What Are The Cheapest Private Jets You Can Buy?

To most, private jets are just distance dreams.

Many mass-produced models now run $50 million or more! Yikes. But there is the option of cheap private aviation, provided you pick the right plane.

Believe it or not, you can purchase a private jet in a cost effective manner! Plenty of used models go for less than $1 million regularly - offering plenty of luxury, performance, and style.

Keep reading!

Why Are Some Private Jets So Much Cheaper?

There are a few reasons that some private jets have lower price points:

Small Size Smallest of these private jets which might accommodate 4–6 people require less power, fuel etc. That makes purchase and operating costs much less expensive compared with large jets.

Reciprocating Engines You might think that many of the cheaper models utilize pricier turbine jets, but in fact they use garden-variety piston engines. Far lower fuel burns too.

Less Avionics Operational costs remain within reach thanks to lacking of fanciful electronics such as advanced autopilots.

Pre-Owned Value Savings: Used beats new by a mile! There are plenty of older jets that depreciate but can also fly wonderful.

Less Luxury With no gold-plated fixtures or fully-installed bedrooms, these jets are closer to your more average style of travel, just with comfort and efficiency built in.

Low-Cost Used Private Jets for Sale Below $1M

Following are 6 of the more commonly available used private jets that consistently slip through the sub $1M door yet still provide great operating economics and comfort:

1. Cessna Citation I  Cessna Citation I is one of the best known starter jets due to its low purchase prices and operating costs. The Citation V was one of the early members of Cessna's long running Citation family, and helped cement the company as a leader in the entry-level jet space.

Here, then are the reasons why this almost half-a-century old aircraft is still going strong:

Affordable Acquisition Cost Used Citation typically commands between $365,000 and $800,000. That's a steal for a private jet! You can also find older models in the $100,000 range.

Well-tested and easy-to-repair While it serves its purpose, the Citation I has been around for decades and earned a name for reliability. Its uncomplicated systems and mechanics makes upkeep easier than many jets.

Solid Performance Specs The aircraft has a cruise capability of 350 knots with a range of up to 1,200 nautical miles and ceiling of 41,000 feet. It will suffice for short hops.

That makes the Citation before you one of the cheapest ways into private aviation there is. Though its lack of frills won't impress passengers, it does deliver solid no-frills transportation for a reasonable price.

 

2. Embraer Phenom 100  For those wanting simple style and modern tech in a compact, fuel-conscious business jet there is no real alternative to the Embraer Phenom 100. The sophisticated very light jet features a smooth exterior design, and an inviting & well-equipped passenger cabin.

Here's a closer look:

Sleek Styling Inside and Out With its rakish curves and lavish interior featuring leather seats and mahogany accents, the Phenom 100 makes a bold visual statement. It would be a blast for passengers who will feel like flying in the lap of luxury.

Efficiency and Performance That burns fuel, sure, but with twin turbofans it can hit around 390 knots -- With a range of almost 1,200 nautical miles, it also gets you away from the short hops of piston planes.

Price Tag under $2 Million At this price point, the Phenom 100 is a fantastic value for an upscale jet with 21st century avionics and amenities.

Find ideal mix of comfort, efficiency and style with Phenom 100 The right way around today's light jet.

3. Cessna Citation Mustang  If you've ever fantasized about being the king of your own private jet, then meet the entry-level Cessna Citation Mustang. Aimed directly at owner-pilots, this light and simple very light jet lowers the barrier to entry into jet ownership.

But this is what makes it so universal:

Easy to Fly Quick to respond, with intuitive Garmin glass cockpit simplifies the task of piloting. It smoothes the transition away from pistons.

Cabin Built for Comfort Despite being only somewhat longer than 12 feet, the cabin features bucket-style leather seats, a lavatory with a door and even a dedicated baggage compartment for an arguably more premium passenger experience.

Operating costs that are far below larger jets Remove that sticker shock, and for just shy of $2 million on the pre-owned market jet performance and prestige are yours. Budget-friendly!

The Mustang ranks high among modern used very light jets as a top value for owner pilots wanting to go up to turbofan excitement. Get your own slice of those smooth sailing high-altitude skies in this peppy little jet.

 

4. Beechcraft Premier I  Looking for a light jet with more space in the cabin? With room for as many as seven passengers, the Beechcraft Premier I delivers space and comfort in a lushly outfitted cabin.

Let's go on to learn more about this intriguing alternative:

Luxury Leather Seating for Six Recline on two club seats and convertible divan. The Premier I is perfect for getting up and moving about with ample leg room and rotating chairs.

State-of-the-Art Avionics Rockwell Collins Pro Line 21 avionics enhance situational awareness by means of an advanced glass cockpit, ensuring maximum safety. Flying sophistication on par with the best jets.

Composite Materials Enhance Efficiency Compared with all-metal airframes, composites weigh less, which can mean better fuel economy. Reduced fuel burn plus a lower purchase price also equals long-term savings.

