When purchasing a luxury asset, pre-owned aircraft are fast becoming the new ‘new’. From personal preferences to market conditions, there are a number of factors to consider when making a purchase and Jetcraft, the leading pre-owned private jet sales specialist, has outlined the pros and cons of buying used vs new based on over 60 years of industry expertise.
The Case for Pre-Owned Aircraft
The private aviation industry saw a 33% market surge in transaction volume in 2021 due to higher demand during the pandemic. This demand put pressure on inventory, leading to manufacturer backlogs meaning access to aircraft is far more limited than it was pre-pandemic. Buyers are currently waiting 18-34 months for new purchases, and while the pre-owned market is also experiencing higher demand, it does offer faster access to aircraft.
Furthermore, pre-owned doesn’t necessarily mean old and many planes are relisted in almost-new condition after only a couple of years of use. This means much of the pre-owned aircraft is still relatively new by the time it becomes available, but with an enticing lower price. Savings made can be used to upgrade and personalise the jet, from more advanced avionics to state-of-the-art cabin entertainment.
Could New Be for You?
A significant benefit of purchasing new is in being able to customise the aircraft to perfectly align with your needs. While pre-owned aircraft can be updated, buying new ensures full customisability and the chance to design the jet from the ground up. Moreover, buyers can rest assured knowing that their aircraft is configured with the most up-to-date technology and advanced avionics available at the time of manufacture.
About Jetcraft
More than brokers, Jetcraft is a network of global aircraft advisors, offering unmatched international reach and unrivalled local knowledge. The company’s market leading intelligence, strategic financing solutions and extensive inventory support even the most intricate of transactions. For 60 years Jetcraft has led the way, setting standards that continue to shape the industry. Today, a team of 70+ dedicated aviation specialists across 20+ offices deliver worldwide aircraft sales, acquisitions and trading at the speed of life.
