More and more homeowners are discovering the benefits of using propane for heating. These benefits include reliability, safety, efficiency, performance and environmental friendliness. But, once you decide to switch to propane, you must decide whether to rent or buy a propane tank. Like most decisions, there are pros and cons to each. Here’s a quick look at the propane tank rent vs. own decision.
The Pros and Cons of Purchasing a Propane Tank
Purchasing a propane tank is a big investment, and it’s one that requires the initial outlay for the tank as well as professional installation — most suppliers won’t sell you a tank for self-installation unless you’re licensed yourself.
Financing is sometimes available, and you may be able to secure a warranty and ancillary parts like piping, regulators, fittings and more as part of the deal. The tank should come full, and you will be able to purchase additional propane from any provider you like. You can secure the least expensive fuel if you shop around in an area with options.
But purchasing your own propane tank comes with all the trappings of ownership. You’re on the hook for maintenance and repairs, which can be significant over the lifespan of a tank.
You’ve also got the initial investment to consider, and installing a propane tank is not a home improvement project that is likely to provide a return on investment upon resale. As mentioned, you’ll be able to purchase propane from any source, but your pricing may be different from that offered to propane tank renters. That’s because propane suppliers are often engaged in an autofill system with those using their tanks, providing a contract and price break in the process.
If you’re the type of person who likes to purchase rather than rent in general — cars, homes and more — buying a propane tank may fit with your personal philosophy. But propane tank renters have access to many benefits that owners do not.
The Pros and Cons of Renting a Propane Tank
Leasing a propane tank is an attractive option. Rental agreements usually feature a minimum threshold of use or number of appliances connected, and these agreements often stipulate that you must buy your propane from the company that owns the tank.
But this can work in your favor. Propane tank owners provide preferred rates to their customers — rates not available when you buy a tank. And, of course, you never have to worry about maintenance or repairs. The owning company has a vested interest in the performance of your propane tank, and it will make sure the tank is working in tip-top condition year round.
Renting a propane tank gives you all the benefits of owning and a whole lot more — with none of the hassles. Stay safe, warm and comfortable throughout the winter when you rent a propane tank.
Foster Fuels: Since 1921
At Foster Fuels, we are your local propane and home-heating experts. We’ve been serving communities throughout Virginia since 1921, providing expert guidance and high-quality products and services. If you’re debating purchasing vs. renting a propane tank, contact us to learn more about your options.
Learn More about Propane Tanks:
- Above Ground Vs. Underground Propane Tanks
- What Does My Propane Tank’s Expiration Date Really Mean?
- Where Should I Store My Propane Tank?
- 5 Things to Ask When Buying a House with Propane Heat
- Switching to Propane
Post updated on January 18th, 2021