How to Buy a Private Jet: A Step-by-Step Guide for First-Time Owners
Buying a private jet is a major lifestyle upgrade, but it’s also a big financial and practical decision. For most first-time buyers, the process can feel complicated. This guide breaks down the steps in a simple, realistic way so you know what to expect before making such a large commitment.
Step 1: Understand What You Actually Need
Before looking at any aircraft, think about how you plan to use it. A few questions to consider:
- How many people will usually travel with you?
- Are most of your trips short (1–3 hours) or long (5+ hours)?
- Do you need to land at smaller airports?
Your answers help determine whether a light jet (e.g., Citation CJ4), a midsize jet, or a long-range model (e.g., Gulfstream G650) is the right fit.
Step 2: Build Your Buying Team
You don’t buy a jet alone. A few key experts make the process smoother and safer:
- Aviation Attorney – handles contracts, registration, and legal details.
- Aircraft Broker – finds options, checks market prices, negotiates deals.
- Tax Specialist – helps structure the purchase to reduce tax burdens.
Step 3: Choose Between New or Pre-Owned
New jets offer the latest tech, a fresh interior, and factory warranty — but cost more and may involve wait times. Pre-owned jets are cheaper upfront but require a deep inspection to ensure the engines, maintenance records, and overall condition are solid.
Step 4: Arrange Financing & Insurance
Jet financing works differently from car or home loans, so specialized lenders are usually needed. You’ll also need aviation insurance, which must be finalized before taking ownership.
Step 5: Decide How the Jet Will Be Managed
Once you own the aircraft, someone needs to operate it. You can:
- Hire your own pilot(s) and maintenance staff.
- Use an aircraft management company to handle all operations.
- Put the plane on a charter program to help offset costs.
Comparison: New vs Pre-Owned Jets
| Factor | New Jet | Pre-Owned Jet |
|---|---|---|
| Purchase Price | Highest | Typically 30–60% cheaper |
| Delivery Time | Months to years | Immediate |
| Maintenance Costs | Lower initially | Varies based on age and condition |
| Customization | Fully customizable | Limited unless refurbished |
Understanding the Real Cost
Aside from the purchase price, owning a jet comes with predictable ongoing costs such as hangar fees, pilot salaries, insurance, and fuel. A simple rule of thumb: plan on spending about 5–10% of the jet’s purchase price every year to operate it comfortably.
Frequently Asked Questions
Is buying a private jet worth it?
It can be if you fly frequently (200+ hours per year) or value convenience, privacy, and time savings.
How long does the buying process take?
Anywhere from 30 to 120 days depending on inspections, financing, and availability.
Can owning a jet actually save money compared to chartering?
In some cases, yes — especially with heavy use — but for most people who fly under 150 hours a year, chartering is more cost-effective.
Do private jets require special maintenance?
Yes. Maintenance must follow strict aviation regulations, and inspections can be expensive.