Planes, jets, and yachts are pricey purchases. It is not just the cost of the transportation vehicle; it is also the upkeep and the fuel. However, there are ways to make your luxury transportation dreams come true without breaking your bank account. Two options are fractional ownership and charters. Here are descriptions of these two options and their differences so you can choose whichever one might work best for you.
If you choose the charter option, you can buy the boat, jet, or plane, but you use the mode of transportation to transport others for money. You do this until the item is paid for in full. For example, if you buy a jet, you buy it on a lease to cut costs on maintenance. You have the option to finish paying off the total purchase price of the jet at the end of the leasing period.
During the leasing period, you offer charters to anyone willing to pay your charter fee. The customers pay for the fuel to fuel the jet to and from their destination, as well as paying for your hourly services and use of the jet for the time scheduled. The idea is to charter enough flights during your leasing period that you can pay for and buy the jet outright. Whether or not you continue chartering flights to help pay for maintenance on your jet and the fuel is up to you. Ultimately, the jet is yours and yours alone.
Fractional ownership is for people who want "a piece of the pie" but not "the whole pie." This allows you to throw in an equal part of all of the expenses associated with the purchase of a major luxury mode of transportation, but not buy it or own it outright yourself. If you have a large family or lots of close friends, this is a good option that could work for you and your family or friends. For example, if you and five family members or five friends who all want to buy a yacht, you can split the cost on the purchase of the yacht. All of you would be present to sign the ownership papers so that everyone's name is on the title and registration for the boat. Then everyone is responsible for fuel, maintenance, and repairs equally, and everyone gets to enjoy the use of the yacht during the year equally.
Learn more about fractional ownership and charters of planes from a company such as Charters By Air Denver.