Buying a private jet takes eight phases: define the mission, build an advisory team, select the aircraft, sign a letter of intent with a refundable escrow deposit, negotiate the purchase agreement, run the pre-purchase inspection, close, and put the aircraft into service. For a pre-owned jet the whole process commonly runs a few months and can take up to a year, and the pre-purchase inspection alone typically takes 10 to 20 working days according to aircraft dealer Jetcraft.
This guide walks through each phase from the perspective of an operator that manages aircraft after the sale, which is where many of the expensive mistakes become visible. It covers what happens in each step, who should be involved, how long it takes, and the decisions that matter before you wire a dollar.
| Phase | What happens | Who leads it | Typical time |
|---|---|---|---|
| 1. Mission and budget | Define routes, passengers, range, annual hours, and total ownership budget | Buyer, with a manager or adviser | 1–4 weeks |
| 2. Advisory team | Engage acquisition adviser or broker, aviation attorney, tax adviser, insurance broker, future manager | Buyer | Runs alongside phase 1 |
| 3. Aircraft search | Shortlist serial numbers, review records and damage history, view aircraft | Broker or acquisition adviser | Weeks to months, depending on market supply |
| 4. Letter of intent | Non-binding offer; refundable deposit placed with an escrow agent | Broker and attorney | Days |
| 5. Purchase agreement | Binding terms: delivery condition, inspection scope, who pays for what, exit rights | Attorneys | About two weeks (Jetcraft) |
| 6. Pre-purchase inspection | Records review, test flight, shop inspection, discrepancy list, corrections | Buyer’s technical representative and the inspection facility | 10–20 working days (Jetcraft), plus repairs |
| 7. Closing | Funds and documents move through escrow; title transfers; registration filed | Escrow agent and attorneys | One closing call |
| 8. Entry into service | Insurance, crew, maintenance tracking, hangar, operating certificate if chartering | Aircraft manager | Plan this before closing |
The most common acquisition error is falling for an aircraft before agreeing what it has to do. Start with your actual trips over the past 12 to 24 months and the trips you expect to take next.
Range and runways. List your longest regular nonstop leg with a realistic passenger load and winter headwinds, and the shortest runways you need to use. These two numbers eliminate more aircraft than any brochure comparison.
Passengers and cabin. Note the typical and maximum passenger count, how often you fly overnight, and whether you need a stand-up cabin or a lavatory with a door.
Annual hours. Utilization drives almost every cost decision that follows, including whether ownership beats charter at all. If you expect relatively few hours a year, compare ownership against chartering similar aircraft before you commit.
Total budget, not purchase price. The price is only the entry ticket. Budget for crew, hangar, insurance, maintenance programs, inspections, upgrades, and management. Private Jet Card Comparisons notes that used jets range from under $500,000 to over $50 million, and the gap between a cheap airframe and a well-maintained one often shows up later in maintenance bills.
A first-time buyer usually needs five specialists. An acquisition adviser or broker who represents you, not the seller. An aviation attorney for the letter of intent, purchase agreement and closing. A tax adviser for ownership structure, sales and use tax and depreciation questions. An insurance broker. And the company that will manage or operate the aircraft after closing.
Involve the future manager early. Brokers are paid to complete the transaction; the manager has to live with the aircraft’s maintenance status, crew requirements and, if you plan to offset costs with charter, its eligibility for a Part 135 certificate. A manager can flag a serial number with a costly inspection coming due, an interior that will need refurbishment, or equipment that limits where the aircraft can fly.
Once the mission is defined, your adviser identifies specific serial numbers for sale, on and off market. For each candidate, review:
The letter of intent (LOI) is normally non-binding and sets out price, deposit, inspection location, delivery conditions and a timetable. The buyer places a refundable deposit with a third-party escrow agent. Your attorney should make sure the LOI states when the deposit becomes non-refundable, and that it stays refundable until you accept the aircraft after inspection.
Pre-owned aircraft are usually sold “as is, where is” at closing, which is why the inspection and the delivery conditions in the next two phases carry so much weight.
The purchase agreement is the binding contract. Jetcraft says drafts typically go back and forth for a couple of weeks. The clauses that matter most:
Delivery condition. For example: airworthy, all systems operating, no damage history beyond what was disclosed, and inspections current.
Inspection scope and facility. Which inspections are performed, where, and who pays for the inspection itself and for the test flight and positioning.
Discrepancy rules. Usually the seller corrects airworthiness items. Cosmetic items and non-airworthiness defects are negotiated. Define what happens if the seller refuses or the cost exceeds a threshold.
Exit rights. When and how either party can walk away, and what happens to the deposit.
Closing mechanics. Delivery location, tax-driven considerations about where the aircraft is when title transfers, and the documents each side must deliver.
