Propane tanks: Should I own or lease?
This is a question we get A LOT. Is it better to own or lease my propane tank. It seems like a simple question but it really depends on a lot of factors. Here are the pros and cons of each:
Leasing Pros
In our experience about 70% of propane users DO NOT own their tanks, and the reason is pretty simple. It’s just easier, right? You call the supplier for propane, they provide the tank and you don’t think another thing about it. No muss no fuss, and the supplier is responsible for maintenance, recertifications, and testing.
Leasing Cons
The biggest con of leasing is that in almost all US states, you’re not allowed to buy your propane from anyone else. That means your propane company will often charge you more money for your propane than if you owned it outright. It can also very often include a lot of fees. Fees to rent the tank, fees if you don’t use enough propane, delivery fees, or fees to disconnect and remove the tank if you ever want to leave the company for some reason..
Owning Pros
The biggest benefit of owning your propane tank is freedom. You can buy from whoever you want, and as a result that usually means your propane price is going to be a lot lower than if you leased your tank from your supplier.
Owning Cons
The biggest con of owning your tank is how much it costs. Propane tanks are not cheap people. They cost hundreds and sometimes thousands of dollars. And if you own it and something breaks- you’re responsible for fixing it. You also need to maintain it, and remember that even though you can use any propane company you want, the best companies will not deliver to you unless they’ve pressure tested and done a full safety check on your whole system.
The Verdict?
So to summarize:
Leasing is easy, but can end up costing you a lot of money in higher propane prices and fees. Plus you’re stuck with one company.
Owning means a lot of freedom and lower prices, but it also means more work and responsibility.
The Tankfarm Solution
At Tankfarm we solve the problem by using our buying power to buy propane at lower prices and eliminating any and all fees, and we don’t allow lock ins. Our program makes everyone happy, whether or not you own or lease. To learn more or get a quote check us out at tankfarmgroup.com.
