Chartering a Private Jet versus Buying Your Own

Are you looking for a nice, private way to travel the skies?  If so, you might have assumed that you needed to buy your own private jet. While this is possible to do, do you know that you also have another alternative?  That alternative is the chartering of a private jet.  While it is nice to charter a private jet, as well as own your own private jet, you may be wondering which option is best for you. When it comes to making a determination, there are a number of important factors that should be taken into consideration.

Perhaps, one of the most important factors to take into consideration, when trying to decide whether you should buy your own private jet or just charter one is cost.  There are many individuals who say that the cost of chartering a private jet is high, however, it is important to remember the cost of a private jet.  Private jets can cost anywhere from a few hundred thousand dollars all the way up to a millions dollars.  Before you start looking into purchasing your own private jet any further, you need to make sure that you can afford the cost of doing so.  Do you have the funds needed to purchase a jet?  If not, do you anticipate being able to have those funds in the near future?  If you answer is no, you may want to look into to the chartering of a private jet, as it is a lot cheaper.

In conjunction with the above mentioned cost, it is also important to examine use.  How often do you plan on flying?  While the cost of purchasing your own private jet is high, you may be able to recoup the purchase cost if you plan on using it a lot.  If you plan in making multiple flights a year, like more than five flights, you may be able to start saving money right away.  In the long run, the amount of money that you save on airline tickets may very well end up paying for the jet itself.  On the other side, if you do not foresee yourself taking multiple flights a year, it might be better for you to charter a private jet instead of buying your own. Buying a private jet and rarely using it can be considered an unwise investment and even a waste of your money.

When deciding whether or not you want to purchase your own private jet or charter someone else, you also need to keep flying in mind.  Do you know how to fly a jet?  If you do not know how to, you have two options.  One of your options involves taking flying lessons and later becoming a certified, licensed pilot. Your other option involves hiring a private pilot to fly you wherever you need to go, whenever you need to do so. Whichever method you choose, you will end up spending money and a fairly considerable amount of money at that.  Combined with the purchase of a private jet, this may be more than you can afford. If that is the case, you will want to examine chartering a private jet. 

It is also important to touch on maintenance and repairs.  When it comes to flying in an aircraft, safety is extremely important. That is why private jets need to regularly be inspected.  Should a safety issue arise, that issue needs to be taken care of before the jet can be flown again.  If you were to purchase your own private jet, it would not only be your responsibility to pay for and schedule these inspections, but it would also be your responsibility to fix the repairs yourself or pay a professional to fix them for you. In addition to being a big responsibility, it can be a costly one.  Once again, that is another reason why you may just want to think about chartering a private jet.  Since you are not the actually owner of the jet in question, it is not your reason to keep it safe and up to code.

Although at first glance it looks like it is better to charter a private jet than purchase your own, there are also a number of advantages to owning your own aircraft.  When it actually comes down to making a decision, you are advised to keep the above mentioned points in mind, but you are also advised to keep your own personal preferences in mind as well.