Piper Lance (1976-1978)

These figures are typical for the model, not a specification for any individual aircraft. Real-world numbers vary with year, installed equipment, weight, modifications and engine condition — often by more than you would expect. Use them to compare types, and confirm anything you would act on against the Pilot's Operating Handbook for that specific airframe and a prebuy inspection.

Pricing

All-in at ~100 flying hours a year, using the midpoint of each range — the same figures broken out under “Cost to own” below. Your number will differ, and mostly for two reasons. Experience sets your insurance: a 2,000-hour pilot with recent training pays 30–40% less than a 200-hour owner, and student owners pay 20–40% more — on the same aircraft that is often a doubling. Location sets your hangar: a T-hangar runs $200–400 a month in the Midwest against $400–1,500 in a coastal metro, and an outside tie-down is less again. Engine reserves move too — a local shop reusing your serviceable cylinders can come in 30–50% under the national specialty-shop pricing we quote, though you trade the warranty and turnaround that comes with it. Reserves are money set aside toward a future overhaul, not a bill this year, and the annual inspection figure is the shop’s labor to look — whatever they find is separate.

Cost to own — estimate

Set your yearly hours and local fuel price. Fixed costs (insurance, hangar, annual inspection) don't change with hours; fuel, maintenance and the engine reserve do.

Fuel (15.5 gph)

$10,075

Engine reserve

$2,600

Propeller reserve

$175

Maintenance, parts & wear items ($22/hr)

$2,200

Insurance

$2,400–$4,850

Hangar

$5,451–$13,628

Annual inspection (labor only)

$2,500

Databases & subscriptions

$700

Total per year

$31,415

Per flight hour

$314

Miles flown / year (at cruise)

17,837 mi

Cost per mile

$1.76/mi

Estimate, not a quote. Where a line shows a range, the total, per-hour and per-mile figures use its midpoint— insurance moves most with your experience and time in type, hangar with where you base the aircraft, so your own number could sit at either end. Annual inspection is the shop's labor to open and inspect — what they find is the maintenance line, which covers oil changes, plugs, tires, brakes, hoses, lights, a battery and vacuum pump amortised over their life, and the unscheduled squawks that are the largest and least predictable part of it. Reserves are sinking funds toward an overhaul, not a bill you pay this year — and note that a propeller is due on hours or calendar time, typically six years, so flying less does not put it off forever.