The Most Affordable Private Jets You Can Buy in 2024
Owning a private jet has long been synonymous with luxury and exclusivity. However, advancements in aviation technology and increased market competition have made private jet ownership more accessible than ever. That being said as most owners know, buying the private jet is the cheapest part of owning one.
Did you know that the cost to purchase a private jet has decreased by approximately 15% over the past decade?
Whether you’re a seasoned jet owner or considering your first purchase, understanding the most affordable options available in 2024 is crucial.
This guide explores some of the cheapest private jets you can buy, detailing their purchase prices, operating costs, range, speed, and more to help you make an informed decision.
Overview of the Most Affordable Private Jets
Below is a table summarizing some of the most affordable private jets available in 2024, including their price, operating costs, range, speed, and passenger capacity.
| Model | Price | Cost to Operate (per flight hour) | Range (nautical miles) | Speed (mph) | Passengers |
|---|---|---|---|---|---|
| Cirrus Vision Jet | ~$2 million | ~$800 | 1,200 | 345 | 5-7 |
| Eclipse 500 | ~$4.5 million (pre-owned) | ~$1,500 | 1,125 | 390 | 4-5 |
| Cessna Citation Mustang | ~$3.5 million (pre-owned) | ~$1,600 | 1,200 | 340 | 4 |
| HondaJet HA-420 | ~$5 million | ~$1,800 | 1,437 | 486 | 7 |
| Pilatus PC-24 | ~$10.5 million | ~$2,500 | 2,100 | 510 | 10 |
| Falcon 50 | ~$3.5 million (pre-owned) | ~$2,200 | 3,000 | 470 | 14 |
| Embraer Legacy 650E | ~$27 million (new) | ~$3,200 | 3,900 | 519 | 13 |
| Cessna Citation CJ3 | ~$9 million | ~$2,000 | 2,040 | 440 | 9 |
| Beechcraft Premier IA | ~$10 million | ~$2,300 | 2,200 | 446 | 9 |
| Embraer Phenom 300 | ~$9.5 million | ~$2,500 | 2,268 | 453 | 7-11 |
1. Cirrus Vision Jet
Price: Approximately $2 million
Cost to Operate: Around $800 per flight hour
Range: 1,200 nautical miles
Speed: Maximum cruise speed of 345 mph (555 km/h)
Overview: The Cirrus Vision Jet is the first single-engine jet in its class, offering an affordable entry point into private jet ownership. Its modern design and advanced safety features make it an attractive option for individual owners and small businesses.
Key Features:
- Single-Engine Efficiency: Lower operating costs and simpler maintenance.
- Advanced Safety: Equipped with the Cirrus Airframe Parachute System (CAPS) for enhanced safety.
- User-Friendly Cockpit: Intuitive avionics and controls designed for ease of use.
2. Eclipse 500
Price: Approximately $4.5 million (pre-owned)
Cost to Operate: Around $1,500 per flight hour
Range: 1,125 nautical miles
Speed: Maximum cruise speed of 390 mph (628 km/h)
Overview: The Eclipse 500 is a lightweight jet that offers affordability without compromising on performance. Ideal for short-haul flights, its compact size allows access to smaller airports, providing greater flexibility for private jet owners.
Key Features:
- Lightweight Design: Enhanced fuel efficiency and lower operating costs.
- Compact Size: Easily accessible to smaller airports and runways.
- Cost-Effective: One of the most affordable private jets on the market.
3. Cessna Citation Mustang
Price: Approximately $3.5 million (pre-owned)
Cost to Operate: Around $1,600 per flight hour
Range: 1,200 nautical miles
Speed: Maximum cruise speed of 340 mph (547 km/h)
Overview: The Cessna Citation Mustang is a very light jet (VLJ) that offers excellent performance and efficiency for its size. It’s perfect for small groups and short trips, making it an ideal choice for cost-conscious buyers.
Key Features:
- Efficient Performance: Excellent fuel economy and low operating costs.
- Comfortable Cabin: Accommodates up to 4 passengers with a spacious layout.
- Advanced Avionics: Equipped with Garmin G3000 avionics suite for enhanced navigation and safety.
4. HondaJet HA-420
Price: Approximately $5 million
Cost to Operate: Around $1,800 per flight hour
Range: 1,437 nautical miles
Speed: Maximum cruise speed of 486 mph (781 km/h)
Overview: The HondaJet is celebrated for its innovative design and efficiency. Lightweight construction and aerodynamic enhancements provide exceptional performance and fuel efficiency, making it one of the most cost-effective private jets on the market.
Key Features:
- Unique Over-the-Wing Engine Mount: Enhances fuel efficiency and cabin space.
- Fast and Efficient: Quick climb rates and fuel-efficient operations.
- Modern Cabin: Comfortable seating for up to 7 passengers with ample legroom.
