Sacramento charterer breaks down Gulfstream G550 ownership costs, why it's actually a 'good buy'

This Sacramento charterer is considering acquiring a Gulfstream G550 after breaking down the private jet ownership costs.

The company also runs a TikTok channel, which is the platform the Sacramento charterer chose to look in detail at private jet ownership costs and benefits.

Everyone knows private jets are expensive, but it’s always interesting to learn more about how and in what ways.

And the most expensive things about them might surprise you.

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Udetailers, a company that operates out of Sacramento, California, is considering buying a used Gulfstream G550 – the same model that Rick Ross owns.

The company mainly specializes in jet detailing, but it recently got funding for its charter business.

So it took to TikTok to break down the costs and benefits of owning a Gulfstream G550, namely a 2012 model.

This particular jet would cost them $18 million to buy and then $10,000 per hour to charter.

That doesn’t include crew salary, but it does include fuel and maintenance.

According to Udetailers, the jet is realistically going to be booked 70 percent of the year, with an average flight time of three hours, which would translate into a yearly revenue of $7.65 million.

The impact of crew salary on the total cost might surprise you.

Udetailers says it’s looking at a total of $500,000 a year for two pilots and at least one flight attendant.

The fixed-base operator (FBO) and hangar fees are also steep, coming in at $200,000 and $120,000, respectively.

Translated, you’re going to need $320,000 a year to give your jet a ‘home’ and somebody to look after it when it’s parked.

Detailing costs $400,000, and you can buy a Lamborghini Temerario and a Chevy Corvette for that.

Amazingly, insurance is by far the lowest cost item on the list, at ‘just’ $20,000 per year according to Udetailers.

Catering is also relatively inexpensive, comparatively, at just $60,000 per year.

The key element of the math here is that financing the jet over 20 years is going to cost them $1.28 million a year, leaving them with $5 million in profit, including maintenance costs.

Not a bad deal.