Making a mistake buying a used 2 million light jet.
Is buying a private jet worth it. Based on these statements the private jet is not worth buying. After all chartering private jets is a luxury experience. For one it depends on how much money you have to spend how much you earn and how valuable your time is.
However there are some drawbacks many of which are financial. The price of the aircraft itself. Here are just some of the costs that come with owning a private jet.
The disadvantages of owning a private jet. Owning a private jet isnt just a status symbol and a way of avoiding security and lines and all of that. In my opinion yes they are.
Its likely that youll have to boast a high net worth to own a jet and even then they can prove to be a major drain on your resources. If you are flying less consider chartering until your needs require a private jet. Reasons Not to Buy.
A good reference to consider is if you are spending 300 hours or more a year in the air a private jet is a smart investment. Full jet ownership is rarely worth considering for someone flying less than 100 hours per year depending on the distances they travel. In this case chartering a private plane or helicopter for both the part and an engineer to install it makes economic sense.
Owning a private jet is not for mere millionaires. That means new billionaires and other UHNW buyers who have less experience in private aviation. A very senior executive travels to meet with multiple clients each week often several in.