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Top 5 lowest-cost private jets available today

A private jet on a budget?
  • All private jets aren’t too expensive
  • The cheapest private jet costs under $3 million
  • Here are five lowest-cost private jets that you can get today

Published on Apr 21, 2024 at 3:09PM (UTC+4)

Last updated on Apr 22, 2024 at 8:35PM (UTC+4)

Edited by Daksh Chaudhary
private jets top lowest cost private jet

If owning a private jet is on your to-do list and you’re on a budget, we are here to help you find the top 5 lowest-cost private jets.

There’s a common misunderstanding that you need tens of millions of dollars to own a private jet in modern times.

That’s certainly not the case here, and below, we will showcase — relatively speaking — five low-cost private jets you can buy today.

OK, they’re still not exactly affordable, but you don’t need Musk-money to get one, that’s all.

READ MORE: Inside the $78 Million private jet that’s owned by Elon Musk, Cristiano Ronaldo and Jeff Bezos

Eclipse 550

READ MORE: Top 10 most expensive private jets of 2024

Firstly, we have the Eclipse 550 — a twin-engine jet developed by Eclipse Aerospace.

It falls under the ‘Very Light Jet’ (VLJ) category, with a seating capacity of four to five passengers.

Plus, the Eclipse 550 is certified for single-pilot operation.

That means you can fly it solo if you want.

Despite being an affordable jet, it offers all the essentials you would want in your jet.

Moreover, it can pull off about 375 knots of maximum cruise speed while being able to have a 900 lbs. take-off thrust.

The Eclipse 550 is among the top lowest-cost private jets, selling for around $2.9 million.

Cirrus Vision SF50

Next up, the Cirrus Vision SF50 is a remarkable jet that focuses on safety while being affordable.

This very light jet can carry up to seven passengers during a flight, which is an upgrade from the Eclipse 550.

It’s also among the record holders of aircraft with the shortest wingspan, with a trifling wingspan of 39 feet.

Imagine how it would look standing next to the world’s largest private jet.

And then, there are the safety features put in by Minnesota-based Cirrus Aircraft.

The Vision SF50 has two unique features — Cirrus Airframe Parachute System (CAPS) and Safety Return.

CAPS will deploy a parachute for you in case the jet stalls or runs into other unexpected issues.

The latter will let the pilot land anywhere just by pressing a button when there’s an emergency.

How fast is it, you ask?

It has a maximum cruise speed of 305 knots.

If you want to get your hands on this fancy private jet, you’d need to shell out around $3.2 million.

HondaJet

The HondaJet is the next entry on the list of the top lowest-cost private jets.

This private jet is insanely popular among buyers because of its value proposition.

It might also have something to do with how it looks — it’s the only very light jet having engines over its wings.

Besides, Honda offers several variants of this jet, and buyers are always interested in pre-owned models of this private jet.

With a maximum cruise speed of 422 knots, it’s quite fast while being an all-rounder.

The list price of the HondaJet starts at $4.8 million but goes all the way up to $6 million, depending on which variant you get.

Embraer Phenom 100EX

The Embraer Phenom 100EX is the successor of the now-discontinued Phenom 100EV, a renowned private jet.

Embraer is already quite famous for creating capable jets, and even the world’s most luxurious private jet is built around an Embraer Lineage 1000E.

Moreover, it can seat up to seven passengers, plus the pilot.

Embraer also included first-in-class safety features in the Phenom 100EX.

It offers advanced avionics systems and a Runway Overrun Awareness and Alerting System (ROAAS) that allows the pilot to make AI-guided landings.

With its two Pratt & Whitney engines, it can pull off a maximum cruise speed of 406 knots.

Overall, the Embraer Phenom 100EX offers great value among all the lowest-cost private jets in this list.

While it’s completely sold out for 2024, it comes at a listing price of $4.96 million.

Cessna Citation M2 Gen2

Finally, the Cessna Citation M2 Gen2 makes it to the list of the top lowest-cost private jets available today.

The Citation M2 Gen2 offers significant upgrades over its already popular predecessor.

Cessna unveiled the first Citation over four decades ago, and the M2 Gen2 continues to tread on its legacy.

It can seat up to seven passengers while having a 1,550 nautical mile (2,875 km) range.

Moreover, it boasts a fully digital autopilot system, among other AI-powered tech.

It’s fast, too, as it can reach a maximum cruise speed of 404 knots at a maximum altitude of 41,000 feet.

The Citation M2 Gen2 is a bit on the pricier side at $6.2 million but makes up for that price tag with the features and brand value it offers.

This sums up the top, lowest-cost private jets that you can buy today.

In the world of private jets, you will certainly keep getting something better as your budget increases, but these five private jets are also great choices.

Despite being relatively cheaper, they are remarkable options for someone looking to buy their first private jet.

Some images used in this story were generated using AI.

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