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New vs. Used aircraft for busy individuals

On Behalf of | Jun 13, 2024 | Aviation Law |

Does the allure of private aviation beckon you as a busy individual? You can save a great deal of time by skipping crowded terminals, security lines and layovers each time you have to attend a business meeting in another state, country or continent.

Is it time to replace the hustle of airports with the freedom to depart on your own schedule? While the benefits are undeniable, a crucial question arises: should you purchase a brand-new aircraft or explore the pre-owned market?

The allure of a new aircraft is undeniable

There’s a certain magic to a brand-new aircraft that you cannot deny:

  • It gleams with pristine paint
  • It boasts the latest technology
  • It carries a manufacturer’s warranty for peace of mind

Furthermore, new aircraft models come equipped with the most fuel-efficient engines. This can help ensure you enjoy lower operating costs over time. Moreover, you can leverage financing options to acquire your new aircraft with long repayment terms and favorable interest rates. You also get the ultimate bragging rights – your aircraft can reflect your cutting-edge approach to business and life.

Beyond the showroom shine

Even though a new aircraft holds undeniable charm, there are factors you may want to consider beyond the initial purchase. The most significant drawback at the top of your mind is most likely the substantial upfront cost.

Like any other vehicle you have in your collection, a brand-new aircraft would depreciate rapidly in the first few years. Suppose you’re someone who likes to change things up every couple of years; you’ll likely lose a significant chunk of your investment if you decide to sell your aircraft within the first five years of its purchase. You should also know that customization options for a brand-new airplane are limited. You’ll get what the manufacturer offers rather than tailoring the aircraft to your specific preferences.

Pre-owned gems are a compelling alternative

Used aircraft obviously come at a significantly lower price point. With proper budgeting, you can potentially access a larger, more capable aircraft for your traveling needs. Furthermore, you can explore models whose prices would be beyond your budget if they were brand new. The key is looking for a pre-owned aircraft that was meticulously maintained and has undergone impressive upgrades.

Since purchasing an aircraft is a significant undertaking, seeking appropriate guidance can help you make an informed decision. Whether you prefer the gleaming allure of a new model or the value proposition of a pre-owned one, your support team can help you conduct necessary due diligence.