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The OUTRAGEOUS Costs Of Owning a Private Jet... (Can We Still Afford It?)

JR Aviation

836,515 views

It's finally time we discuss the REAL cost of owning a private jet. These video breaks down our first service bill with our Cessna Citation 501SP from an owner's perspective. Avionics upgrades, engine overhauls, scheduled maintenance, inspections, taxes, etc... Can we still afford to keep it? We bought this plane sight unseen in cash and flew it home 1,800 miles. There was some service drama that kept this plane held up for 5 months, but it's finally back and ready to hit the skies.

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PLEASE NOTE: We are aviation enthusiasts. These videos are for entertainment purposes only. We are NOT qualified to give flying instruction. All of our videos, including this one, have been significantly edited down from the original full length raw footage. Many radio calls, checklist steps, and other procedures have been omitted to keep the videos a reasonable viewing length. Please speak to a CFI with any flying questions you may have.

20 Comments

@JRAviation Creator 3 years ago Pinned

Trust me, DO NOT buy a cheap jet unless you know what you are getting into haha. I hope you enjoyed this real talk discussing the real numbers associated with our first "small" maintenance checkup. There are sooooo many other costs I didn't mention. Pilot salary, hangar rent, taxes, registration, landing fees, etc, etc... Subscribe for more jet videos!

@timhoman220 2 years ago

A shop who holds you plane for 3 months, then tells you, “we can’t work on it” deserves to have their name in this video.

@lorendjones 2 years ago

Jets definitely fall into the "If you have to ask, you can't afford it" category.

@hekterr6677 3 years ago (edited)

Tremendous life experiences don’t have to be permanent lifestyles!
The two happiest days of an aircraft owner, the day he buys it and the day he sells it.

@dejongdon 2 years ago

He doesn’t even begin talking numbers until the 7 minute mark, and mentions “we had no idea how expensive service is” approximately 300 times.

@jamesbooth3360 2 years ago (edited)

Shop for a shop and get a ferry permit.
Been there done that on the pressure bottle date.
$11k for an annual isn't so bad. It's not Jets, it's AIRPLANES!
My Dad use to tell me, "The cheapest thing you will put in an airplane is gas."

@Xy11212 3 years ago

Is it just me or was anyone else expecting over $100,000

@letsfly72x 3 years ago

Actually, not as bad as I was thinking it would be. I once got hosed on an annual inspection on my piston plane for $21,000.00

@marshallmurrell4583 2 years ago

During my practice, I had several clients who were bitten by the private jet bug. Only one of them could really afford it. He was the sole owner of a company doing about $500MM in annual sales. The rest came to the same realization to which you have come. If it isn't making money for you, you should not buy it. It is a luxury which few can afford.

@sjlasko 2 years ago

That’s not that bad. I just finished a $105,000 panel job on a Cessna 340. that took 1.5 years. 2022 annual was $27,000, flew the airplane to the avionics shop, they took their sweet time, airplane went out of annual. Had to get an annual done on the field it was at. Just got the bill - $38,000 and most of the items found were due to sitting for 1.5 yrs. Welcome to aviation

@walterthorne4819 2 years ago

Multiple aircraft owner here….I’ve owned 2 Beechcraft Twin Bonanzas: D50 Sweringen and G 50 (IGSO 480 powered), a Beechcraft Queen Air, and a Bellanca Super Vikings. Always found maintenance to be surprisingly expensive. Looking back at my life…. aircraft ownership and flying were very rewarding. Rule #1 Always buy the best example you can afford and seriously consider purchasing examples that are the most popular as this will insure a more successful buyer pool when your bird gets too expensive to maintain. SAFE FLYING

@BarnegatSVU 2 years ago

I loved this guy in “saved by the bell.”

@JRGarage 3 years ago

Here before all the “I knew you couldn’t afford it” comments 😂

@cameronh5442 2 years ago

I used to work on these as a mechanic. The labor rate per hour is usually cheaper compared to automotive maintenance. It's normally the parts that get you.

@eb1888. 2 years ago

Now you know. Since everything is determined by date, you can map out maintenance going forward. And be prepped. First thing I'd do is find a used set of maintenance manuals. Map out each phase with parts and labor. Determine what can be diy and what can't. Shop for labor just like parts. When you're not rushed, deals are easier.

@hstrinzel 2 years ago

I'm not sure if it's any consolation: BE GLAD that you don't have a Heinckel Messerschmitt Me 262, because THAT thing needs a REBUILD of BOTH TURBINES after every 4 HOURS of flight time. In any case, always have MAXIMUM FUN with your masterpiece. I envy you.

@SMcda 3 years ago

Outstanding video, i have owned 14 planes. 2 turbines but no jets, i feel your pain. Find a good shop, stick with them, bring them beers, bring them donuts treat them well. They are not printing 501 mechanics anymore. Keep flying

@ryanwiler4808 3 years ago

Wasn't nearly as expensive as I had anticipated. Especially given that half of it was a once in a 25 year issue. Considering that a new equivalent would be around $5M, your shop visit cost around a half percent of its new cost. Not bad!

@mcsvls 2 years ago

Most private jets are 2% of original purchase price (not used price) per year to maintain, that is why they are usually connected to a revenue stream or generate a revenue stream. Most yachts are 10% of purchase price per year, 15% the first year.

@Sie84yv 2 years ago

I'll take the 30 minute TSA line and a $800 first class ticket on Delta with champagne service any day, and buy a nice house with a Lambo with the savings! 😀
That said, I think it's SUPER COOL that these young men are able to have their own private jet!