Most people have dreams. It is what keeps the humdrum of our daily lives enjoyable.
Dreams often come into reality with a lot of hard work and determination. Then again, sometimes they are only meant to be dreams. One particular dream that is common is what would you do if you won the lottery? For me, I would invest in a private jet perhaps. But how much does a private jet cost to buy or charter?
How about we play this game for a little while and think about the possibility of flying around the world on a private jet. Maybe a weekend in Rome, then shopping in Paris and dinner in the Bahamas. Winning the lottery could become a reality for some, however, we would want to be smart with our money and should be a bit picky about the things we buy. Some people go for houses on the lake, but what about owning a private jet. How much is a private jet? Would you charter flight or flat out buy a private jet? Also, what would be a decent size jet to buy?
To answer some of those questions, let us first assume that we have a destination in mind. Let us believe we live in Los Angles, CA and want to gamble in Las Vegas, NV. We don’t want to buy an airplane flat out, so we are going to charter a jet. Just how much does a private jet cost like the Cessna 510 Mustang to get us to Nevada? The Cessna Mustang would be able to get us to Vegas in 52 minutes for a total cost of roughly $5,600 one way. I suppose that is a convenient way to avoid the traffic and jump to the high rollers table at Caesar’s Palace.
What if though we wanted to shop in London? The cost of a private jet would run about $160,000 to fly on the Gulfstream G2 one way. If we had millions to spare, this price tag wouldn’t be so shocking. However, the cost of a private jet to London, England if you won $1,000,000 would only get you 3 round trip tickets.
So how much does a private jet cost outright without renting it? A mid-size nine-seat Cessna Citation Sovereign jet can travel 3,243 miles between stops and runs a hefty price tag of $18 million. The $18 million doesn’t include the cost of fuel, pilot’s salary, or the flight crew to get you there. On the lower end of jet planes the Cessna 510 Mustang, which seats four comfortably has a price tag of $4 million. However, the Cessna Mustang maybe the most recognizable jet plane on the market, it can only go 1,050 nautical miles before refueling.
Although these are just two jets, there are different factors to consider when purchasing and determining how much a private jet costs. One primary concern would be how far does the plane go? Just like cars, size matters. For smaller jets, they need more ground time to refuel, while of course larger jets like the Falcon 50 / 50EX Jet, which seat 8-10 people and has a built in restroom, can travel distances up to 3,223 nautical miles. The Falcon 50 / 50EX plane costs $30 million to buy outright. Dang!
I don’t know about you, but if I won the lottery, I don’t think I would buy a private jet right away. I would charter the plane and have money to spend something like an Extra 300. There is a reason people with millions fly around the world in their planes. First, they know just how much a jet is, and can afford it and secondly it is awesome to have your plane.