The following is a guest post.

Flying can be a travel necessity for some people, but it can also be a costly thing to do. The price of flying continues to go up, making it harder for people to find the funds to travel.

For those people and those businesses that do a lot of flying, sometimes investing in your own private jet is the best option. Eventually, the cost of owning a plane will pay for itself, and you’ll have access to your own private plane whenever you need it.

Even if you opt to buy a plane, though, it will still cost you a significant amount of money. The price will vary significantly based on the type of plane, the age of the plane, and a variety of other factors. If you’re interested in owning a plane, then you’ll need to do your research to not only see what you can afford, but to also see what you need.

There are three main ways that you can buy your own private jet.

Cash

Obviously, if you have the capital to spend on buying a plane outright, then this is a great option. You’ll end up spending exactly what you want to spend, as you won’t have to pay interest on a loan. Plus, many sellers will often give you a nice discount if they’ll receive cash for the sale. This is something you’ll need to take some time to consider, as it will be a nice chunk of money. Talk with your accountant or other financial advisor to see if it’s a good idea for you to make.

Aircraft Loan

Most people take out a loan when they buy a house or buy a car, and the same goes for buying an airplane too. No matter if you want a private plane for leisure or to fly across the globe for business, an aircraft loan can help you achieve your goal. There are a variety of different aircraft brokers available to help you secure the right loan for the plane of your dreams, so be sure to talk with a professional about your options. Just be sure that you can afford to make the monthly payments before signing the contract.

Crowdfunding

When it comes to buying a private plane, most people don’t even consider crowdfunding as an option, but it is. When you crowdfund, you are asking other people to make an investment in your project, company, idea, etc., which is usually done via the internet. If you are in need of a private plane, you should consider crowdfunding as an option. If you’re looking for a plane for your business, reach out to potential investors and see if they’d be willing to give you some money to buy your plane. Be sure to tell them how the plane will benefit your company, such as by allowing you to ship products more quickly or tend to global business events.

If you’re looking to buy a private jet for your own pleasure, then remind the “crowd” why the plane is beneficial. You can get a group of people together and crowdfund the plane as a group, allowing each “funder” to have access to the plane at their leisure. By doing so, you’ll be able to make a smaller investment in order to access your own private plane. This will significantly reduce the cost of flying, especially if you fly more often. Plus, you won’t have to deal with those large, annoying crowds or experience the hassle of the TSA.

So if you’re truly interested in buying your own plane, consider the three options you have available and make the choice that’s right for you. Remember, cash and aircraft loans will cost more than crowdfunding, so be sure to check your budget before making your final decision.