Leasing Vs. Buying Your Propane Tank: 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 the pros and cons of owning and leasing your propane tank.

Owning A Propane Storage Tank

Pros
When you own your own propane tank:

• You control who supplies your propane
• You can choose a tank from any manufacturer
• Your supplier can’t seize your propane tank during 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

Leasing A Propane Storage Tank

Pros
When you lease a propane tank,

• Your supplier will typically install and maintain the tank, covering all routine upkeep 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, although there are some advantages to buying your own tank, leasing offers distinct advantages in terms of maintenance costs and safe, hassle-free operation. For this reason, most propane customers choose to lease their tank.

Still not sure whether to buy or lease your propane tank? Give Pemi River Propane a call and we’ll be happy to find you the perfect solution.