Cessna 172 Skyhawk remains a popular choice for aviation enthusiasts and military training

According to Global Air, the cost of a new Cessna 172 starts at $400,000 but can increase to $650,000 with optional upgrades. Financing options are available, with an estimated monthly payment of $9,434.22 over five years at a 5% fixed annual interest rate.

A pre-owned market exists for the Skyhawk, with prices for models from the 1960s starting at $60,000. Models from 2001 are priced around $159,000. Prospective buyers are advised to conduct thorough inspections to ensure the aircraft's condition aligns with personal and financial expectations, and to adapt to the specific challenges of older models.

"There are many steps involved in the buying process," according to Cessna Owner Organization, highlighting the complexities new buyers might face.

Operating a Cessna 172 entails considering fixed and variable costs, summarized by the Aircraft Cost Calculator, which projects an annual budget of $113,440 and an hourly cost of $567 over 200 flight hours.

Routine maintenance and repairs are essential for maintaining the Cessna 172's airworthiness. The Skyhawk’s engine, Lycoming IO-360-L2A, is renowned for its reliability and requires careful management to prevent excessive overhaul expenses, which can reach up to $35,000.

Despite being more economically viable, the ownership of a Skyhawk involves insurance considerations. "Marsh McLennan, an insurance expert," notes that the Cessna 172 "often leads to lower premiums," though potential issues, such as exhaust system problems and aging avionics, must be managed.

Moreover, owners must account for hangar space and tie-down costs to protect the aircraft, as well as the potential for unexpected expenses and maintain adherence to a balanced operational budget.