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Jet fractional ownership is something not all members of the public might be aware of. However, those who are interested in private jet ownership but don’t have the money to afford the entire purchase themselves should certainly consider it. It can be a way to enjoy use of a private jet sometimes as a special treat.
Jet fractional ownership isn’t cheap, but some individuals and families are able to afford it if they have reached a certain level of affluence. We’ll discuss what you can expect to pay for the privilege of partial ownership of a private jet right now.
What Does Jet Fractional Ownership Involve?
For those who don’t know about this term yet, fractional jet ownership means you’re putting money in to purchase a private jet along with some other individuals doing the same thing. It’s essentially the same as putting money into a timeshare.
When you buy into fractional jet ownership, you can charter that jet sometimes, while the rest of the time, the other owners will be using it. Much like with a timeshare, you must get together with the other owners to work out a schedule that seems fair for everyone involved.
How Much Does It Cost to Buy In?
As for how much it costs to buy in, you can usually start getting into fractional jet ownership for about $100,000. That price might allow you to go in with some others to purchase the jet that you will likely have access to anywhere from a few days to a few weeks per year.
At a buy-in price of about $100K, though, you should not expect to use the jet too often. Private jets are expensive, and $100K, even though it seems like a lot of money to some people, likely won’t allow you access to the aircraft very much.
For that price, it would be appropriate to think that you can use the jet for a couple of yearly trips. The more you put in, though, the fewer people will own the jet with you. For a higher price tag, you will own a larger stake in the jet, so you can use it more.
Is It Worth It?
Whether buying into a jet this way is worth it will depend on the opinion of each individual. For one thing, it depends on how much money you have and how much you’re making.
If you’re a millionaire, then paying the price tag to buy part of a private jet might seem worth it. If $100K represents a significant amount of your net worth, then it’s probably an extravagance you don’t need.
While no one requires a private jet, if you have enough money to go in on ownership with some others, you might find you love getting a chance to use it sometimes. Not everyone will like this purchase option, but you may feel it’s well worth the money if you can fly off to an exotic destination in style once a year.
Photo by John McArthur on Unsplash
