Hondajet Ryabtsev

The Cheapest Private Jet To Buy Today

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The cheapest private jet to buy today is obviously going to be small and compact in comparison to those large, spacious, and ornate examples so often used as a backdrop for a fashion shoot or a celebrity pose. Obviously we’re talking big money here. Nevertheless, there are actually some surprisingly affordable options out there if you know where to look. You may be a particularly wealthy individual or you may be thinking of buying an aircraft for a company or syndicate. With their ability to operate out of smaller, more regional airfields, sometimes on grass runways in dry weather, small private jets attract all kinds of buyers, owners, and operators.

Overview of the Private Jet Market

The private jet industry has expanded rapidly over the past decade, with many new models released at lower price points. If you’re in the market for your own jet today, you have more affordable options than ever before.

With new models and lower price points, the private jet market has opened up to more buyers than ever before. Whether you choose an entry-level jet or step up to a midsize cabin, your wings are within reach if you look for new, efficient options like the Cirrus Vision SF50, HondaJet HA-420 or Pilatus PC-24. Flying private is the ultimate luxury, and now may be the perfect time to make your dream a reality.

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Which Is The Cheapest Private Jet To Buy Today?

Coming in at under $3m it has to be the Cirrus SF-50 Vision, but there are others in the 2-10 million dollar bracket.

1. The Cirrus SF-50 Vision Jet

Cheapest Private Jet To Buy Today - The Cirrus Sf-50 Vision Jet
By Ian Haskell. Cirrus SF-50 Vision at Solent Airport

Starting at just $2.2 million, the Cirrus SF-50 Vision Jet is one of the most affordable private jets on the market. Despite its low price tag, the plane is remarkably high-tech, boasting a computer-controlled autopilot and a parachute system that can lower the entire plane safely to the ground in an emergency.

  • Details: The Cirrus SF-50 Vision Jet is renowned for being the first single-engine personal jet, aimed at private owners and small businesses. It features advanced avionics, a comfortable cabin for up to 7 passengers, and the unique Cirrus Airframe Parachute System (CAPS) for enhanced safety.
  • Estimated Price: $2 million to $2.75 million USD.

2. The HondaJet HA-420

Honda is best known for its fuel-efficient cars, so it’s no surprise the HondaJet HA-420 is one of the most efficient light jets available. With a price starting around $5 million, the six-seat HondaJet has a range of 1,223 nautical miles and a fuel efficiency of 17% better than other similarly sized private jets.

  • Details: Featuring a distinctive over-the-wing engine mount, the HondaJet HA-420 is known for its fuel efficiency, speed, and range. It accommodates up to 6 passengers and offers a modern, luxurious cabin.
  • Estimated Price: Approximately $5.25 million USD.
The Hondajet Ha-420
By Sergey Ryabtsev

3. Eclipse 550

  • Details: The Eclipse 550 is a very light jet that offers efficiency and performance, capable of seating up to 6 passengers. It boasts advanced avionics and is designed for short to medium-range flights, emphasizing cost-efficiency and environmental friendliness.
  • Estimated Price: Around $3 million USD.
Eclipse 500 Operated By Channel Jets
By Ian Haskell.. Eclipse 500 Operated By Channel Jets. At Solent Airport.

4. Embraer Phenom Series

  • Details: The Embraer Phenom Series, including the Phenom 100EV and Phenom 300E, serves the very light and light jet segments, respectively. These jets are praised for their spacious cabins, cutting-edge technology, and performance. The Phenom 300E, in particular, is one of the fastest jets in its class.
  • Estimated Price: Phenom 100EV around $4.95 million USD; Phenom 300E about $9.45 million USD.
Embraer Phenom At Northolt
By Ian Haskell. Embraer Phenom At Northolt

5. Cessna Citation Series

  • Details: The Cessna Citation Series covers a broad range of jets from very light to midsize. Popular models like the Citation M2, CJ3+, and Latitude offer varying capacities and ranges to meet different needs, focusing on reliability and efficiency.
  • Estimated Price: Citation M2 around $4.5 million to $5 million USD; prices increase with larger models.
Cessna Citation
By Alf van Beem – Own work, CC0

6. Learjet 70/75

  • Details: The Learjet 70/75 models are light jets known for their speed, advanced avionics, and luxurious interiors. They offer seating for up to 9 passengers and combine high performance with operational efficiency.
  • Estimated Price: Approximately $9 million to $13 million USD.
G-Zhth Learjet 75 Lj75
By Markus Eigenheer from Genève, Schweiz – G-ZHTH Learjet 75 LJ75 c/n 45-540 > BZE, CC BY-SA 2.0,

7. Pilatus PC-24

  • Details: The Pilatus PC-24 is dubbed the “Super Versatile Jet” because of its ability to operate on short and unpaved runways. It features a large, flexible cabin that can accommodate up to 10 passengers and is suited for a variety of mission types.
  • Estimated Price: Around $8.9 million to $10 million USD.
Pilatus Pc-24
By Stephan Widmer – 15.06.17_0326, CC BY-SA 2.0,

