You’ve decided to heat your home with propane. Great choice! Now, you have another decision: whether to buy or lease your propane tank. Like most big decisions, there are advantages and disadvantages to consider.
| If you Own: | If you Rent: | |
| Choice of Supplier |
You are free to choose your supplier and switch suppliers whenever you like. | You can only have your tank filled by your supplier. |
| Up-front Costs | You pay for the cost of the tank, regulators, blocks, and more. | You pay nothing up front – all costs are covered by your supplier. |
| Installation | You need to find a licensed installer. (This is not a weekend DIY project!) | Your supplier handles installation. |
| Service | Some suppliers will not service tanks they do not own. | Your supplier handles service. |
| Maintenance |
You are responsible for all maintenance and repairs. |
Your supplier covers all maintenance and most repairs. |
Advantages of Owning
For starters, you have the option to change suppliers whenever you like. This means you can shop around for the best propane price available whenever you need a refill.
In addition, you can consume as little (or as much) propane as you need – with no minimum consumption rates. You may also save money over the long run by eliminating rental payments each month.
Disadvantages of Owning
The up-front costs of purchasing and installing a propane tank are significant. While costs vary based on the size of the tank and other factors, you should plan on spending at least $2,000.
And you’re not done there. Because if you own the propane tank, all service and maintenance are your responsibility. Those costs can add up over the years.
Advantages of Renting
All of the costs described above are your propane supplier’s responsibility. This can save you thousands on propane tank service and installation.
And because your propane supplier is charged with ensuring the safety and integrity of their tanks, you have one less thing to think about.
Disadvantages of Renting
You can only buy from the supplier that owns your propane tank. That’s why it’s important to do your homework by researching how their current rates compare to those of their competitors.
You may also have to agree to a minimum usage rate if you rent your tank from a propane supplier.
Take the first step now.
Request your no-obligation, online home propane quote.
Propane Tanks Go to blog list page filtered for the category