Covid-19 and why now is the time to buy

PORT ORANGE, Fla. - Nov. 5, 2020 - PRLog -- While we all try to live with Covid-19 around us, we have to realize that at least for the near future this will be the new normal, and we simply have to adapt and move on with business, taking the necessary safety precautions of wearing a mask and social distancing , some might think it's time to hold back on making those expensive purchases, such as a yacht or private jet, but in reality now is actually the time to buy those yachts and aircraft.

It's a Buyer's Market: Due to tax cuts which have lowered the acquisition costs of an aircraft many companies and high net worth individuals have taken advantage of this to either acquire their first aircraft or upgrade their existing aircraft.
Abundant Inventory: Presently there are ample supplies of aircraft, for example there are 29 Bombardier Challenger 300's, 153 Cessna Citation 525's, 28 Dassault Falcon 900's, 53 Gulfstream G550's to name but a few.

Sellers Take Cover: Many owners are downsizing and knowing that the market is flooded are pricing their aircraft well under the forecasted pricing for 2020, and even then, many are incredibly open to negotiate down even further.

ADS-B Upgrades: Most of us knew years ago that ADS-B was going to be needed yet many owners kept putting it off and now rather than spend the money they have decided to simply sell their aircraft.

Commercial Airlines and Covid 19: As airlines struggle, they have cut employees and routes making it even more difficult to get close to a meeting as they streamline and leave some regional airports void of any commercial connecting flights.

Low Fuel Costs: Thanks to lower fuel costs typically the largest single operating cost line item, the operating costs of a private jet have declined, and that combined with the fact newer jets are becoming more fuel efficient keeps the everyday costs of ownership way down..

Older Might be Better: As I approach 65 in 2021 my opinion might be a little bias on this one, but maybe older is better, for years many people have steered away from older aircraft, but you can buy an older jet, refurbish, update the avionics and have virtually the same identical features as a more modern jet, and save millions.

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