Piper Arrow Cost of Ownership: What Retractable Gear Adds to a PA-28 Budget
This is the annual budget for a Piper Arrow, the retractable-gear PA-28. It is built around the normally aspirated 200 hp Arrow II and III, shows what the gear, propeller and complex-airplane insurance add compared with a fixed-gear Archer, and notes where Turbo Arrows cost more.
Which Arrow are you budgeting for?
Piper built the PA-28R Arrow from 1967 in several generations. The differences that matter to the budget are the engine and the tail:
| Model | Engine | Budget notes |
|---|---|---|
| Arrow (PA-28R-180) | Lycoming IO-360, 180 hp | Cheapest to buy; lowest fuel burn; oldest airframes |
| Arrow II (PA-28R-200) | Lycoming IO-360, 200 hp | Common value choice; this page's budget basis |
| Arrow III (PA-28R-201) | Lycoming IO-360, 200 hp | Tapered wing and more fuel; budgets like the Arrow II |
| Arrow IV (PA-28RT-201) | Lycoming IO-360, 200 hp | T-tail; similar running costs |
| Turbo Arrow III / IV | Continental TSIO-360, turbocharged | More fuel, turbo system upkeep and a shorter overhaul interval |
Prices are hedged. The Piper Arrow buyer's guide reports September 2026 asking prices from about $35,000 to $232,000 across 127 listings, with a median near $135,000, which is the illustration used here. Asking prices are not sale prices; verify with Vref or Aircraft Bluebook. Specs are on the Arrow II model page.
Piper Arrow annual budget at 50, 100 and 200 hours
Fixed costs
| Item | Per year | Basis |
|---|---|---|
| Insurance (hull + liability) | $2,400 | Assumption; complex retractable, experienced private pilot |
| Hangar | $4,200 | Assumption ($350/month) |
| Annual inspection (before squawks) | $2,800 | Assumption; includes a gear swing on jacks |
| Avionics databases, subscriptions, misc. | $1,000 | GPS database, EFB, small parts |
| Total fixed | $10,400 |
Hourly operating costs
| Item | Per flight hour | Basis |
|---|---|---|
| Fuel | $76.02 | 10.5 gph × $7.24/gal 100LL |
| Oil and filters | $2.50 | Four-cylinder oil changes and top-ups |
| Engine reserve | $22.50 | Assumed $45,000 IO-360 overhaul ÷ 2,000 hr |
| Propeller and governor reserve | $3.00 | Constant-speed prop overhaul spread over its interval |
| Landing gear system reserve | $4.00 | Hydraulic pump, actuators, switches, gear-down warning |
| Unscheduled maintenance reserve | $17.00 | Brakes, tires, magnetos, cylinders, avionics |
| Total hourly | $125.02 |
Total by utilization
| Hours / yr | Operating cost | Per hour | With loan | Per hour with loan |
|---|---|---|---|---|
| 50 | $16,651 | $333 | $27,955 | $559 |
| 100 | $22,902 | $229 | $34,206 | $342 |
| 200 | $35,404 | $177 | $46,708 | $234 |
Every line is an assumption; replace it with local quotes. The engine reserve uses Lycoming's 2,000-hour TBO for the IO-360 (Service Instruction 1009); see understanding SMOH and TBO for why calendar time and condition matter as much as hours.
What "complex" adds: the Arrow vs Archer gap
Using the same method and local-cost assumptions as the Archer budget, the Arrow costs more in four places:
| Line | Arrow | Archer | Difference |
|---|---|---|---|
| Fixed costs per year | $10,400 | $9,200 | $1,200 |
| Hourly operating cost | $125.02 | $108.28 | $16.74 |
| At 100 hours a year | $22,902 | $20,028 | $2,874 |
- Insurance. Retractables cost more to insure, and pilots new to complex airplanes may face dual-time requirements.
- Landing gear. The annual includes a gear swing on jacks, and the hydraulic pump, actuators and switches wear. Many Arrows were delivered with an automatic gear-extension system; know its status and paperwork.
- Propeller. The constant-speed prop and governor need periodic overhaul.
- Fuel. About one more gallon an hour than an Archer on our planning burns.
The transition itself, including training and financing the step up, is covered in the Archer to Arrow upgrade guide.
