There are pros and cons to buying any new or used aircraft. There are obvious advantages to buying a new plane —the latest avionics and safety features, a warranty, and that new plane smell, to name a few. But those pros are offset by a couple of big downsides: the cost and long wait time.
To sidestep those shortcomings and take advantage of current market conditions, many potential buyers are considering pre-owned jets. However, fears of incomplete logs, unknown previous owners, potential repairs, aging components, and a lack of bells and whistles make some would-be buyers nervous. But all of these potential downsides can be avoided by working with an experienced jet broker.
A knowledgeable broker eliminates the risks involved with purchasing a pre-owned jet by providing you with access to jets that have a known history with complete logs, maintenance records, and information about the previous owners.
The time is right
And the timing couldn’t be better for talking with a broker about purchasing a pre-owned jet. Since the financial crisis of 2008, the value of previously owned business jets has been declining. Before that time, there was a large push to order new aircraft. Then the economy began to tighten and many of those lightly used aircraft went on the market, leading to a current surplus of undervalued pre-owned jets.
Now is the time to take advantage of this robust used jet market. Buyers today have an opportunity to purchase any variety of pre-owned jets at a great value, but it isn’t likely to stay this way for long.
More jet buyers are entering the market as commercial travel becomes increasingly cumbersome and international demand for private jet ownership grows. As the interest in used jets continues to rise, the supply of pre-owned aircraft will be stretched thin and costs will go up.
The reality is that potential private aircraft buyers are already recognizing the great value offered by previously owned planes. Many older model airplanes are undervalued, despite the fact that they still have long lives and offer great performance.
Unbeatable value, limitless potential
One large appeal to used aircraft is the customization factor. A used jet easily can be modernized and customized to fit the buyer’s needs and budget — either all at once or over time. Improvements range from relatively inexpensive after-market products to full overhauls.
Quick ways to personalize a secondhand aircraft include updating the paint, recovering seats and headrests, and installing a new windshield. And technology upgrades can convert a used plane into a high-tech aircraft that rivals new models. Adding features like a speech-recognition system, cutting-edge avionics, and LED lighting will modernize any aircraft.
A private jet is always a crowd pleaser no matter the size, age, or price tag. But for the value, a pre-owned jet is a great option. Talk to the brokers at L & L International today — their expertise can guide you to the right pre-owned jet at the right price.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at 877-453-8276 (+1.305.754.3313), or visit us online.