8. SyberJet SJ30

  • Details: The SyberJet SJ30 is a light business jet known for its high speed and long range, capable of flying coast to coast in the U.S. without refueling. It seats up to 7 passengers and offers one of the highest cruising speeds in its class.
  • Estimated Price: Approximately $8.3 million USD.
Syberjet Sj30
By Sergey Ryabtsev – Russian AviaPhoto Team

9. Diamond D-Jet

  • Details: The Diamond D-Jet is a very light jet designed for personal and executive travel, offering seating for up to 5 passengers. It’s aimed at providing economical operation and comfortable, efficient short to medium-range flights.
  • Estimated Price: Estimated around $1.89 million USD, though the program’s status has been uncertain.
Diamond D-Jet
By RuthAS – Own work, CC BY-SA 3.0,
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Operating Costs and Other Considerations

Once you’ve decided on a jet model that suits your needs, you’ll want to understand the ongoing costs to operate and maintain it. Fuel, maintenance, storage, insurance, and crew salaries can really add up, even for the most affordable private jets.

Fuel

The Cirrus Vision Jet, for example, burns about 60 gallons of jet fuel per hour. At current prices, that works out to around $300 to $400 per hour in the air. The HondaJet and Cessna Citation are a bit more efficient, around 45 to 55 gallons per hour. If you fly 200-300 hours a year, fuel costs alone could be $60,000 to $120,000 annually. Ouch!

Maintenance

Private jets require frequent inspections and part replacements to keep them airworthy. Maintenance costs typically run $200 to $500 per hour of flight time. For a mid-size jet flying 200-300 hours a year, that’s $40,000 to $150,000 in annual maintenance fees.

Storage and Insurance

You’ll need a hangar to store your jet, which can cost between $5,000 to $20,000 per month depending on the airport and size of the jet. Insurance premiums vary but expect to pay at least $50,000 to $200,000 per year for a small to mid-size model.

While the upfront cost of the least expensive jets may seem appealing, don’t forget the ongoing operating expenses. When all is said and done, you can expect to pay $500,000 to over $1 million each year to operate even a small private jet. Make sure your budget can handle it before taking to the skies in your own winged chariot!

FAQs on Buying the Cheapest Private Jet

What’s the typical cost of a new private jet?

The most affordable new private jets start around $2 million for a very light jet up to $10 million for a midsize jet. The models mentioned in this article represent some of the most affordable options currently available. While a sizable investment, buying a private jet provides convenience, flexibility, and status.

What ongoing costs are involved with private jet ownership?

After purchasing a private jet, you’ll face additional costs like fuel, maintenance, storage, insurance, and pilot salaries. Fuel costs alone can be $200,000 to $500,000 per year depending on how much you fly. Maintenance and repairs add $200,000 to $500,000 annually. Hangar or airport storage fees are $50,000 to $200,000 per year. Insurance premiums vary but are typically a few hundred thousand dollars annually. Pilot salaries are $200,000 to $500,000 per year for a two-person crew.

Do I need a pilot’s licence to own a private jet?

No, you do not need a pilot’s licence to own a private jet. However, you will need to hire one or more professionally trained pilots to fly the aircraft for you. Private jet owners have a few options:

  • Hire full-time professional pilots as employees to be on staff for you whenever you want to fly. This provides the most flexibility but is also the most expensive option.
  • Use a private jet management company to provide pilots, maintenance, and operational support. They can also handle logistical details like flight planning, catering, and ground transportation.
  • For light jets, use a jet card or membership programme to get access to aircraft and pilots when you need them. This fractional ownership model provides more flexibility than commercial flights at a lower upfront cost than outright purchasing a jet.
  • For very light jets, some manufacturers offer training programmes to certify private owners to fly as pilot-in-command. You’ll still need a professionally trained pilot to handle the controls on some flights.

While the cheapest private jets are relatively affordable to acquire, ongoing ownership costs are substantial. Make sure you understand all the expenses involved before purchasing an aircraft. With the options available, you can enjoy the benefits of private jet travel without necessarily needing a pilot’s licence yourself.

Conclusion

So there you have it – the cheapest private jets you could buy today if you want to travel in style without breaking the bank. While none of them come cheap, the Cirrus SF50 Vision Jet or the HondaJet offer great value and could be within your reach if you save up. Just imagine zipping through the skies in your sleek new ride! But the reality is that even the “cheapest” private jets are out of most people’s price range. We can dream though, right? For now, we’ll have to be content with an economy class seat on a commercial flight. But who knows – maybe one day you’ll be lucky enough to own your own private jet! In the meantime, we can admire them from afar and imagine how the other half lives. Safe travels!

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