New vs. Pre-Owned Private Aircraft: Which Option Is Best?

The “best” choice of aircraft is dictated by how many passengers come on each trip, the typical length of each flight, and your annual flight hours. The perfect plane for you may be either new or pre-owned. Which is the right choice?

New aircraft offer the latest safety technology and predictable costs. You can also customize your aircraft, ensuring that the cabin looks and feels like home. However, new planes are more expensive than pre-owned versions, and you may need to wait years to get one. 

Pre-owned aircraft provide immediate availability and significantly lower entry prices. They may also have limited finish and customization options, making them slightly less attractive to some buyers.

This table highlights typical comparison points:

Plane type	warranty	Technology	Lead Time
New	Full	Latest avionics	Years
Pre-Owned	None/limited	Retrofitted or not updated	Months

At Element Aviation, we can help you determine which option is best, and we can also help you find the aircraft that fits your needs perfectly.

A Detailed Look at New vs. Pre-Owned Aircraft

An aircraft is a major expense, and it pays to explore your options carefully before you sign the deed of sale. Here’s what you should know:

Buying a New Private Aircraft 

A new private aircraft is one that has not previously been privately owned and is delivered directly from the manufacturer. It’s built at the factory, often to your specifications, and delivered to the hangar you designate. 

Benefits include the following:

• Full warranty: A typical warranty covers most things for the first few years, making operating costs predictable for budget purposes. 
• Customization: You will choose how the interior looks and feels. 
• Modernization: New jets have the latest in technologies, including those involving fuel burn rate and navigation.

Drawbacks include the following:

• Wait times: Popular models can have backlogs lasting years. 
• Depreciation: The steepest value drop happens the moment your jet leaves the factory.

Buying a Pre-Owned Aircraft

A pre-owned aircraft is one that someone else owned and operated before it came to you. The market is variable, as some versions are relatively new and others are decades old. 

Benefits include the following:

• Lower price: Pre-owned jets are often less expensive than newer versions. You could get a larger jet for the price you’d pay for a smaller new one. 
• Immediate use: Jets can change hands within months.

Drawbacks include the following:

• Due diligence: You must ensure that the jet was maintained well throughout its prior life. You won’t have a warranty to protect you. 
• Refurbishment costs: Updating an interior or electronics can be expensive.

Cost Comparison Between New & Pre-Owned Aircraft

New and pre-owned aircraft are quite different, in terms of their typical sales price and ongoing operational expenses. Your costs can vary, but this table can help you understand typical costs involved.

feature	buying new (factory + fresh)	Buying pre-owned (Used)
Purchase Price	Premium: $1M to $75M+ depending on cabin class.	Discounted: Typically, 30% to 50% less than new.
Delivery Timeline	Backlogged: Often 18 to 24+ months.	Immediate: Usually 30 to 60 days (post-inspection)
Depreciation	Steep: ~14% to 18% in year 1 alone; up to 50% by year 5.	Stable: Steepest losses already absorbed; ~ 3% to 5% annually.
Maintenance	Predictable: High reliability; minimal out-of-pocket costs due to warranties.	Variable: Higher risk of “unscheduled” repairs; costs rise with airframe age.
Warranty	Comprehensive: Typically, 5 years for airframe and engines.	Limited/none: Usually sold as-is/
Customization	Bespoke: Buyer chooses all finishes, floor plans, and tech from the factory.	Limited: Must accept existing design or pay for expensive aftermarket refits.
Tax Benefits	100% Bonus: Fully deductible in the first year for qualified business use.	100% Bonus: Also qualifies for full deduction

When Buying New Aircraft Makes Sense

Choosing a new aircraft is ideal for individuals who fly regularly and want an aircraft that matches their exact parameters and preferences. These individuals know exactly what they want and are willing to wait for (and pay more for) the perfect aircraft. 

When Buying a Pre-Owned Aircraft Makes Sense 

It’s best to choose a pre-owned aircraft if you need something quickly. You’re more likely to find something that can fly within a few months if you search the used market. This option is also ideal for people who have a trusted maintenance partner who can help to manage wear and tear of an older airframe. 

Element Aviation Can Help 

At Element Aviation, we can help you determine which option makes the most sense for you. Our decades of experience ensure that we can find the right aircraft at the right price and guide you from start to finish.