The Aircraft Purchase Process
The aircraft purchase process is something that our bulk-charter clients begin to ask questions about. Although you can get a range of reasons to, or not to buy an aircraft, the decision must be made from the position of how it fits your mission profile, spending habits, and preferences. The beginning of the process should always start with your family office or wealth manager and ensuring that the interest in an asset of that dollar amount makes sense. We often see these recommendations come when leveraging depreciation and the tax advantage if one sells a business or has a large capital gain lability in a calendar year. The process is a team effort and this is where The Private Jet Consultants step in to help quarterback to the process to make sure nothing is missed. We first help you determine what aircraft broker may be the best fit for your needs. From there, the broker will lead the charge on guiding make and model suggestions based on a the inventory and the owner's use-case. We then establish an aviation attorney to support the contract phase, as well as sales and use tax once a selection is made and the prospective purchase turns to an acquisition. Following the selection, we recommend running an RFP to select the best management company for the asset. Simultaneously, we will work with your aviation broker to establish a 3rd party, pre-buy inspection and ensuring that the aircraft meets the criteria and is mechanically sound. Although you are likely capable to manage all of this yourself with the right aviation broker, the expenses are extreme if something is missed in this process. If you have any questions, please contact us at The PJC and we are standing by to offer any guidance and suggestions if considering a purchase.