Buying a jet is not like buying a car, and the process starts months before you see the aircraft

A jet purchase involves aircraft brokers or dealers, a pre-purchase inspection by a certified mechanic, title searches through the FAA, financing through specialized lenders, and insurance underwriting. The entire process typically takes three to six months. You will need to decide between new and used, narrow your budget to account for operating costs (not just purchase price), and understand that the seller's broker and your broker may be the same person — which creates a conflict of interest you should know about before it matters.

This guide walks you through the stages of a jet purchase, the people and documents involved at each step, and the decisions that affect both the price you pay and what you actually own when the paperwork closes.

Key Takeaways

  • A pre-purchase inspection by an FAA-certified mechanic is standard and non-negotiable; skipping it is the most common and expensive mistake buyers make.
  • The purchase price is often the smallest cost: annual operating expenses (fuel, crew, maintenance, hangar) can run 10 to 20 percent of the aircraft's value each year.
  • Title passes through the FAA Aircraft Registry, not a state DMV, and the FAA can take weeks to process the paperwork even after both parties sign.
  • Financing for jets comes from specialized aircraft lenders, not banks, and typically requires 20 to 30 percent down and proof of operating budget.
  • A broker represents either the buyer or the seller, but not both; if the same broker represents you both, that broker's commission comes from the seller and their incentive is to close fast, not to protect your interests.

Deciding between new and used aircraft

New jets come with a manufacturer's warranty, known service history, and no surprises in the logbooks. They cost significantly more — often 30 to 50 percent above a comparable used model — and you wait months or years for delivery. Used jets are available when ready, cost less upfront, but require a thorough inspection because you inherit whatever maintenance was skipped or deferred by the previous owner.

The used market includes aircraft that have been well-maintained by corporate owners (usually the safest bet) and aircraft that have been flown hard by charter companies or flight schools. A pre-purchase inspection will reveal the difference, but only if you pay for one. Many first-time buyers skip this step to save $15,000 to $30,000 on the inspection, then discover $200,000 in deferred maintenance after closing. The inspection is not optional.

Understanding the true cost of ownership

The purchase price is the smallest number in jet ownership. Annual operating costs include fuel (which varies by aircraft type and flight hours), crew salaries if you employ a pilot and co-pilot, hangar rent, insurance, and scheduled maintenance. For a mid-size jet, expect $1 million to $2 million per year in operating costs before you fly a single hour.

Some owners reduce costs by joining a fractional ownership program (where you buy a share of an aircraft and pay only for hours flown) or by chartering the aircraft when they are not using it. Both options require different financing and legal structures. If you are financing the purchase, the lender will ask you to document your operating budget — they want to know you can afford to keep the aircraft flying, because a grounded jet is worthless collateral.

How to find aircraft and work with brokers

Aircraft are listed on specialized marketplaces like Controller.com, Trade-A-Plane, and Vref, not on Craigslist or AutoTrader. Most transactions go through brokers — people licensed by the FAA to represent buyers or sellers. A broker's job is to find aircraft that match your requirements, negotiate price and terms, and shepherd the paperwork through closing.

The critical thing to understand: a broker represents either you or the seller, and that relationship determines who pays them. If a broker represents the seller, their commission comes from the sale price, and their incentive is to close fast. If a broker represents you, you typically pay them a flat fee or a percentage of the purchase price. Before you talk to a broker, ask them directly: "Who do you represent in this transaction?" If they say "both parties," that is a red flag. They cannot represent both parties fairly because their interests conflict.

The pre-purchase inspection and title search

Once you have found an aircraft you want to buy, you hire an FAA-certified aircraft mechanic to conduct a pre-purchase inspection. This inspection is thorough — it includes a complete teardown of engines, inspection of the airframe for corrosion or cracks, review of all maintenance logbooks, and a test flight. The inspection takes one to two weeks and costs $15,000 to $40,000 depending on the aircraft type.

At the same time, your broker or attorney conducts a title search through the FAA Aircraft Registry. This search reveals whether the aircraft has liens against it, whether there are outstanding airworthiness directives (mandatory repairs), and whether the registration is current. The FAA maintains the registry, and you can search it yourself at faa.gov, but a professional title search catches issues that a basic search might miss.

If the inspection reveals major problems or the title search uncovers liens, you can renegotiate the price, ask the seller to make repairs, or walk away. This is the point where most deals either move forward or collapse.

Financing a jet purchase

Banks do not finance jets. You will work with specialized aircraft lenders — companies that understand the market and can value the collateral. These lenders typically require 20 to 30 percent down and will finance the remainder over 10 to 15 years. Interest rates vary based on the aircraft type, your credit, and market conditions.

The lender will require proof that you can operate the aircraft — usually a detailed budget showing annual operating costs and your ability to cover them. They may also require that you maintain a minimum cash reserve or that you charter the aircraft to generate revenue. The lender's goal is to may support that if you default, they can repossess and sell the aircraft without taking a loss.

The financing process runs parallel to the inspection and title search. You should get a pre-approval letter from a lender before you make an offer, so the seller knows you can actually close the deal.

Insurance and registration

Jet insurance is required by lenders and covers liability (if you damage someone else's property or injure someone), hull coverage (damage to your own aircraft), and passenger liability. The insurance company will want to know your pilot's experience, the aircraft's maintenance history, and how you plan to use it. Insurance costs vary widely — typically $5,000 to $20,000 per year for a mid-size jet, but can be higher if you are a new pilot or the aircraft has damage history.

Registration happens through the FAA, not your state. After closing, your broker or attorney files the registration paperwork with the FAA Aircraft Registry. The FAA issues an airworthiness certificate, which is your proof that the aircraft is legal to fly. This process takes two to four weeks.

Closing and transfer of title

Closing for a jet is different from closing on a house. There is no single day where everyone signs at once. Instead, your attorney and the seller's attorney exchange documents over several days or weeks. The seller's attorney prepares a bill of sale (the document that transfers ownership), and your attorney reviews it for accuracy. Once both parties sign, the bill of sale goes to the FAA along with the registration paperwork.

Title does not pass until the FAA processes the registration. During this time — which can be two to four weeks — you own the aircraft legally, but the FAA has not yet updated its records. You cannot fly the aircraft until the FAA issues the airworthiness certificate. This gap between closing and the ability to fly is normal and expected.

Frequently Asked Questions

Can I buy a jet without a pre-purchase inspection?

Technically yes, but it is a serious financial risk. A pre-purchase inspection costs $15,000 to $40,000 and can reveal $200,000 or more in deferred maintenance. Skipping it to save money on the inspection often costs far more in hidden repairs after closing.

What is the difference between a broker and a dealer?

A broker represents either the buyer or the seller and earns a commission on the sale. A dealer owns aircraft inventory and sells them directly. Dealers are less common in the jet market than brokers, but both are licensed by the FAA.

How long does it take to close on a jet purchase?

The full process — from finding the aircraft to flying it — typically takes three to six months. The inspection and title search take one to two weeks, financing takes two to four weeks, and FAA registration takes another two to four weeks after closing.

Do I need a pilot's license to buy a jet?

No. You can own a jet without a pilot's license. If you want to fly it yourself, you need a commercial pilot's license and a type rating for that specific aircraft. Most jet owners hire professional pilots to fly their aircraft.

What happens if the lender rejects my financing process?

You can try a different lender, increase your down payment, or renegotiate the purchase price. If you cannot find financing, you can walk away from the deal — which is why getting a pre-approval letter before you make an offer matters.