For many things, renting is an easier option than owning simply because over time it's cheaper. With light aircraft, the situation is slightly different as people develop very strong preferences for specific makes or models, and they want to be sure that they can fly those models whenever they want. If you can afford to buy, then you'd think buying would be the best choice. For small luxury aircraft, however, renting has some specific benefits over owning.
You Can't Beat the Rental Price
You knew price might be a factor, right? But you might not realize just how big of a factor it is. Luxury aircraft can cost over $1 million per plane for basic models. If you're a multi-millionaire, that might not be a lot to you. But to spend that much on rental costs, even if you were renting constantly, would take you decades to match. Rentals for luxury aircraft range from per-trip rentals (similar to renting a car for the weekend) to membership clubs where you pay a monthly fee — and even those monthly fees are still going to save you money. This is not like renting some furniture where your rental bills might equal the cost of owning the furniture within a couple of years; this is something where your rental fees aren't going to equal the purchase price.
You Won't Have to Handle Maintenance
Luxury aircraft are wonderful planes, but that marvelous performance and comfort comes with a caveat. You have to perform maintenance and service on the planes a bit more often than on many less-luxurious planes. By renting, you don't have to worry about maintenance at all. The company that rents out the planes is the one that has to keep them in great shape. Of course, that does mean you need to find rental companies that are highly trustworthy so that you know the planes you rent will be in terrific shape.
Upgrades
When you buy a plane, you'll have that plane for at least a few years. Maybe you'll get a newer model at some point, but in any event, you'll have the same model for a while. If you rent, you're always renting newer, upgraded models. Rental companies for planes, like those for cars, like to keep their models to within just a few years of "new" (often two to three years old). So, if a plane manufacturer releases a new model that has some nifty features, you'll likely see that among available rentals soon. Meanwhile, a plane owner has to purchase an entirely new plane.
Renting luxury small aircraft is simple, and for those who are willing to pay monthly fees, very convenient. Look around for Diamond 62 rentals or other plane rental options to learn more.