A private jet owner has revealed why it’s ‘actually surprisingly affordable’ although, that’s not to say anyone will be fishing out the cash for a plane anytime soon.
A private jet owner from Arizona has taken to YouTube to reveal what they’ve found out about their Cessna Citation 501 which makes it ‘really cheap’ to run.
Jet fuel
JR Aviation took to his YouTube channel on December 21 to open up about owning a Cessna Citation 501 for the past two years and why it’s been more affordable than he thought.
He says: “Talk about cheap jet fuel lately. Holy smokes we are saving a ton of money, just jet fuel naturally being cheap.”
It’s kind of like when there’s a 40 percent off deal on a food delivery service and you convince yourself you’re technically saving money, and so then order extra food equating to that money.
JR Aviation explained they filled up the tank of the private plane and it cost a mere $3.79 per gallon. “Wow.”
Although, the particularly low cost is aided by a membership the flyer has with a fuel membership company called CAA.
Hangar space rental
You can either leave your private plane – should you ever purchase one – out in the elements and leave it to the luck of the Gods whether it survives or, you can put it in a hangar.
However, in Arizona and California, a ‘good hangar space’ can be expensive.
Owen managed to find the Cessna Citation 501 one for ‘$700-a-month’ – which JR Aviation argues is ‘normally not that cheap’.
“Hot markets you could be paying $3-6,000 depending on where you’re at,” he adds.
However, once more, this is aided by the fact Owen knows a guy and they do each other favors. So, unless you know a guy too then you’re in luck, if not, you snooze you lose.
Although, JR Aviation adds the plane is ‘pretty small’ which helps too, fitting into smaller spaces.
Insurance costs
Owen’s ‘crazy hours and experience’ – which the majority of the rest of us would certainly not have – means they were quoted an insurance policy for the plane ‘as low as $10,000 for the year’.
They ended up paying a ‘little more’ but it’s around ‘under 1,000 bucks a month for a jet’ – which sure, for a jet may be cheap, but do I hear anyone out there with $1,000 to spare each month? No? Didn’t think so.
Although, JR Aviation notes age doesn’t actually seem to matter as much when it comes to insuring yourself on a plane, ‘older guys might struggle’ instead – the opposite to what tends to happen with cars.
Jet ownership, tax and registration
“This is going to be shocking.”
Compared to super cars, registering a private jet into your name is actually quite a lot easier.
You have to pay a $5 FAA registration fee and state registration fee of around $25 – if you’re in Arizona and your plane is over 40 years old – along with some taxes which actually are waved in Arizona coming to $0. So, the total? Around $30.
“I’m pretty sure it’s a one time fee,” JR Aviation notes.
If your jet is over 40 years old then it can add up, however.
Maintenance
Despite being ‘buried’ by the last bill, JR Aviation reveals he managed to bag some parts for cheaper deals, reducing one panel from thousands to $600 and another for $400, saving $6,000-7,000 by using a site called BAS, which sells ‘good quality parts’ for cheaper.
Anyone want to go private plane shopping?