5. Pilatus PC-24
Price: Approximately $10.5 million
Cost to Operate: Around $2,500 per flight hour
Range: 2,100 nautical miles
Speed: Maximum cruise speed of 510 mph (830 km/h)
Overview: The Pilatus PC-24 is renowned for its versatility and performance. Combining the capability of a large-cabin jet with the flexibility of a turboprop, the PC-24 can access smaller airports, expanding your travel options. Its spacious cabin comfortably accommodates up to 10 passengers, making it ideal for both business and leisure travel.
Key Features:
- Versatile Cabin Layout: Customizable configurations to suit various needs.
- Advanced Avionics: Equipped with the latest navigation and safety systems.
- Short Runway Performance: Capable of operating from runways as short as 3,000 feet.
6. Falcon 50
Price: Approximately $3.5 million (pre-owned)
Cost to Operate: Around $2,200 per flight hour
Range: 3,000 nautical miles
Speed: Maximum cruise speed of 470 mph (755 km/h)
Overview: The Dassault Falcon 50 is a tri-jet aircraft that offers enhanced safety and reliability. While it’s an older model, its robust design and efficient performance make it a cost-effective option for those seeking a reliable long-range private jet.
Key Features:
- Tri-Jet Configuration: Enhanced safety with three engines.
- Spacious Cabin: Comfortable seating for up to 14 passengers.
- Long-Range Capability: Suitable for transcontinental flights.
7. Embraer Legacy 650E
Price: Approximately $27 million (new)
Cost to Operate: Around $3,200 per flight hour
Range: 3,900 nautical miles
Speed: Maximum cruise speed of 519 mph (835 km/h)
Overview: The Embraer Legacy 650E stands out with its impressive range and luxurious interior. Perfect for long-haul flights, this jet combines advanced technology with exceptional comfort, making it a favorite among high-end private jet owners.
Key Features:
- Extended Range: Capable of non-stop flights across continents.
- Luxurious Interior: Spacious cabin with customizable interiors.
- Advanced Technology: State-of-the-art avionics and flight systems.
8. Cessna Citation CJ3
Price: Approximately $9 million
Cost to Operate: Around $2,000 per flight hour
Range: 2,040 nautical miles
Speed: Maximum cruise speed of 440 mph (708 km/h)
Overview: The Cessna Citation CJ3 is a reliable and efficient light jet, ideal for short to medium-haul flights. Its sleek design and advanced avionics make it a popular choice among private jet owners seeking both performance and comfort.
Key Features:
- Efficient Performance: Excellent fuel economy and low operating costs.
- Comfortable Cabin: Accommodates up to 9 passengers with a spacious layout.
- Advanced Avionics: Equipped with Garmin G5000 avionics suite for enhanced navigation and safety.
9. Beechcraft Premier IA
Price: Approximately $10 million
Cost to Operate: Around $2,300 per flight hour
Range: 2,200 nautical miles
Speed: Maximum cruise speed of 446 mph (718 km/h)
Overview: The Beechcraft Premier IA combines the comfort of a light jet with the performance of a midsize aircraft. Its versatile cabin and efficient performance make it a compelling option for those seeking a balance between cost and luxury.
Key Features:
- Spacious Cabin: Comfortable seating for up to 9 passengers with ample baggage space.
- Efficient Operations: Low fuel consumption and reduced maintenance costs.
- Advanced Safety Features: Equipped with modern avionics and safety systems.
10. Embraer Phenom 300
Price: Approximately $9.5 million
Cost to Operate: Around $2,500 per flight hour
Range: 2,268 nautical miles
Speed: Maximum cruise speed of 453 mph (730 km/h)
Overview: The Embraer Phenom 300 is a highly popular light jet known for its impressive range and performance. Its modern design and advanced technology make it an excellent choice for both business and personal travel.
Key Features:
- Impressive Range: Capable of transcontinental flights.
- Modern Interior: Comfortable seating for up to 11 passengers with a stylish design.
- Advanced Avionics: State-of-the-art navigation and safety systems.
Honorable Mentions:
While the jets listed above represent some of the most affordable options in the private jet market, there are other models worth considering for their cost-effectiveness and performance:
- Pilatus PC-12 NGX: Approximately $4.5 million (pre-owned) with a range of 1,845 nautical miles and operating costs around $1,800 per flight hour.
- Beechcraft Premier IA: Approximately $10 million with a range of 2,200 nautical miles and operating costs around $2,300 per flight hour.
- Embraer Phenom 100EV: Approximately $4.5 million (pre-owned) with a range of 1,178 nautical miles and operating costs around $1,700 per flight hour.
Conclusion
Purchasing a private jet is a significant investment, but with the right information, it can be a rewarding decision that enhances your travel experience. The private jets listed above offer a range of options to suit various budgets, operational needs, and preferences. From the versatile Pilatus PC-24 to the efficient HondaJet, each model provides unique benefits that cater to different aspects of private aviation. When considering your purchase, evaluate factors such as purchase price, operating costs, range, speed, and the specific features that align with your travel requirements. By choosing the most affordable private jet that meets your needs, you can enjoy the luxury and convenience of private air travel without breaking the bank.