Forget sardine-can cabins. The Premier I offers near-full-size comfort in a capable used jet priced to fly under $2 million.

 

5. Learjet 24  This 1970s-built Learjet is a cost-effective way to fly. With its iconic pointed nose and sleek lines, the Learjet 24 still turns heads whether on the ramp or slicing through the skies at nearly 500 knots.

But that’s not all. Here are more reason to go after this vintage bullet:

Blazing Fast In this price range, the Learjet 24 is one of just a few write checks speed hunters.

You'll reach your destination much quicker than the entry level jets of today that cruise at about 390 knots, with top speeds of around 500 knots. Time is money!

Proven Reliability The Learjet 24 also benefits from its relatively low-tech operation and analog gauges, forgiving into solid performance if maintained properly. These airframes, the workhorses of the service, are still going to be around for a while.

Budget Price for a Lear A Used LearJet 24 Will Cost You ~200k Near the $200,000 mark, nothing in this price bracket can deliver faster speeds or more panache than a used learner jet. You'd usually pay a lot more for this sort of performance. For a true bargain hunter this jet is it!

The Learjet 24 is basically the only chance your average Joe is going to have at owning his own fast jet that will also serve him well as a private transport vehicle. This legendary bird is still an aviator's dream.

 

6. HondaJet HA-420  The HondaJet HA-420 is one of the newest entrants in aviation and brings a fresh perspective with advanced technologies to the very light jet arena. Focusing on performance, efficiency and comfort, Honda Aircraft innovators created new flight capabilities in the small jet class.

Now, to take a look at what makes the HondaJet unique:

Optimal Aerodynamics This distinctive over-the-wing engine mount design decreases drag whilst improving stability and control. You'll enjoy a smoother ride.

Unmatched Fuel Economy Innovative design allows for a reduction in fuel consumption of up to 17% compared to rival engines Savings matter when you are running a busy flight schedule.

Modern Glass Cockpit Exceptional situational awareness -enhancing safety is provided by advanced Garmin 3000 avionics with three displays. Flying a HondaJet almost seems like flying a spacecraft!

The HondaJet is at the forefront of innovative design that elevates aerodynamics, efficiency and technology to a whole new level. Innovation takes flight.

 

7. Hawker 400XP A tantalizing compromise between the comfortable light jet and the spacious super-midsize, the Hawker 400XP is a compelling mix of comfort, performance and value. Its stand-up cabin offers a degree of room to move that only super light jets can compete with.--James Gilboy, August 27, 2023

Now, let's find out where this aircraft strikes a balance:

Spacious Stand-Up Cabin The cabin of the Hawker 400XP is almost 5 feet wide, providing plenty of space to move around and stand up. Unlike more cramped jets, passengers can stretch out a little bit in comfort.

Generous 1,500 Nautical Mile Range With nonstop flights of up to 1,500 nautical miles it flies coast-to-coast or crosses oceans without a money-sucking gas station stop. An entire order of magnitude better than the 1,100-1,300 nm ranges for smaller jets.

Comfort Meets Performance Flying faster than the majority of light jets and providing midsize jet cabin amenities, the Hawker 400XP is capable of cruise speeds up to 450 knots. The perfect blend of comfort and utility.

The Hawker 400XP straddles the line if you want greater than snack-sized jets with a long range to fly long-haul missions. Get up and about with a little flair!

 

Top Considerations for Purchasing a Low Cost Private Jet

To maximize value from an economical used jet purchase, focus on:

Total Flight Time since New Under 5,000 hours total time offers plenty of life remaining before major maintenance. High cycles can accelerate wear too.

Engine Hours The best are mid-time engines - round about halfway to an overhaul. Steer clear of jets with a few hundred hours to go before this big service.

Records & Damage The full log and its lack of repair or incident history gives confidence in the condition of a jet.

Upgrades & Avionics New interiors, updated engines as well as the glass cockpits add value with a mix of new technology for safety and comfort.

Replacement Parts Maintenance costs are low with solid support networks and available new / used parts.

Inspected & Test Flown Have any jet you buy have the mechanic examine that whole plane even fly it test)), if buying in a swap.

Running Expenses

A cheap jet can be a bargain at net purchase price, but they certainly are not free to operate, oh no. Budget for costs like:

Fuel $80 - $300 per hour

Maintenance $200 - $500 per hour

Storage Hangar $25,000 - $60,000 per year

Insurance $10,000 - $75,000 per year

Pilot Costs Over $50,000 per Commercial Pilot

VLJs burn less fuel and require less maintenance than aging piston twins, so newer turbine aircraft such as these ships pay their own way better than legacy airplanes.

But any jet you own still requires being budgeted for just so that they maintain safety and operational costs.

Takeaway

Some used aircraft provide excellent value and with capability for less than $1 million. Size or luxury are not a focus for us, but rather efficiency, useful load, reliability and support. Take your time in selecting the appropriate jet for your needs and means.