Light jets

So You Want to Buy a Light Jet? Here’s Everything You Need to Know

Sounds glorious when you are free to jump on a plane any time and go anywhere. However, purchasing a private Light Jet is a major decision that must be thought through and planned for well in advance. This post will explain everything there is to know about buying a light jet.

What Classifies as a Light Jet?

A light jet is a very small, private jet aircraft that typically holds 6-8 passengers. Light jets are significantly smaller and lighter than conventional private jets. Light jets have a max takeoff weight under 10,000 lbs.

Light Jets Typical Advantages:

• Seating for 6-8 passengers
• Top Range of That would be close to 1,500 nautical miles
• Maximum speed of 400-450 mph
• Comparatively lower fuel consumption to larger jets

Light jets are even more popular and primarily used for personal and business travel. Similar benefits to the turbine-powered propeller planes, but at higher speed and range than most of those aircraft, and lower operational costs than midsize and large cabin jets. Most small regional airports can be reached by light jets.

How Big Of A Light Jet Do You Need?

The first step in your light jet selection process is discerning what size aircraft you require. Very light jets (VLJs) generally seat 4-5 passengers, while larger light jets offer capacity for 6-8.

Factors like your typical passenger load, range needs, baggage capacity and overall budget will determine what size is best. Here is an overview of the seating capacity and capabilities of very light vs. light jets:

Very Light Jets:

• 4-5 passengers seated capacity
• 1,000 to 1,400 nautical miles range
• Less than 10,000 lbs max takeoff weight
• Examples: Eclipse 500, Cirrus Vision SF50, HondaJet

Light Jets:

• Seats from 6-8 passengers
• Range of up to 2,000 nautical miles
• MTOW 10k-20k lbs
• Examples: Cessna Citation CJ3, Embraer Phenom 300 and Learjet 45XR

If you typically fly solo or carry only 1-2 passengers, a VLJ may be what you need. If you need to carry more passengers, or if your flight time exceeds 2 hours light jet are a better choice with 6-8 seats. Think about what you will need to use now and in 5-10 years time.

How Much Do Light Jets Cost?

Prices for light jets range from approximately $2 million for a pre-owned very light jet, to about $8-$10 million for a new light jet.

Below are approximate purchase prices for some of the most popular models:

• Eclipse 500: $1 - 2 million
• Cessna Citation CJ3: $4 - 7 million
• Embraer Phenom 300: $7 - 9 million
• Learjet 45XR: $3 - 5 million pre-owned

Anyway, purchase price is just part of the cost equation. Don't forget to add in the price of hangar fees, maintenance, fuel, pilots, insurance and any other operational expense related per trip.

Operating Cost Differences between VLJs and Light Jets

Operating costs can be lower for very light jets than larger models of light jet. Some of the differences you may notice are:

• Less fuel: VLJs will consume 30-40% less fuel than a light jet with the same 6-8 passenger seats. This amounts to significant savings on fuel in the long run.
• Cost of Maintenance: The cost to maintain VLJs is likely lower than larger light jet models because the engines are smaller, and they have fewer (or no) complex systems.
• Insurance rates: A VLJ could cost 10-15% less to insure than a larger light jet. The fewer seats, the lesser the liability
• Less need for crew: Many VLJs can be flown by a single pilot. Pairing larger light jets require two pilots.
• Landing charges: VLJs are able to access more regional airports with cheaper landing/parking costs. Larger light jets are limited to large airports.

Although VLJs cost less to operate, you must factor in fewer people and bags. Do remember to assess the costs in accordance with your requirements.

Selecting the Proper Size Light Jet

Now, how do you determine which size light jet meets your travel needs? There are several important things to note here:

• Passenger Count: Are you mostly traveling solo or with a significant other, or do you need space for more?
• Range: How far do you plan to fly with your new set of wheels? Pick a plane with good range capabilities
• Baggage history: You want space for golf based clubs, ski devices or any other sizeable gear? Check baggage capacity.
• Amenities: Compare the galley, lavatory, stand-up cabin, and entertainment options. VLJs offer less amenities.
• Airport considerations: Ensure the jet can access the most common airports you intend to fly.
• Operating expenses: Study the per-hour operating costs for both VLJ and light jet types, assuming you can predict your number of annual flight hours.
• Future Needs: Consider possible changes in your travel behavior down the line. Will you need more capacity?

You need to consider each one of these factors thoroughly. If those needs are more suited for a light jet, then it may be worthwhile making that extra engine investment, up front.

Popular Light Jet Models

Most major manufacturers have some very high quality light jets available. Below is a short summary of some of the more popular models, spanning several sizes and capabilities:

Very Light Jets

• Eclipse 500 - A sophisticated carbon fiber aircraft seating 4 and a range of 1,125 nm. Highly fuel efficient and agile. From $1 million used.
• HondaJet Elite - Innovative lightweight design and over-the-wing engines provide great performance. Seats 4 passengers with a 1,437 nm range. Approximately $4.5 million new.

Light Jets

• Cessna Citation CJ3 - Workhorse of the light jet market, with seating for 7 and 1,840 nm range. Proven reliability and low operating costs. Around $5 million pre-owned.
• Embraer Phenom 300 - Cutting edge avionics and fly-by-wire systems in this roomy 6 passenger jet. 1,811 nm range and 400 mph cruise speed. $9 million new.
• Learjet 45XR - Iconic Learjet performance with modern upgrades. Seats 6 with a range of 1,967 nm. Impressive climb and speed. From $3 million pre-owned.

How to Finance Your Light Jet Purchase

Almost no one pays cash up front in the full amount for a light jet. Some also offer financing to make your path to ownership even more affordable.

For example:

• Term loan - banks lend up to 80% the value of aircraft. You make the balance payment in advance
• Subscription lease - A monthly fee to operate the jet without any ownership
• Finance lease - The payments go toward owning the jet when the lease is over. Minimal down payment.

Make sure your finances are lined up with good credit and proof of funds and income. Lenders would look into your ability to afford it.

The Light Jet Buying Process

The light jet purchasing process: an overview Once you know what kind of aircraft is right for your needs

1. Get a broker - Good brokers will fight for you to get the best deal.
2. Select new or used - New includes full warranty and custom choices. Used goods bring more value and faster delivery.
3. Reserve demo flight for the model – schedule the time test flight the jet.
4. Options - Specify personalized paint colors, interior fabrics, entertainment systems and more are available
5. Full pre-purchase inspection - A detailed mechanical examination detects problems.
6. Financing - Finalize the terms of purchase with your lender.
7. Negotiate final price - Broker will work to get you the best possible deal.
8. Sign purchase agreement - Review all terms thoroughly before signing.
9. Wait for delivery - Light jets take 3-6 months from order to delivery. Time for a pre-purchase hangar!

Purchasing process takes a lot of time. When working through each step, collaborate closely with your broker and advisors.

Hope this helps!