Vinyl wrap or paint
Vinyl wrap cannot be used to replace paint, it is a porus covering which provides NO corrosion protection. The vinyl wrap needs to be applied over a clean coat of paint or epoxy primer, application over bare metal will result in increased corrosion and application over poor quality paint will create a poor finish on the wrap.
Pa28 paint job should be in the 10-20k range depending on the shop. I suggest the OP ring around for a few quotes and ask exactly what they get for the money. In my experience a bad paint job will end up costing more than a good one in the long run.