Here are major factors that led to the drop in prices of brand new and pre-owned business jets:
- The Rest of the Global Economy Is Still Catching Up
While the U.S. Economy is doing well, other countries are still catching up with regards to their economy like the Middle East and China, so the demand is low and prices are at a much reasonable rate.
- Over 15,000 Business Jets Were Distributed Before The Recession In 2007
15,000 business jets were distributed in 1994 which was at its peak before the recession in 2007, so there are still old business jets in the market with at least 12,000 hours airframes yet can still reach up to 25,000 hours when properly maintained.
- Jet Buyers Are Hesitant To Buy Old Jets Because of High Maintenance Required
This is the misconception that most buyers believe when in fact, the cost of maintaining older jets is lower compared to buying a new one with the same potential and features.
- Manufacturers Cut Prices Instead of Diminishing Production
Jet manufacturers prefer to cut down on business jet prices than to slow down production because the decrease would only happen when there is a loss of market interest or talent in making these jets.
- A Big Shift From Partly-owned To Whole Ownership of Jets
More part-owners of brand new and pre-owned business jets are shifting to whole ownership of jets because of attractive low prices offered in the market.
- More New Fuel-efficient Jets Are Produced.
If you’re eyeing for new models like the Gulfstream 650ER, you won’t have to worry about fuel costs because of its built-in features that are fuel-efficient.
- Low Interest Rates
It’s fairly attractive to buy new jets because of lower interest rates compared to the past years.
If these factors have convinced you enough, it’s high time to check on a good business jet distributor that will offer you the best rates including good quality and features, and review on the cost of operation in managing and maintaining your own business jet.
West Palm Jets aircraft acquisition team includes top aviation private jet aircraft, analysts, and researchers. We obtain the best possible purchase price on Airbus Corporate Jets, Beechcraft, Boeing Business Jets (BBJ), Bombardier Business Aircraft, Cessna Aircraft, Dassault Aviation, Embraer Executive Jets, and Gulfstream Aerospace. Our process for assisting clients with a private jet aircraft purchase involves examining their business objectives, their travel needs, and how private aviation can assist them in being more productive and profitable. Contact us at 1-888-507-8582 or email: firstname.lastname@example.org to get started.
Disclaimer: All Aircraft And Air Carriers Selected By West Palm Jets are fully Certified by The Federal Aviation Administration and The U.S. Department of Transportation under part 135 regulations. Carriers are Solely Responsible for The Air Transportation Arranged on Behalf Of West Palm Jets’ Clients. West Palm Jets Does not OWN or Operate Any Aircraft. West Palm Jets is not a direct or indirect Air carrier. All flights chartered through West Palm Jets are Operated by Part 135 Air Carriers.