The Ins and Outs of Owning Your Own Private Aircraft

If you’re sick of your car, tired of catching the train and you don’t like hopping on and off commercial airliner flights, then perhaps it’s time you considered owning your own private aircraft. If you’ve got the money to pay for such a lavish form of transportation, why not? By investing in such a venture, you’d be able to fly wherever you want, whenever you want. What’s more, you’d be able to travel in a style that is completely tailored to your own tastes.

This isn’t necessarily a simple task to undertake, however. From the purchasing of your plane to its upkeep, when you own your own aircraft nothing is simple — the ins and outs on the matter can be found below, and, hopefully, they’ll help you make more sense of it.

Different ways to pay

Paying for your private aircraft is the first hurdle you need to get over in this venture — the first important decision you need to make in this instance is how you are going to pay. If you have the disposable income or cash in hand to be able to make your purchase outright, then go ahead and do just that. Doing so will see you avoid any dispute in the future as to who owns the aircraft, meaning you would have complete control over where it is kept while inactive and where it flies off too when it isn’t.

If you can’t afford to pay for your aircraft in one lump sum, however, then you do have the option to finance the purchase instead. If you choose this option, you’ll find yourself in a similar position to those who pay for a car on finance or those that take out a mortgage on a house. You’ll pay out an initial deposit before going on to make monthly payments until your aviation contract is complete. If you decide to such a course of action, however, you’re going to need a good credit score — if this means repairing your credit, then so be it. As you can see in this great review of Sky Blue, repairing your credit need not be a stressful or costly experience, and performing a repair will stand you in much better stead when it comes to applying for future finance.

Purchasing the right aircraft for you

There are many different types of private aircraft to choose from, and it’s important that you choose one that suits your needs. In this case, remember, bigger isn’t always necessarily going to be better. You have to be pragmatic with your choices, and you have to take into account how you are going to be using the aircraft. Do you have enough friends, family members, or co-workers to fill out the cabin space of a big craft, or will a smaller jet do just fine?

Also, you have to take into account what kind of runways you are going to be landing on. If you are going to frequently be landing on short ones, for instance, then you should avoid buying long-range crafts. You have to take everything from weight to range to speed to latitude into account, and you have to make a smart, economical choice.

Hiring a pilot… or becoming one yourself

Your aircraft may look the part, and it might come packed with all the amenities you desire, but it will be of no use if there’s nobody around to fly it. Without a pilot, it’ll just be a big waste of money!

Hiring a pilot is easy, and if you perform your aircraft purchase with a reputable company, then you will be provided with one right off the bat. Of course, you have to book your pilot in advance whenever you know that you’re going to need to journey out in your aircraft — you can’t just magic him or her out of thin air. If having to book in with your pilot becomes a problem for you, then you have two options: pay a pilot a salary that will see them remain on-call for you at all times, or become a pilot yourself. In regards to the latter, make sure to check out the ins and outs of becoming a pilot found here.

If owning your own private aircraft is your dream, and you have the funds to be able to afford such a venture, then what’s stopping you? If you do decide to take such a course of action, however, just make sure to remember the ins and outs of private aircraft owning that are detailed above.

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