More than the sticker price

After all, a Cessna Citation or CJ from the 1980s or 1990s can be purchased for well under a million dollars. But, as with any aircraft, it’s important to keep your eye on ownership and operating costs in addition to purchase price. Over time, jet engines tend to cost more than the aircraft they propel. With overhaul or replacement costs reaching upwards of $750,000 per engine, you could easily spend $1.5 million just to keep your airplane flying.

An engine program helps spread the cost of engine overhaul or replacement over time. An aircraft with an existing engine program that is paid up and transferable at the time of purchase is a lot more attractive to a lender than one without. Unless you have significant cash reserves you are willing to set aside, or pledge, a jet that doesn’t have an engine program is probably a jet not worth considering.

Most older jets aren’t on an engine program, and adding one as part of a purchase is often cost-prohibitive. Few lenders, if any, will finance older jets without engine programs. If you’re looking for something vintage, be prepared to either pay cash for the purchase, or pay a hefty sum to get an engine program paid up.

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