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Leasing vs. Owning Your Propane Tank: Pros and Cons

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.

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. Ask your supplier if either of these cases applies.

Leasing 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: buying a tank gives you the freedom to choose any supplier you want to, but leaves you with the responsibility for upkeep and installation. Leasing gives you the peace of mind of not having to think about propane tank repairs and service, but comes at a cost of losing your ability to choose a supplier.

Not sure whether to buy or lease your propane tank? Give Ehrhart Energy a call – we will find a solution together.