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Your Ultimate Buying Guide to Owning A Very Light Jet
The thought of owning a private jet is all but unthinkable for most, however, it shouldn't be! Very light jets (VLJs) are an entire new class of aircraft that will make owning your own jet a reality.
What Qualifies as Very Light Jets?
Very light jets (VLJs) are a class of small private jet aircraft whose maximum takeoff weights do not exceed 10,000 pounds.
Relative to conventional private aircraft, VLJs promise lower purchase prices, operating costs and qualified pilot training requirements.
This makes them a very attractive purchase for those who are interested in their first private jet, whether this is individuals or businesses.
Popular very light jet models include the Eclipse 500, Cirrus Vision SF50, Embraer Phenom 100 and HondaJet.
Powered by cutting-edge technology these planes comfortably seat 4-7 passengers and can fly over 400 mph to distances of up to 1,500 nautical miles. ILJ do not possess ranges or payload similar to larger business jets but fly faster and with greater comfort than turboprop aircraft.
Benefits of Very Light Jets
What are the primary benefits of VLJ ownership over other private aircraft? These are just a few of the reasons why VLJs will appeal:
Purchase price
The cost of a new VLJ is generally between $2-$3 million. That's a fraction of the $10 million+ price to pay for a new midsize jet, though still a major investment. Similarly, VLJs function with reduced operation costs, as well.
Depending on the type and model of the plane, you should be able to find fuel burns as low as 2-3 gallons-per-mile. Operational and storage costs are also cheaper.
Performance
With state-of-the-art avionics and other improvements, newer VLJs come with aerodynamic designs optimized for speed and fuel economy.
Cruise at over 400 mph and you are getting to your destination twice as fast than by turboprop. They can takeoff as short as 3,000 feet and climb to any flight levels up to 41,000 feet.
Safety
VLJs are held to the same stringent FAA safety regulations as larger private jets. These include redundant essential systems, company backup controls, a ballistic parachute and advanced situational awareness avionics.
A VLJ that incorporates the latest technology may even offer a higher level of safety than an equivalent-size turboprop aircraft.
Pilot Certification
Applicants for a VLJ certificate must hold at least a private pilot certificate with an instrument rating. It's also less training than needed for bigger jets.
Many VLJs are also approved for single pilot operation, eliminating the need for a second crew member depending on who is in the left seat, therefore greatly reducing the cost of training and staffing.
Comfort
Although compact, VLJs do not lack for comfort. Cabins are pressurized and climate-controlled for a smooth experience, with ergonomic seating, entertainment options, and other amenities. Cabin noise and vibrations are also reduced as engines are mounted on the wings.
Customization
Pretty much every VLJ enables plenty of interior customization. Choose from luxury options such as leather seats, cherry wood finishes, lighting configurations, entertainment systems, and other aesthetic customization of your aircraft. And exterior paint designs may also be tailored.
New vs Used Very Light Jets
After reaching that conclusion about wanting a VLJ you've got the new vs. used decision to make next. So, what are the trade-offs?
New VLJs
- Full warranty and support from manufacturer
- Latest avionics and technology
- Customize to your specifications
- Higher purchase price
- Longer lead times for delivery
Used VLJs
- Significant cost savings over new
- Faster delivery time
- Proven safety record over time
- May have useful upgrades already installed
- Less customization options
- Older avionics/technology
- Limited warranty remaining
VLJs cost from about $2M for an Eclipse 500 to almost $3M for a Cirrus Vision. However, a few used VLJs can be nabbed for below the $1 million. Ownership may also be a more realistic possibility by choosing used.
Buying new, on the other hand, gets you a customized VLJ direct from the factory. New also means latest features, and a full warranty for peace of mind. Consider new vs used for your budget and needs.
Costs of Owning a Very Light Jet
VLJs are a major investment, though not as costly as larger private jets. Before you buy your own aircraft, it is essential to know all the costs of ownership:
Purchase price - Be sure to shell out $1 million to 3 million+ for a VLJ There are financing programs to assist you with this part.
Fuel - Fuel consumption is 2-4 gallons per mile, so plan $100-$200 for every hour of flight time. You could be on the hook for six figures a year if you are accumulating hundreds of flight hours.
Insurance - For a standard VLJ, an annual insurance cost ($15,000-$30,000) would be typical. You have to have hull loss and liability coverage.
Maintenance - Nearly $35,000 Annually for Scheduled Inspections and Repairs Overhauls for the engine go $200,000+ and are a necessity every 2,000 hours or thereabouts.
Hangar Storage - Storing your VLJ in a private hangar will run anywhere from $15,000-$30,000+ per year depending on where you live.
Training & Licensing - A private pilot certificate plus instrument rating is required for the pilot in command, which means training costs total $15,000-$20,000.
Other Expenses - Onboard catering, WiFi and satellite phones, landing fees, and other costs can run into thousands of dollars a year.
Top Very Light Jet Models
Now, let us review some of the most popular very light jets available in the market from top manufacturers:
Eclipse 500
The Eclipse 500 is a twin engine jet with up to about 4 seats that was one of the first VLJs developed. The package melds 430 mph cruise speed with a 1,125 mile range and an astonishingly low 3.7 gallon per hour fuel burn.
The company went bankrupt back in 2008 but over 260 Eclipse 500s were built so used models can be found for under $1 million.
Cirrus Vision SF50
The Vision SF50 is the first single engine civilian jet to be FAA approved in the world and it maintains that signature single engine design. The interior, with styling that mimics modern airliners, accommodates up to 5 passengers.
The best part is that it has some one-of-a-kind safety features, like a whole airplane parachute system. Flight speed reaches 345 mph, as more than enough for a range of 1,100 miles. Pricing starts anew at $2,000,000.
Embraer Phenom 100
The Phenom 100 was Embraer's entry into the VLJ segment. This twin engine seats 4 and delivers a range of 1,178 miles.
It has ample room inside for a VLJ and the aircraft performs remarkably well on the takeoff and landing scale. Used Phenom 100s can be found from the $1.5 million range upwards.
HondaJet HA-420
Honda Aircraft is known for its approach to innovation, and this entry in the VLJ segment blends both performance and efficiency. It has a Natural Laminar Flow wing and fuselage-mounted engines.
HondaJet optimized design offers up to 1,600 mile range and a class-leading cruise speed of 486 mph. That $4.5 million price tag puts it above ordinary VLJs.
Cessna Citation Mustang
It is quad seat entry level jet from Cessna with cruise speed of 390 mph - range of 1,150 miles.
Though Cessna ceased production of the Mustang long before this research was conducted, plenty of late model low hour examples remain on the secondary market and likely achievable between $1 million to $2 million. It has a Citation M2 successor with increased range and useful load.
Takeaway
Make sure to have an aviation insurance broker ready to provide liability and hull damage coverage before you take delivery.
Though one of those designs might seem out of reach, the right preparation and partnerships can make your dream to own this unique class of very light jet a reality!