It’s the middle of December and private jet providers are pushing to get deals done by the end of the year. Salespersons have their eyes on sales quotas and bonuses. As a result, they may urge you to “Buy now to take advantage of end of the year incentives,” or “Buy now before the prices go up in January,” or “Buy now so you can fly that holiday vacation on a private jet.”

Some incentives may indeed expire at the end of the year, but new incentives likely will be available in January. Some prices no doubt will go up in January, but at least with the fractionals, your management fee and hourly rate will increase in January even if you buy now. Flying that holiday trip privately is enticing, but the holidays often include “peak travel days” when you may not be guaranteed an aircraft.

All that said, my advice is not necessarily that you hold off on making a deal, but that you not rush into a deal without doing your homework, because the cost of making the wrong deal will far outweigh any year end benefits and incentives.

Here are some suggestions to keep in mind as you consider any private air travel investment:

Know thyself. Make sure that you assess your needs carefully and thoroughly. How many flight hours do you need? Where do you intend to fly? What’s your budget (both in purchasing the investment and on an ongoing basis)? Do you have any special needs, such as luggage requirements or flying two flights simultaneously if say, you’re flying family in from various locations.

Identify the best type of jet program for your needs. Is fractional ownership best suited to your needs? A fractional jet card like Marquis? A block charter jet card like Sentient? Traditional charter?

Shop around. Once you determine the right type of program, shop around to find the one that best suits your needs and budget.

Know the cost. Use a sharp pencil and estimate what the investment will cost you all in. Include fuel surcharges, expense increases and, in the case of fractionals, a reasonable estimate of the resale value of your share.

Read the fine print. The contracts may look simple, but read them carefully and make sure you understand them. These documents, and not the beautiful brochure, will govern your rights and obligations.

Negotiate for a better deal. The jet company will tell you that everyone signs the same “standard” contract. Yet, there’s often room to negotiate. (In a recent deal, we negotiated over 150 changes to NetJets’ “standard” contract.) But don’t negotiate just for the sake of negotiating. Negotiate for concessions that satisfy your specific needs and thus add real value to your investment.

We traditionally close many deals at the end of the year. In doing so, we counsel our clients that there’s always time to be thorough. The same is true for you.

James Butler is an attorney and the chief executive officer of Shaircraft Solutions LLC (www.shaircraft.com), based in Bethesda, Md. Shaircraft advises individuals and businesses with respect to the full range of private air travel investments, including fractional ownership, jet card programs, air taxi services and charter, and also specializes in fractional share valuation disputes.

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