If its like the other Aeroncas, the biggest hassle is trying to find
one that is airworthy. I spent over a year looking for an airworthy
champ. All I could find is unairworthy or show planes (recently
restored). Since I was looking for something to just knock around in, I
wasn't interested in sometime as pretty as a show plane.

The problem is the wood spar. Although they may still be very strong,
the FAA has an AD that says if there are any nails backing out or if
any part of the spar is rubbing on a rib, the spar is unairworthy. It
is very challenging to find a Champ that does not have one of those
spar problems. Most people seem to agree that it doesn't make the plane
unsafe to fly. It does, however, require finding an IA willing to sign
annuals off on a plane that doesn't meet the AD requirements. A full
spar job seems run between $10K-$12K.

-Robert