Steve asks whether to buy a new or used corporate jet. New jets take 1 to 2.5 years to build and cost more upfront, but come with latest tech. Used jets are available immediately and depreciate less. The choice depends on how soon you need to fly.
Chapters
Hey Steve! Hey, what can I do for you? I want to buy a private jet. Should I buy it brand new or pre-owned? It's not that simple, but have a seat. So it comes down to two main things: price and timing. If you want to buy something right away, you have to go pre-owned. But why? Well, because if you want to buy new, you have to order the airplane. It takes really 1 to 2.5 years to get delivery of a new airplane to be built and designed to your spec. And what about the price? Well, listen, of course you're going to get the latest, greatest technology when you buy a brand new airplane, so it's going to have the highest price, obviously. And airplanes, like most depreciating assets, will lose some residual value each year. So Steve, what do you sell? Brand new or pre-owned? We do both. Majority of our business is pre-owned, but a good percentage is representing buyers, going to the manufacturers, negotiating contracts for new airplane deliveries. Well, which one should I get? Depends. You want something next month or next year? Ah.
