The cost of private jet in the US
The value of private jets changes as time goes on, which is also similar to other assets, therefore affecting the cost to buy a private jet.
Depending on the market conditions, the age of the aircraft, hours on the engines and airframe, Acquisition Cost, Operating Expenses, Regulatory Compliance, Insurance costs, along with new aircraft coming to market, the values will all be impacted.
Pre-owned private jets can be purchased for as low as a quarter of a million dollars ($250,000), while ranging up to $75 million for a brand-new example of the latest and greatest aircraft.
Acquisition Price
The acquisition cost of a private jet is the amount that one needs to pay in order to buy just that aircraft. Paying this cost does not include costs such as legal fees, pre-purchase inspections, test flights, registration, and many more.
It is just the cost price of the aircraft. The initial purchase price of a private jet can vary widely. Light jets(small jets) are priced around $2 million, while larger, more sophisticated models can cost a lot of millions dollars. The brand, model, age, and condition of the aircraft all play a role in determining the acquisition cost.
For example, when you look to buy a car you have the cost of the car. And then, once purchased, you have other expenses that you must pay in order to actually own the car and register it for road use.
Private jets operate in a similar way, albeit with more complexity and higher costs involved.
Therefore, when you are calculating the amount that you can spend on purchasing a private jet, it is good to keep a margin of safety for these additional fees.
As a result, when prices are mentioned for the cost to buy a private jet, this refers to just the aircraft itself and nothing more.
New Private jets Vs Pre-Owned private jets
Apparently, When it comes to comparing these two, it is obvious to say pre-owned private jets are less expensive than that of New private jets. But that is not through, The reason is simple – pre-owned private jets have undergone depreciation, and how much they have been depreciated depends majorly on the number of hours they have flown and their model. You may have to spend money on their overhauling and maintenance before you can fly them other than buying a new jet.The cost involved in buying new private jet is different from the acquisition cost. Buying a private jet, a consideration that needs to be made is whether you are looking to buy a new or pre-owned aircraft.
Of course, this concept will be familiar to most people. Similar to the scenario used to purchase a car, there are benefits and drawbacks to each example.
Moreover, if you wish to purchase a new aircraft you will be waiting a significant amount of time in order for it to be delivered. Therefore, purchasing a pre-owned aircraft will allow you to get in the sky in your very own aircraft sooner.
Therefore, in terms of affecting the cost to buy a private jet, pre-owned aircraft will not always be less expensive than a new aircraft.
This is an important consideration to make when looking at the cost to buy a private jet.
Aircraft Average New cost
Cirrus Vision jet $3million
Hondajet Elite S. $5.5million
Nextant 400XTi $5.2 million
Cessna Citation cj4 $4million
Learjet 75 Liberty $12million
Pilatus pc-24 $11million
Cessna Citation Sovereign+ $19million
Embraer Praetor 500 $16.3million
Nextant 604XT $8million
Embraer Praetor 600 $21 million
Aircraft
Average Pre-Owned
Beechcraft Premier I
1,800,000
Bombardier Challenger 300
13,216,667
Bombardier Challenger 350
20,377,778
Bombardier Challenger 604
8,300,000
Bombardier Challenger 605
14,000,000
Bombardier Global 5000
20,525,000
Bombardier Global 6000
32,170,000
Bombardier Learjet 31A
829,231
Bombardier Learjet 35A
635,882
Bombardier Learjet 45
3,065,000
Bombardier Learjet 60
2,400,000
Cessna Citation Bravo
2,100,000
Cessna Citation CJ1
2,225,000
Cessna Citation CJ2
3,100,000
Cessna Citation CJ3
6,291,667
Cessna Citation CJ3+
8,410,000
Cessna Citation CJ4
8,671,429
Cessna Citation Excel
4,271,429
Cessna Citation I
1,084,000
Cessna Citation II
854,444
Cessna Citation III
839,000
Cessna Citation Latitude
16,200,000
Cessna Citation M2
4,640,909
Cessna Citation Mustang
2,425,000
Cessna Citation Sovereign
8,320,000
Cessna Citation V
965,000
Cessna Citation V Ultra
1,483,333
Cessna Citation X
6,282,353
Cessna Citation XLS
6,583,333
Cessna Citation XLS+
10,250,000
Cirrus Vision Jet SF50
2,850,000
Dassault Falcon 2000
6,569,231
Dassault Falcon 2000LX
16,400,000
Dassault Falcon 50
1,673,529
Dassault Falcon 7X
30,770,588
Eclipse 500
1,233,333