Crack open any airplane trader magazine and you’re likely to find small and midsized jets—including Learjets, Sabreliners, Falcons, Hawkers, and Westwinds—listed for less than $1 million, some with relatively new paint and interiors. A few may even be advertised for $400,000 or less. These are six- to eight-passenger aircraft, for the most part, and some of them have ranges of 2,000 miles or more. They’re bargains at these prices, right?
Not necessarily. To determine whether you’re really looking at a deal, you first need to consider how old a jet is, and you need to do that based not just on the year of manufacture but also on how many takeoffs, landings, and engine starts it has had. In addition, you have to consider how it has been maintained, whether it has been flying recently, and—often most importantly—how it is equipped.