Renting Vs. Leasing Your Propane Tank: Pros And Cons
One of the most important decisions you will have to make as a new propane customer is whether to lease or buy your propane tank. The answer to that question depends on several factors that you will have to weigh before making your decision.
Let’s take a look at pros and cons of owning and leasing your propane tank.
Option 1: Owning a Propane Storage Tank
- You control who supplies your propane
- You can choose a tank from any manufacturer
- You are responsible all installation and maintenance tasks and costs associated with your tank, including repair, replacement, and parts.
- You are also responsible for periodic tank recertification according to local and state laws
- Some suppliers charge a fee for using your own tank; others charge a preferred propane rate to customers who use the supplier’s tank
Option 2: Leasing a Propane Storage Tank
- Your supplier is completely responsible for installing and maintaining the tank, including repair costs
- Suppliers often offer preferred propane rates to customers who lease
- Some suppliers offer free or discounted premium services, such as tank monitoring, to customers who lease their tank
- When you lease your tank, you are bound to your supplier
- Changing suppliers often involves a termination fee
As you can see, the choice to rent or lease your propane tank is an important one; for most people, leasing is the better option (and the one we recommend), since the cost and hassle of tank installation and upkeep can be quite high. Propane tank leasing gives you the peace of mind of not having to think about propane tank repairs and service, since it’s always handled by licensed professionals at no cost to you.
Not sure whether to buy or lease your propane tank? Give Roach Energy a call – we’ll help you sort through your options and find the right propane tank for your home and usage.