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Leasing Vs. Owning Your Propane Tank

Posted: March 22, 2021

propane tank installation north carolinaOne 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/renting your propane tank.

Owning A Propane Storage Tank

Pros
When you own your own propane tank:

  • You have complete control over who supplies your propane
  • You can choose a tank from any manufacturer rather than being limited to tanks your supplier carries
  • You run no risk of your supplier seizing your propane tank in the event of a billing dispute.

Cons

  • 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.

Other considerations

  • Some suppliers charge a fee for using your own tank; others charge a preferred propane rate to customers who use the supplier’s tank.

Leasing Or Renting A Propane Storage Tank

Pros
When you lease a propane tank,

  • Your supplier will typically install and maintain the tank, covering all routine costs
  • In some cases, you will get preferred propane rates or benefits that are not available to customers who own their tank.

Cons

  • 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 depends on your circumstances and personal preferences. In our experience, however— in most cases, and for most customers—leasing a tank is the way to go.

Looking for a company you can trust to install your propane tank safely and professionally, with propane tank leasing options that will help make the transition seamless and easy? You’ve found one! Contact Rand Wade Oil today to learn more about propane tank installation and propane tank leasing in Greene County, North Carolina!