An aircraft is a big ticket item, and the purchase of one involves a number of choices and decisions — each of which can make a big difference in your comfort and enjoyment of your private aircraft. Most experts say buying an aircraft is more like buying real estate than buying a car, even though a jet is a vehicle. This is because the process involves
- complicated negotiations,
- lots of necessary inspections, and
- the correct insurance.
When you are ready to purchase a private aircraft, it’s a good idea to take full advantage of professional, experienced, knowledgeable brokers who understand the industry and can streamline the process for you.
How does a jet broker work?
One of the most important benefits of an experienced jet broker is that they have the right industry connections to get a good appraisal of a potential aircraft for you, your lender, and/or insurance company. They also have access to planes that are not yet on the open market, much like a good real estate agent knows what properties are likely to become available with the right incentives.
An experienced jet broker will ask the kinds of questions that reveal what type of jet you want and need — for instance, an entire jet is not always the right choice when a charter service or fractional ownership will work just as well. A jet broker will also know how to help you determine the size and type of aircraft that will best meet your needs. In addition, a jet broker’s goal is to ensure that your purchase is a good investment.
How do you choose a jet broker?
The best way to choose a jet broker who will do their best work for you is to start by finding one who
- has at least five years of experience in the industry,
- can clearly explain their process and their added value,
- has references they are willing to share with you, and
- can describe their brokerage fees willingly.
L&L International has all of the above, as well as the experience and drive to help make your aircraft purchase a smooth process.