The Top 10 Most Affordable Private Jets For the Newly Minted Multi-Millionaire
If your business is highly successful and making a fortune in the millions or you are a newly minted crypto multi-millionaire or you were lucky to win the lottery jackpot, then you may be considering investing in some toys and one of those toys may be on this list of most affordable private jets.
More people have become multi-millionaires over the last few decades than at any other time in history. The barriers to becoming rich is being torn down and the domain of the few is becoming available to the masses along with the toys that comes with this level of wealth.
Owning a private jet may not be on top of the list for newly minted millionaires. Let’s face it, only a few can afford to own a private jet and there is no such thing as cheap private jets when seeking to own a private jet, the cost of ownership, maintenance and other fees can be astronomical.
While the interest in owning a private jet has become more desirable over the last decade, the costs of ownership still prohibit all but the wealthy few. Even so, there was a time when having a private jet was something reserved only for the richest of the rich. Today, anyone can charter a private jet and still have the experience of flying privately without the exorbitant costs of ownership.
That said, this article is dedicated to private jet ownership and if you can afford to dish out a substantial amount of your money on owning a private jet and having the freedom to travel wherever you want to go on your terms, these 10 best affordable private jets on this list from most expensive to the least are your best choices to join the ranks of the few.
Embraer Legacy 650E
Embraer Legacy 650E
Embraer once again makes the list but how does a private plane that costs $25.9 million could be considered affordable? It’s affordable as far as affordability goes in this industry when you consider the size of the aircraft. For a price tag of $25.9 million that is a bargain when compared to the Gulfstream G550 of comparable size which cost $62 million. The aircraft can seat 13 passengers in a roomy spacious cabin. The Legacy 650E is powered by two Rolls-Royce AE3007A2 turbofan engines that can reach a top speed of 515 mph. With a range of 3,900 miles, it can easily travel from New York to London.
Cessna Citation XLS
Cessna Citation XLS
At $12.8 million, the Cessna Citation XLS is a business class aircraft that is priced closer to a high-end personal jet such as a Gulfstream or Bombardier aircraft. It comes in six distinct color schemes with a plush luxurious leather interior. While the plane is less expensive than others in its class, it is also one of the roomiest, with seating for up to 9 passengers and a two-person crew. The XLS is powered by two Pratt & Whitney Canada PW545C Turbofans, each producing 4,119 lbs of thrust. The aircraft can cruise at a top speed of 507 mph with a range of 2,100 miles, that is enough to travel from New York to the Bahamas and neighboring Caribbean islands.
Embraer Legacy 600
Embraer Legacy 600
Embraer is legacy brand well known in the aviation industry and the Legacy 600 is no exception. With high-end versions of the Legacy 600 costing as much as $25 million, this jet makes our list because low-end versions are priced at $10 million which is a bargain for a jet of this capacity. The Legacy 600 can carry 14 passengers with a two-pilot crew. It is powered by two Rolls-Royce AE 3007A1E turbofan engines producing 7,953 lbs of thrust with a cruising speed of 528 mph. With a range of 3,400 miles, it can cross the Atlantic with ease.
Cessna Citation CJ3
Cessna Citation CJ3
Cessna is undoubtedly one of the most prominent aircraft manufacturers. Whether it’s light piston engine aircraft to private jets, this brand is well established and known for its dependability and reliability. While it is one of the most expensive on our list at a price tag of $7 million, it’s still very affordable when compared to other private jets on the market. The CJ3 is the favorite jet of choice amongst prominent figures in the entertainment industry. It can seat 7 passengers and is powered by two Williams FJ44s that produce 10,000 lbs of thrust with a range of 2,000 miles at a cruising speed of 480 mph. The CJ3 can fly with a single pilot instead of two pilots, which reduces the cost of operation and makes it more appealing to potential owners.
Embraer Phenom 100
Embraer Phenom 100
The Phenom 100, launched in 2008 is significantly cheaper than Embraer’s budget luxury private aircraft, the 650E, at $4.95 million. The plane can transport up to 7 passengers and can be operated by a single pilot, once again saving operating costs. It’s a rather small private aircraft, with a length of roughly 42 feet. Two Pratt & Whitney Canada PW617F1-E turbofan engines produces 1,730 lbs of thrust. The aircraft can reach a cruising speed of 470 miles per hour and an operating range of slightly over 2,180 miles. Not bad for a tiny jet.
HondaJet HA-420
HondaJet HA-420
The HondaJet is a relatively new entry into the private jet market. Nonetheless, it boasts features and capabilities that put to shame more well established private jets on the market. It can carry 6 passengers and is powered by two GE Honda HF120 Turbofan engines that produce up to 1,880 lbs of thrust. The aircraft can reach a cruising speed of 483 mph with a range of 1,180 miles. While the range is enough to make it from Washington to Boston, it certainly is not enough for transcontinental flight and definitely not transoceanic. Nonetheless, the HondaJet is a worthwhile investment for the aspiring private jet owner if they can fork out its $3.7 million dollar price tag.
Stratos 716X
Stratos 716X
Stratos 716X aims to compete directly with the Cirrus Vision Jet. In development for over a decade, it was initially named the Stratos 714 but rebranded to the Stratos 716X. It can carry up to 6 passengers in a relatively roomy cabin. Twin Pratt & Whitney Canada JT15D-5 turbofan engine with electronic engine control (EEC) powers the aircraft generating 3,000 lbs of thrust with a range of around 1,500 miles. With a range that small, you can get from New York to Chicago in one flight. For around $3.5 million, the Stratos 716X is a relatively affordable option and little less expensive than the HondaJet.
Cessna Citation X
Cessna Citation X
The Citation X has been around for over 25 years and is considered one of the great classics of the private jet industry. The price range varies greatly, with the most expensive one costing $23 million and least expensive priced at just $3 million. The Citation X is not a personal jet like the others on our list, but a full-sized midsize aircraft with a two-person crew and seating for up to 12 passengers. The Citation X is powered by two Rolls-Royce AE 3007C engines each producing 6,442 lbs of thrust. It has a top speed of 607 mph and a range of 3,900 miles, allowing you to comfortably cross the Atlantic from New York to London.
Learjet 60
Learjet 60
The Learjet 60 is an established brand that has been around for decades. Many prominent figures including, politicians, athletes and entertainers own a Learjet. The Learjet is a favorite not only because of its roomy cabin which can carry 8 passengers, but its extended range of 2,240 miles. That is enough range to fly from Los Angeles to Seattle and back. The Learjet 60 has two Pratt & Whitney Turbofan engines, generating up to 4,600 lbs of thrust. It’s one of the most powerful private jets on our list and a very reliable investment for a cool $2 million.
Cirrus Vision Jet
Cirrus Vision Jet
The Cirrus Vision Jet is one of the tiniest and most affordable private aircraft on our list. It’s only 30.7 feet long and has a 38.7-foot wingspan. With a price tag of only $1.96 million, its probably the most affordable aircraft in the entire private jet market. For that price tag you get a single engine jet powered by a single Williams International FJ33-5A turbofan engine producing 1,800 pounds of thrust. It operates with a single pilot and can cruise at 345 mph with a range of 1,266 miles. With that range, you can comfortably hop between neighboring cities in no time.
