Jets – Lease, Buy or Charter
You’ve come to the point that you’re ready to be done flying commercial. Business class – even first class – on a major airline just can’t compare to the service, experience and convenience of having ready access to your own private jet. Being on others’ schedule costs you more than it’s worth – or, even if it doesn’t, is an incredible pain.
You’re ready to take the plunge. But should you look at jets for sale, jet charters or jets for lease? There are advantages to each, of course.
Jets for Sale
The obvious advantage to buying a jet outright, just like buying anything else outright, is that it belongs to you. It’s all yours from the time you take ownership until the time you decide to divest yourself of ownership.
The disadvantage is that the jet is yours from the time you take ownership until the time that you decide to divest yourself of ownership – and generally for whatever additional time it takes to find someone else who wants the now used (or more used) jet. That’s not a problem, of course, as long as you’re prepared for it.
If you decide to buy a jet, you need to decide whether to buy new (advantage: you can get exactly the jet you want, with exactly the features you want, with no wear, tear or mileage) or used (advantage: you can save a short ton of money and, if you’re like most, can still find what you’re looking for, or something very close).
Jets for Lease
When you lease a jet, much like leasing a car, you essentially finance the difference between the value at the beginning of the lease and the projected value at the end of the lease. There are lots of great jets for lease, both new and used.
The advantage of jets for lease is that you generally end up paying less than you would pay for buying the jet outright. The disadvantage is that once the lease is up, you need to either lease (or otherwise secure) another jet, buy the jet at what was the projected value or do without a private jet for a while.
Jet charters allow you to take a private jet without buying – or even leasing – one. Essentially, you’re renting the jet and its crew for your trip. It still has most of the advantages of owning or leasing your own jet with none of the typical concerns regarding maintenance and repairs. The downside, if you take frequent trips, is that it can be more expensive.
Which is right for you? That depends on your individual needs. At Western Aviation, we’re happy to explore all of the options with you and to help get you into fantastic jet sales, jet leases or jet charters.