A few clients that we’ve talked to have been debating about getting into a Learjet 75 or a pre-owned Challenger 300 for around the same price. If you take the $13.5M sticker price of a new Lear 75 as a benchmark, and applied that to the pre-owned Challenger 300 market, you’d find yourself with a very capable super-midsize jet. In fact, with well-equipped 2009 and 2010 Challenger 300 aircraft selling in the $12M-$14M range, it might be worth it to jump into the bigger plane with longer legs.
So what are the pros and cons to both scenarios? If you were to choose to purchase the Learjet 75, you’d obviously be getting the newer and lower time aircraft. Getting into a new bird means a good warranty, interior and equipment options, and no prior history to deal with. The Lear 75 has the new Garmin-made Bombardier flight deck avionics suite, which is a much more sophisticated system and widely praised by pilots.
The Challenger 300 has 830 cu. ft. of cabin space, whereas the Lear 75 only has 620. If you’ve sat in both planes, you’ll know the difference of 210 cu. ft. is pretty significant, although both do have flat floors. The biggest difference between the two aircraft from a mission standpoint is the nautical mile range capabilities. The Challenger 300 can fly from New York to London, L.A. to Hawaii, or D.C. to the Bay area full of passengers and bags in most conditions with an average range of 3,100nm. The Lear 75 only has a range of 2,100 nm (give or take 100nm with respect to conditions, altitude, and weight).
From a value perspective, I would lean in favor of an Challenger 300. The previous owners have already taken the biggest hit in depreciation. Plus, there has been no evidence to suggest that Bombardier will be abandoning its well established Challenger fleet like it did the Learjet 85 project. To be fair to the Lear 75, sitting in its cabin a couple of months ago gave me goose bumps. The redesigned interior is impressive, and I love the entertainment packages.
