Did you know that over the next decade, it is expected that around 8,000 new private jets will be bought by multinational companies and the super-rich?
The good news is you don’t need to be one of the richest people in the world to buy your own aircraft!
Keep reading to discover how you can buy an affordable personal aircraft without breaking the bank.
How Much Is a Plane?
With many different types of airplanes that you can buy, planes can range from $8,000 to $90 million.
A smaller aircraft, such as an Ultralight Aircraft can cost between $8,000 to $15,000 when bought new. An Ultralight Aircraft will have a single-seat and is a single-engine recreational plane.
A single-engine plane, that can hold two or more people, can cost between $15,000 and $100,000.
A multi-engine plane can cost between $75,000 to $300,000. While a private jet can cost you upwards of $3 million.
On top of the upfront costs of initially purchasing the aircraft, there are also other costs to consider. You need to cover the costs of storing the aircraft, maintaining it, insuring it, financing it, and the cost of fuel.
How to Buy Affordable Airplanes
A lot of people don’t have an extra three million lying around to spend on a private jet, which is why they choose to buy a cheaper aircraft option.
Before you start looking for the cheapest airplane, it’s important you understand what it is you want a plane for. For example, there’s no point in paying extra money for a high-performing plane if you only intend to do short trips. Similarly, there’s no point in forking out extra for a plane that seats 4 or more if you only intend to fly with you and one other person.
Another important thing to remember is that the cheapest plane to buy, in terms of upfront costs, might not be the cheapest plane to buy overall. Don’t forget about the other costs of having a plane. If you buy an older model it might be costlier in the long-term because of maintenance and the cost of older parts.
While you’re searching for a plane to buy, it’s also important to get all the information about the aircraft. You don’t want to buy an aircraft without knowing the condition of it because this could cost you.
You might not be too bothered about the interior design of the plane if you’re using it for recreational purposes, but you definitely want to know about any mechanical problems or faults before buying it.
3 Cheap Plane Options to Consider Buying
If you’re looking to save money, then the cheapest planes you can buy are second-hand. However, if you’d rather buy a new plane then there are still plenty of affordable options for you.
1. Single-Engine Aircraft
A single-engine aircraft is by far the most affordable option. This is ideal for new pilots who want to buy an affordable and economical plane that provides good speeds.
There are different types of single-engine planes, some come with just one seat while others have space for the pilot and another passenger. The good news is that these planes can often be bought for less than $25,000.
The Cessna 150 is a great choice for pilots who want to train and fly, as this aircraft has excellent handling qualities. This one passenger aircraft has a cruising speed of 124 mph, a maximum range of 349 miles. You can buy the Cessna 150 from $17,500.
Pilots looking for an easy-to-fly, safe, and more economical plane might want to consider the Ercoupe 415-D. This aircraft burns fuel at 6 gallons per hour and has been enjoyed by pilots for many years. With a cruising speed of 95 mph and a maximum range of 300 miles, this one passenger aircraft is perfect for beginners.
Other popular plane models include Cirrus SR22 and Cessna 172. For more inspiration have a look at the best single-engine planes.
2. Twin-Engine Aircraft
More experienced pilots with a multi-engine rating might be more drawn to a larger and faster aircraft, such as a twin-engine aircraft. These planes can typically carry more passengers or cargo and offer a larger range compared to a single-engine.
A twin-engine aircraft is also capable of flying at higher altitudes. Although a twin-engine comes with greater features for the more experienced flier, you can buy a twin-engine for up to $40,000.
A twin-engine Cessna 310 can be bought from $35,900. This aircraft was produced after World War II until 1980. Older models can be bought for cheaper, however, make sure you consider the cost of maintenance. The Cessna 310 offers a good handling and performing aircraft that can cruise at 223 mph and reach a range of 790 miles.
If you’re wanting a slightly speedier aircraft, you might want to think about the Piper Aztec which has a cruising speed of 226 mph. Similar to the Cessna 310, it has capacity for 5 passengers and is easy to handle.
However, the Piper Aztec has a smaller maximum range compared to the Cessna 310, of 713 miles. Starting from just under $40,000, at $39,995, the Piper Aztec could be yours.
3. Jet Aircraft
Although a jet aircraft can cost millions of dollars, you might be able to find one for cheaper than you think. If you’re looking for an affordable jet, then you should consider buying a light jet.
It’s possible to get a jet for under a million. The Beechcraft Beechjet 400A offers capacity for 7 to 8 passengers, a cruising speed of 504 mph, and a maximum range of 1,704 miles.
This entry-level light jet can be bought from around $578,000. But don’t forget the additional costs of fuel, maintenance, and storage.
Find Your Ideal Affordable Personal Aircraft
Follow our guide on how to buy an affordable personal aircraft and find your ideal plane now. Whether your a collector looking for your next aircraft or you want a new aircraft to take to the skies and enjoy flying in, there are plenty of options and different prices.
Remember, don’t be afraid to browse and shop around, after all, you want to make sure your money is well spent on an aircraft that is perfect for you.
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