maintenance, subscriptions, and more. We understand details matter at each phase of the process – cash flows, account reporting, fuel savings, training, maintenance, and a flight crew that allow you to focus on what matters most to you. Let Latitude 33 Aviation help you make the most of your valuable time.

 Ready to purchase an aircraft?

At Latitude 33 Aviation, we are glad to help you through this process. Leverage an industry-recognized group of experts delivering professional, full-service private aircraft sales and acquisition services. Latitude 33 will handle every aspect of the private jet acquisition process for you including market analysis, aircraft selection, contract negotiations, legal and tax referrals, facility selection, on-site pre-buy representation, and jet pilot mentoring. We will gladly answer any questions and help you through the acquisition process. There has never been a better time to start the buying process than right now.

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