The current sales market has created a real problem for buyers. Even if you have already determined the airplane that you would like to buy, you may easily find yourself frustrated because you are unable to even put an offer in before an airplane of your liking is sold.
To buy a HondaJet in today’s present market, it is even more than ever paramount to plan ahead, or you will likely find yourself with nothing to buy.
Tip #1 - Hire a Broker
With available aircraft inventory at historically low levels, and demand at an unprecedented high, many transactions in today's market are happening off-market. As a buyer your only way to know about an off-market HondaJet for sale is more that likely through a broker, as the airplane is not even listed for sale. Your hired broker will have connections and access, and be able to find an airplane for you before it is even listed for sale, and give you the opportunity to act quickly. There are also many other reasons to Hire a Broker.
Tip #2 - Know What You Want
In this market time is of the essence. It is important to understand what you are looking for so you can react and secure your airplane before it is sold. Do your research and understand options and model differences. There are several HondaJet models and options to consider. Your broker should understand those differences, and be able to advise you on the current market price point for each. Know what you want so you can act quickly.
"Deciding not to work with a broker is a little like walking into a courtroom without an attorney. You can do it, but it isn’t necessarily wise." – Rene’ Banglesdorf, Flying Magazine
Tip #3 - Secure Financing Early
In this market sellers are getting multiple offers in a very short time. If you aren't prepared to move quickly after putting an offer in, you may find that your HondaJet has been purchased by someone else. Having your financing arranged will show the seller that you are ready and prepared to move quickly. And if you have a way to pay cash you will have an advantage over another buyer who needs to finance.
Tip #4 - Put Money in Escrow
Because offers for airplanes are coming in so fast, you should consider putting money in escrow ahead of time. This will show a seller that you are serious and ready to move forward. To buy a HondaJet you should expect to put down $100K - $250K in escrow with your written offer Letter of Intent.
Tip #5 - Understand Market Pricing
In the last year the market has seen a significant increase in prices, with the HondaJet being no exception. With the long lead times to acquire a factory new HondaJet, prices on the pre-owned market have been climbing steadily. It is very important to understand the current market conditions so you can be prepared to put in a competitive offer. Your broker needs to be able to provide you with current sales comps if you expect your offer to be accepted.
To Buy a HondaJet in today’s Market You Need a Plan
To buy a HondaJet in today’s market you should be prepared with information, a knowledgeable broker, and a plan to move quickly to secure your new airplane.
