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How to Buy a Private Jet




While you couldn't make the argument that private jets are necessarily affordable for the majority of the public, they have become a little less a fantasy for a small percentage of people and small businesses. Private jet manufacturers have been working hard to make plane buying less the province of the ultra-rich and more accessible to the general public. Buying a private jet takes a lot of consideration and research and is not something to be undertaken without considering the ins and outs of plane ownership. If you're thinking about investing in a private jet, here's what you need to know and how to go about doing it.
Instructions

Things You'll Need:

  • Computer Internet Pilot's license
  1. Step 1
    Get your pilot's license. Getting licensed to fly small jets is not like running to the DMV. Learning to fly takes time and serious consideration, not to mention money. Look for accredited schools in your area. Many small airports offer flying lessons and accreditation, but you can also look into private lessons from professional pilots in the industry. Be sure that your lessons are taught by authorized instructors and will come with a legitimate license.
  2. Step 2
    Do your research. Familiarize yourself with the private jet industry by talking to private and small plane owners and reading books on how to own a private jet. Do the legwork by visiting trade shows and exhibitions and asking lots of questions. Industry professionals and current owners are your best tools for learning about the industry and finding tricks of the trade.
  3. Step 3
    Get your credit in order. No matter how much money you have, if you're not buying a jet outright, you won't get anywhere without good credit. If you've had credit problems in the past, talk to the credit advisor at your bank to help get things in order or hire a reputable company to help get unnecessary demerits erased from your standing credit report.
  4. Step 4
    Find a plane. There are a million ways to get a private jet. The cheapest way to go will be to buy used planes, which you can find anywhere from legitimate plane sellers to sites such as eBay. Try to avoid dealers. Buying direct from manufacturers will get you the best advice and price.
  5. Step 5
    Look into partial ownerships and time shares. When buying a jet there are several ways to invest. Some companies offer partial ownership, meaning that they retain some rights to fly your plane when you aren't, while other companies might offer what would be the equivalent of a time share, where more than one person owns a plane. Payment and usage is split according to the percentage you invest. This is a great way to test plane ownership without spending millions of dollars.

    Tips & Warnings
    • Consider additional fees. Planes require a lot of attention and maintenance, and you should factor into your calculations hanger fees, gas, yearly maintenance, insurance and airport taxes.
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