Cessna 172 Price Guide

Cessna 172 Price Guide

The Cessna 172 Skyhawk is a popular four-seat, single-engine aircraft. Known for its reliability and ease of use, it appeals to both private pilots and flight schools. Understanding the price points for the Cessna 172 can guide potential buyers in their decision-making process. Prices can vary significantly based on several factors.

New vs. Used Cessna 172

Brand new Cessna 172s come with the latest avionics, enhanced safety features, and warranties. However, they command a higher price. As of 2023, a new Cessna 172 Skyhawk costs approximately $400,000 to $500,000. This price range can vary based on customization options and additional equipment.

Used Cessna 172s offer a more affordable entry into aircraft ownership. Prices for used models can range from $30,000 to $300,000. The price depends on the model year, total flight hours, maintenance history, and overall condition.

Factors Affecting Used Prices

Model Year and Variants

Older models, such as the early 1960s Cessna 172s, may be priced lower, often between $30,000 to $50,000. Mid-70s and 80s models may range from $50,000 to $100,000. Newer models from the 1990s onward typically start at $100,000 and up. Variants like the Cessna 172RG (retractable gear) or the 172 XP (higher-powered engine) can also affect pricing.

Total Flight Hours

Aircraft with higher hours tend to be less expensive due to wear and potential upcoming maintenance. Flight hours act as a measure of usage. An aircraft with lower hours might command a premium due to less wear on the engine, airframe, and avionics.

Avionics

The type and condition of avionics play a significant role in pricing. Older steam-gauge cockpits are generally less expensive. Aircraft equipped with modern glass cockpits, such as Garmin G1000 systems, will be priced higher. Avionics upgrades enhance the flying experience but add to the cost.

Operating Costs

Beyond the purchase price, operating costs are crucial. Fuel expenses, maintenance, insurance, hangar fees, and annual inspections contribute to the overall cost of ownership. The Cessna 172, with its fuel-efficient Lycoming engine, offers reasonable operating costs compared to larger aircraft.

Fuel

The typical Cessna 172 burns around 8 to 10 gallons of Avgas per hour. At an average price of $5 per gallon, flying costs about $40 to $50 per hour just for fuel. This varies based on flight conditions, weight, and engine settings.

Maintenance

Regular maintenance is vital for safety and longevity. The cost includes annual inspections, oil changes, and periodic overhauls. Annual inspections alone can cost between $1,000 to $2,000. Engine overhauls range from $20,000 to $40,000, depending on the extent of the work required.

Insurance

Insurance costs depend on pilot experience, coverage levels, and the aircraft’s value. Owners can expect to pay between $1,500 to $3,000 per year for liability and hull coverage. Higher-valued aircraft and less experienced pilots typically face higher premiums.

Hangar/Tie-Down Fees

• Hangar Space: $200 – $800 per month
• Tie-Down Space: $50 – $150 per month

Hangar spaces offer protection from the elements and added security, often justifying the higher cost.

Financing Options

Many buyers opt for financing to spread the cost of purchasing a Cessna 172. Aircraft loans typically require a down payment of 10-20% with varying interest rates based on credit scores and financial history. Loan terms commonly range from 5 to 20 years.

Popular Upgrades

Owners might consider specific upgrades to enhance the aircraft’s performance, safety, and comfort. Common upgrades include:

• Avionics: Modernizing the cockpit with advanced avionics can improve situational awareness and safety.
• Autopilot Systems: Adding or upgrading autopilot systems for long flights or IFR capabilities.
• Interior Refurbishment: Updating seats and interior materials for improved comfort.

Resale Value

The Cessna 172 maintains good resale value due to its popularity and robust design. Proper maintenance and timely upgrades can ensure high resale value. Market conditions, economic factors, and the specific characteristics of the aircraft will influence the final resale price.