The pre-purchase inspection is where a buyer finds out what the aircraft really is. Jetcraft puts its length at 10 to 20 working days, depending on age, history and records. Choose a facility experienced with the type, and do not use a shop with ties to the seller.
The process usually includes a detailed records review, a test or acceptance flight with your representative on board, a shop inspection of the airframe, engines and systems, and borescope inspections of the engines. The output is a discrepancy list. The seller corrects items as the purchase agreement requires, and the buyer then accepts the aircraft, accepts it with conditions, or walks away.
From the operator’s side: if you intend to put the aircraft on a Part 135 certificate for charter, have the manager confirm during the inspection that the aircraft can meet that operator’s conformity and equipment requirements. Finding out after closing can mean weeks of extra work before the aircraft earns any revenue.
Closing usually happens on a conference call run by the escrow agent. The agent confirms all conditions are met, funds move, liens are released, the seller signs the bill of sale, and the buyer files registration. For an internationally registered aircraft, de-registration and filings with the International Registry under the Cape Town Convention are part of this step.
To register in the U.S., the FAA requires an Aircraft Registration Application (AC Form 8050-1), evidence of ownership such as a bill of sale, and a $5 registration fee. The owner must be eligible under FAA citizenship rules. A non-U.S. citizen corporation can register only if the aircraft is based and primarily used in the U.S., with at least 60% of flight hours on flights that start and end in the U.S. Aviation Pros notes that the copy of the application serves as temporary authority to operate within the U.S. for up to 90 days, and the permanent certificate typically arrives about 30 days after closing.
The aircraft should be ready to fly on the day you close. That means insurance bound at closing, crew hired and trained on type, maintenance tracking and programs transferred, a hangar arranged, and an operating plan decided: private use under Part 91, or management by a Part 135 operator that can also charter the aircraft when you are not using it.
Silver Air is an FAA Part 135 operator founded in 2008 and based in Santa Barbara, California. Through PURE Jet Management, Silver Air works with owners on an overall ownership strategy before and after purchase. The management team can review candidate aircraft against your mission, flag maintenance and charter-eligibility issues during the pre-purchase inspection, and prepare crew, maintenance and insurance so the aircraft enters service at closing. The managed fleet ranges from the Pilatus PC-12 to the Gulfstream G550 and Global Express. See the fleet for the types Silver Air operates today.
If you are not sure ownership is the right answer yet, chartering the type you are considering is a practical way to test the cabin, range and schedule before you buy. Contact Silver Air to talk through either path.
How long does it take to buy a private jet?
For a pre-owned jet, most transactions take a few months from letter of intent to closing. Private Jet Card Comparisons notes the full process can take up to a year. The pre-purchase inspection alone typically takes 10 to 20 working days, plus time to correct discrepancies.
What does a pre-purchase inspection cover?
A records review, a test flight, and a shop inspection of the airframe, engines, avionics and systems, often with engine borescopes. The scope should be written into the purchase agreement, along with who pays and how discrepancies are handled.
Who pays to fix problems found in the pre-buy inspection?
Typically the seller corrects airworthiness discrepancies as required by the purchase agreement. Cosmetic and non-airworthiness items are negotiated. The agreement should also say who pays for the inspection itself.
Is the deposit on a private jet refundable?
The deposit is usually held in escrow and is refundable under the letter of intent until the buyer accepts the aircraft after inspection. The exact point at which it becomes non-refundable is a negotiated term, so have your attorney check it.
Do I need a broker to buy a private jet?
Not legally, but most buyers use an acquisition adviser or broker who represents them, plus an aviation attorney and tax adviser. Bring in the company that will manage the aircraft early too, because it sees maintenance, crew and charter issues a transaction-focused adviser may miss.
Can a foreign buyer register a private jet in the U.S.?
An individual must be a U.S. citizen or permanent resident. A non-U.S. citizen corporation organized under U.S. law can register an aircraft only if it is based and primarily used in the U.S., with at least 60% of flight hours on flights that start and end in the U.S., according to the FAA.
Can I charter out my jet to offset ownership costs?
Yes, if the aircraft is managed on a Part 135 certificate and meets that operator’s requirements. Confirm charter eligibility during the pre-purchase inspection, not after closing.
Should I buy new or pre-owned?
New aircraft offer warranty coverage and a known history but often come with a wait for delivery. Pre-owned aircraft are available sooner and cost less, but their value depends heavily on maintenance records, inspection status and damage history, which is why the pre-purchase inspection matters so much.
Sources: Jetcraft, “The aircraft acquisition process”; FAA, “Register an Aircraft”; Aviation Pros, “Tips on buying a private jet”; Private Jet Card Comparisons, “Buying a private jet step-by-step for first-timers.”
Reviewed October 26, 2026 by the Silver Air team.
