If you’re just getting into the aviation sector of your business, you may be a little bit unfamiliar with the territory. What I mean is this, most people who jump into the aircraft purchasing sector tend to believe that it’s nothing different than going to the car dealership and buying an automobile. This can be so far from the truth and will be explained a little bit further in this article.
One of the biggest differences of buying a car vs buying a private jet is price. Besides that the process is much different as well. In a lot of cases you are capable of walking up to the dealership getting a quick credit check and if you wanted to buy it right off the lot. Although, there isn’t much more extensive credit and background check that must be taken care of before anyone is capable of having a plane delivered to their business.
Below is a small list of a few things that you will encounter when leasing or buying a jet vs a car.
You see you when you buy a car the only person who need to take care of it as yourself. There are very few rules and regulations besides having a driver’s license and passing emissions tests. However, when you buy a new private jet, you’re going to have to have a management team, a pilot and a few other key elements before you are able to take your first flight.
When you buy a car it’s not as imperative to have a lawyer present as it is when dealing with a much larger purchase like a jet. Seeking legal advice is very important idea to consider especially if it’s your first time owning and aircraft. They can save you a lot of money and trouble down the road if you happen to have one or two issues.
Finally you need to consider where you’re going to keep your jet once you’ve made the purchase. In most cases when you buy a car you have a home or at least the parking garage that you’re able to store it when you’re not driving. Unfortunately not many apartments or homes have a place for a jet just lying around. Unfortunately you’re going to have to already have a place in mind or look at spending some more money on a hanger to keep your aircraft.
Find more info on purchasing right here.