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Turbo Arrows: what the turbocharger costs
Turbo Arrow III and IV models use turbocharged Continental TSIO-360 engines. Continental publishes a shorter overhaul interval for these engines than Lycoming does for the normally aspirated IO-360; confirm the figure for the specific engine model. On our assumptions (12 gph, a $50,000 overhaul over 1,800 hours and $5 an hour for turbo system upkeep), a Turbo Arrow costs roughly $21 more per hour to run than a normally aspirated Arrow, or $2,114 over 100 hours. That buys altitude performance that matters if you cross mountains or fly high to find better winds.
Insurance for a Piper Arrow
We budget $2,400 a year as an assumption. There is no Arrow-specific benchmark in our verified sources. BWI's 2026 figures for a privately owned fixed-gear Cessna 172 ($1,200–$2,500 a year for an $80,000–$150,000 hull and a 250+ hour pilot) are a floor for comparison; expect a retractable to cost more, and expect conditions such as dual time in type if you are new to complex airplanes. A gear-up landing is the classic Arrow claim, so ask how your policy's deductibles and any gear-up provisions work. See insurance requirements.
Where does the loan payment fit?
As of September 2026, piston aircraft loan rates quoted by major aviation lenders generally start around 7% for well-qualified borrowers and run to roughly 10%. AOPA's guidelines call for at least 15% down on post-1960 singles and allow 20-year terms on loans of $75,000 or more. At $135,000 with 15% down, the $114,750 loan costs $942 a month over 20 years at 7.75%, or $1,080 over 15 years.
| Term | 6.99% APR | 7.75% APR | 9.99% APR |
|---|---|---|---|
| 15 years (180 mo) | $1,031/mo | $1,080/mo | $1,232/mo |
| 20 years (240 mo) | $889/mo | $942/mo | $1,107/mo |
Loan amount $114,750. Principal and interest only; excludes insurance, taxes and fees. Illustrative, not a quote.
Lenders will ask for a pre-buy that covers the gear system and the wing spar AD status. See aircraft loan requirements.
How this page differs from related Piper pages
This page is the Arrow's annual budget. The buying decision, including which generation to choose, is in the Piper Arrow buyer's guide; specs are on the Arrow II model page. For the next step up, see Arrow to Saratoga or Arrow to M350. For neighbouring budgets, see the Archer and Mooney M20J pages or the cost of ownership hub.
Frequently asked questions
How much does a Piper Arrow cost to own per year?
On this page's planning assumptions, a normally aspirated Arrow flown 100 hours a year costs about $22,902 to operate before financing, or $229 per hour. A loan on a $135,000 example (15% down, 7.75%, 20 years) adds about $11,304 a year. Insurance for a retractable and gear maintenance are what separate it from a fixed-gear PA-28.
How much more does an Arrow cost to own than an Archer?
On this site's assumptions, about $2,874 more a year at 100 hours: $1,200 in fixed costs (insurance and a gear-swing annual) plus $17 per hour for extra fuel, the constant-speed propeller and a gear-system reserve. Purchase price, loan payment and any gear-up risk come on top. Your own quotes will move the gap.
How much fuel does a Piper Arrow burn?
We plan on 10.5 gallons per hour for the 200 hp Lycoming IO-360 in the Arrow II and III, about $76 per hour at $7.24 a gallon for 100LL (AirNav national average, September 2026). Turbo Arrows with Continental TSIO-360 engines burn more; we plan on 12 gph for them.
What endorsement do I need to fly an Arrow?
A complex endorsement under 14 CFR 61.31(e), because the Arrow has retractable gear, flaps and a controllable-pitch propeller. At 200 hp it is not a high-performance airplane, so no high-performance endorsement is needed. Insurers usually add their own conditions for pilots new to retractables, such as dual time in type before flying solo.
Does the wing spar AD apply to the Arrow?
Yes. AD 2020-26-16 covers the Arrow models and requires an eddy current inspection of the lower main wing spar bolt holes at 5,000 factored service hours, a calculation that weights 100-hour inspection time heavily. The AD followed a 2018 wing separation on a training Arrow, so ex-school airplanes are the likeliest to be due. Check the calculation before you buy.
What is the monthly payment on a Piper Arrow loan?
At a $135,000 example price with 15% down, the $114,750 loan costs about $889 a month at 6.99%, $942 at 7.75% and $1,107 at 9.99% over 20 years. As of September 2026, piston loan rates quoted by major aviation lenders generally start around 7% and run to roughly 10%.