Buying your own private jet is one of the ultimate forms of independence. You have access and free will to go wherever in the world as long as you’re allowed to. To get an get an executive jet charter, you?ll have to cough up some pretty big bucks. It’s not only an expensive purchase but there are also yearly costs for maintenance, pilot, airport storage, and fuel costs that will accumulate to hundreds of thousands of dollars. Prepare to spend about $4 million for own and charter a jet in addition to about $100 thousand per year just to keep it running smoothly.
Before you even put the money down for a private jet and ign the dotted line there are many things to consider. Such as:
- What size private jet do you need. This is a very important matter since it will tie into the overall cost of the private jet. The size of the private jet will also help you narrow down your options. Don’t just consider the amount of people the jet can seat. Think about how far you plan to travel and how much storage you will need in the aircraft.
- You will need a good lawyer. One thing that flies over people?s head is the fact that they will need to know and fully understand FAA-Compliance regulations and tax fees before they put a down payment to own and charter a jet. These are legalities you must adhere to. Having an experienced and knowledgeable legal adviser with you will help immensely. It makes the process much easier and will keep you from being fined down the line.
- Don?t forget to check and inspect the jet before purchase. Once you?ve made an informed decision as to which private jet to buy, get someone who understands the mechanics to check and inspect the aircraft before you making a final decision. This particular step is crucial and will help you avoid a lot of headaches down the line.
- Find a good management company to handle your affairs maintaining the private jet. The ultimate private jet needs the ultimate management company. Paying an organization that will help you maintain and oversee the yearly costs of the private jet is a great idea for veteran or newbie jet owners. Have the management company handle all the insurance, fuel, parts, maintenance, as well as pilot costs that comes with owning a vip private jet. This way you don?t have to constantly deal with the headache maintaining your bills. You can never go wrong with asking for help when you need it the most.
Now, if you have all of these steps accounted for, get your funds in order and prepare to finally join the millionaires club of executive private jet owners. This is a major investment that will surely pay off as long as it?s for the right reasons.