Is it better to own your tank or lease it? Seems several pros and cons.

Here it’s cheap to lease and when the gauge or valve goes bad it’s their problem. Edk

I don't know what they go for now, back on my first house we found a 500 gallon tank for $500. This allowed me to shop my sources for the gas to fill it, that was a long time ago and I'm sure that things are way higher now.

KC

seems you can always buy propane cheaper when you own your tank

Yep, buying a property that currently has a leased tank. Now would be the time to switch.

Around here if you lease, only the gas company that supplies the tank can sell you propane


If you own, you can shop for propane best prices

I’ll echo what ERK said. Our biggest complaint when we rented tanks is we could only go with the company that owned the tank. Not a huge downfall as we contracted gas for the winter. But saw some swings on .08 to .35 cents a gallon on different suppliers. Can add up if you use a lot of gas. But tank rent was $28 a year and they took care of everything from the tank to the lines in ground until
It passed the regulator going in to house.

Yes.

Gas companies know whose tank is whose by bonnet color


shop prices, paint your regulator bonnet that color LOL

If you have more than one company for gas just have them set one but if they are a few might save some money on price differentials.

Your tank you have to upkeep.

Owning allows for you shop around for the best deal. I'm my area propane can be a cutthroat business. Tell one company what the other is offering and they most always will lower their price to get the business.

Ferrel gas, in AR right now, Amerigas, Suburbangas as well in the area.

Bought a house a few years back that had a leased tank to power a 20kw generator. I tapped in to it for a gas stove. Used next to no propane for the 2 years we were there. Sold the house. 6 months later the propane company called my wife. Threatened they were going to come take the tank (at the house we had sold). The people that had bought the house were total a99holes in the buying process. Wife told the propane company “fine, come get your tank, we never signed any paperwork on it anyway” (and we hadn’t).

I’m still wondering if they came and took that tank from those a99holes.

Around here you can find used tanks for about a buck a gallon. Probably be more economical to rent one, I just like owning the stuff I use.

Owning gives you options, renting gives you service . Never had the we won't deliver like a few years ago

I have a 1K and 500 gallon tank, only fill up once a year. Usually July or August whenever propane is the cheapest. Local guy likes us as we pay in full promptly, and he gives us the heads up when it is time to buy. Also gives 5 cent discount per gallon if we pay cash or check within 5 business days. His business is seven miles away the next one is about 30, he's beat everyone I've shopped an average of 10 cents a gallon over the last six years.

I like having two tanks, our next house will have two as well.

Own it and bury it so you don’t have to look at it every day. Shopping around for the lowest cost is another great benefit.

Either way avoid Amerigas is you can. They are an absolute nightmare to deal with. They’ve left my shop without gas several times this winter. In spite of the several days of lead time I gave them
Letting them know it was getting low.

At my business I own the propane tank and shop around on a yearly basis for the best year deal . At my cabin I lease 500 gallon tank, as there is only one gas company available. I don’t really see a bigger befit either way. *shrugs*

Our place came with a leased tank, from the cheapest outfit around... Seems win win.

Usually how it works. If the company doesn't own the tank or really trust you they'll want cash because they can't lock off the tank if you don't pay. Retired from the biz after fifteen years and will never rent a tank.

I prefer to own. The independence affords you the opportunity to shop for the best deals. Also, with the world being run by ambulance chasing attorneys.....a rented/lease tank may not have a “thief” valve. I never pay to have propane bottles filled. The refills are cheaper per gallon, and that is one more trip to town.....I didn’t have to make! memtb

Where I am the propane company provides the tanks free. If you want to buy from someone else they take the tanks away and the new company set theirs up. There might be a one time installation fee, don't know, I'm using the company/tanks that came with house when I bought it, but there is no rent.

I owned mine before we got natural gas lines in the neighborhood.

I own two, a 320 and a upright 120.

I'm thinking about buying another 120 for my shop. Using two 100lb cylinders out there now but I have to haul them off to be filled.

Its a lot cheaper here to own and buy in the summer.

We have been renting for 24 years. Never had a problem with a tank.
If you own the tank you can shop around and get much cheaper propane. If we owned the tank we would have saved several thousand dollars over the years, after we had paid for the tank.

Around this county, there is a good portion of the west county that doesn't have electricity. Propane is kind of the lifeline of those people. The propane distributors know this and ride that horse to death. All the distributors have the same reputation as undertakers, used car salesmen, politicians and personal injury lawyers. One old guy showed me his delivery tickets, almost all had totals just under 100 gallons. I asked why and he told me when he signed up with them, they promised a 25% discount on deliveries over 100 gallons. Later, a senior center legal advisor discovered, they were charging him tank rent on a tank he owned. Liars, thieves and crooks, around here.

we own our 500 gallon tank. As others have said, having the choice to shop around for cheaper prices, saves us money. Fill once a year, Aug. or Sept., and good to go. Have never needed any work to any parts of the system.
Best thing of all, my dad bought this tank for us from a farm sale many years ago, for $100. Put a fresh paint on it and it's been GTG.

When I had propane I leased the tank. All the companies around here are around the same price, not worth the hassle of ownership in my opinion.

Lease 100% and I'm usually pro owning anything. The payback here in CO was 21 years (lease vs buying). With a leased tank if anything goes wrong, valve, rust, pipe, it's on them. They switch the tank out at their cost. After installing a whole house backup generator, I switched providers from an expensive local provider to a larger state/national provider (Ferrell gas) and it's not the cheapest propane but typically very competitive here. The main reason I switched was the local provider would not give me a 1000gal. tank - said my usage didn't justify it. Win win for me, I got a 1000gal tank and cheaper gas.

The propane supplier got to charging $100/year rent for the tank.
My FIL put propane on the place20+ years ago.
3 years ago, I bought 2 refurbed, 250 gal tanks for $600 apiece (all new fittings).
Installed one at the ranch, installed the other at my Dad's house at Raton.
We also had a back-up generator installed. The local electric company couldn't keep power on.
Dad was 89 at the time, living alone in an all electric house.
3 more years, and I'm money ahead - plus, I'm not limited to any single gas company, I can buy wherever I want.

always own your own. shop for a used, refurbished tank (as mentioned above). I would NOT go with the in-ground option. maintenance long term can be problematic

Own, shop anywhere for your gas!

Own..had an amerigas tank and called them for a fill, when I got the bill in was just over 2x the going rate of propane. Called them and hitched about it. Said that was the rate for existing customers. Had a buddy call them and ask rates for a new customer tank set. 15 cents a gallon less than everyone else. I don't use enough propane a year to justify the rental. Bought my tank and have a local company fill it. I call around each time beforehand and they've yet to be beat.

That has made a huge difference for us. We bought a place with a 500 gallon tank dated 1956. The old propane supplier was evidently very inflexible and had plenty of customers so even though it had serviced this place in the past, they wanted a full inspection of my entire heating system and prices were not competitive.

I had a HVAC guy install a fresh valve and found a new propane company that provides great prices for bulk purchases and wonderful, prompt service.

Norm