Question: What are some expenses i can expect from owning a Cessna 172 airplane ? Insurance, Fuel, Ect. – Thanks?

(airplane insurance)

Best answer:

Answer by John R
There will be “fixed”costs, which will not be effected by the amount of utilization of the aircraft:
insurance
tie down / hanger fees
annual inspections

and of course “operating expenses”, which are tied to actual usage:
Fuel
Oil
Maintenance / Overhaul costs.

The smartest thing to do is to setup a separate bank account for maintenance and overhaul expenses, and pay into it for every hour you put on the plane. An engine overhaul on a C172 will likely run well into 5 figures ( in US $ ), and the annual inspection will often require cash to correct any problems found, so you will want to plan ahead.