Summary
- Cirrus Vision Jet offers affordable luxury at under $3 million, with unique safety features and single-pilot operation.
- Embraer Phenom 100EV provides a sleek design with a larger range at a value of just under $3 million.
- Cessna Citation M2 offers speed, comfort, and cost efficiency for a hands-on flying experience at $4.7 million.
Private jetsare undoubtedly a luxury item, mainly exclusive to the wealthy and famous. They can range in price from $1 million for a pre-owned light jet or turboprop to$100 million for a top-of-the-range personally designed ultra-long-range heavy jet. Let’s see what is affordable with a modest budget of $3 million.
Cirrus Vision Jet
The Cirrus Vision Jet is the undisputed king of the under $3 million private jet category. This single-engine jet boasts a starting price of around $2.85 million, making it an affordable option. The very light jet offers a range of up to 1,150 miles and a top speed of 345 mph. It’s also the first single-engine private jet to be certified for single-pilot operation, making it a good choice for owner-operators.
Photo: Cirrus
It is a compact and popular entry-level private aircraft that can hold up to seven passengers. The Cirrus Vision Jet also has some unique safety features, including the Cirrus Airframe Parachute System and the Safe Return emergency autoland, which can be accessed at the touch of a button. A pre-owned Vision Jet can be bought for between $2 and $3.5 million.
Embraer Phenom 100EV
The Embraer Phenom 100EV is a slightly larger and more capable jet than the Vision Jet, with a range of up to 1,300 miles and a top speed of 390 mph. This very light jet is the evolution of the original Phenom 100. It is known for its sleek design, reliability, and cost-effectiveness.
Photo: Embraer
The aircraft was first introduced in 2007, and over 400 Phenom 100 were built. It can seat up to seven passengers and has a starting price of around $4.5 million. You can find some pre-owned models for just under $3 million. The Phenom 100EV also holds its value and depreciates by only 1% annually.
Cessna Citation M2
The Cessna Citation M2 is a little more costly at $4.7 million but still worth consideration. It is one of the smallest aircraft of the Cessna family. Thevery light jetallows for single-pilot operation and combines speed, range, and comfort.
The aircraft is cost-efficient and is ideal for an owner who wants a hands-on flying experience. It can hold six passengers and two crew. It is perfect for corporate, charter, or private use and features a Garmin 3000 avionic suite.
Cessna Citation X
The Cessna Citation X is another option. It made its debut in 1990, first flew in 1993, and was first delivered in 1996. From 1996 until the end of production in 2018, over 320 of the aircraft were made.
It is well known for its top speed of 717mph, making it one of the fastest private jets in existence. The midsize jet is known for its streamlined design and can climb to 51,000 feet. A preowned Citation X can cost anywhere between $3.5 and $7 million for newer models.
Bombardier Learjet 60
The Bombardier Learjet 60 has always been a very popular private jet. This midsize aircraft was produced between 1991 and 2012. During its production period, over 400 examples of the aircraft were made. The Learjet 60 is powered by two Pratt & Whitney engines and can take six passengers. A preowned aircraft of this type varies in price drastically, with prices being between $2 million and $6 million typically.
Photo: Philip Pilosian | Shutterstock
Cessna Citation Mustang
The Cessna Citation Mustang was first introduced in 2005. Production ended in 2017, and 479 aircraft were built. The very light jet can seat four passengers and two crew.
Photo: Mike Fuchslocher | Shutterstock
It is ideal for short flights within a 1000-mile range, for example, from San Francisco to Los Angeles. It is known for its versatility and high performance, as well as being affordable. A preowned Citation Mustang can be bought for around $2.5 million.
Budget friendly turboprops
Finally, when looking for an aircraft on a budget, it is worth considering the humbleturboprop. You can find a pre-owned turboprop, such as anAero Commander 100 built in 1968, for as little as $50,000 and up to $100,000, according to Controller.
Photo: InsectWorld | Shutterstock.com
These may be much older and smaller aircraft and might not be suited to everyone looking for a private jet, but they are cheaper and more accessible than other types.
In conclusion
When purchasing a private jet, it is essential to remember that there are additional costs after the initial outlay. There are ongoing operating costs to consider, such as fuel, maintenance, hangar fees, and insurance. These costs can easily add up to hundreds of thousands of dollars per year. It might be worth considering fractional ownership or buying jet cards or membership as an alternative.
However, should you wish to purchase your own aircraft in the $3 million range, many options are available. Whether you need a new private jet with the latest safety features like the Cirrus Vision Jet or prefer a pre-owned, cost-effective aircraft, there is something for everyone.
