The Pros and Cons of Owning a Propane Gas Tank

What You’ll Learn

Is owning a propane gas tank better than leasing one?

Owning a propane gas tank gives you the flexibility to shop for competitive fuel rates, choose your tank size, and even install it underground if desired.

However, you’ll also be responsible for the upfront purchase cost, maintenance, and potential relocation expenses. Understanding these pros and cons helps you decide whether ownership or leasing best fits your long-term needs.

In this blog:

Sometimes there are moments of purchasing an item for your home where you’re forced with a heavy debate of should I buy or rent this item?

There are many factors that weigh out those questions, regardless of the item that you are purchasing. Honestly, it mostly comes down to your specific situation.

One such item that regularly comes with this question attached is a propane gas tank. You either have the option to lease it from a supplier or purchase a tank for you to own.

Here are the pros and cons of owning a propane gas tank that you should consider before deciding which way is right for you.

Pro: Access to Competitive Rates

If you’re leasing a propane tank from a local supplier, you don’t have the option of browsing around for lower rates. Since you’re leasing their tank, you have to refill at their facilities.

However, if you were to own a tank, you’d have the liberty of looking around town for the lowest rates and considering all your options.

You may also be prone to finding better deals at your local store. Your local supplier may be interested in negotiating the price with you after you’ve found a lower rate than what they offer.

No matter how many times you end up refilling this winter, having the ability to shop around can help you save a boatload of money.

Con: The Upfront Cost of Buying a Tank

One of the biggest setbacks for anyone interested in owning their own propane tank is going to be the cost.

Depending on the size of the tank, your upfront price may range anywhere from $399 to over $2,000. That can be a hard pill to swallow for most people, and for good reason.

However, in the longterm, you’ll be saving a lot of money as the rates on your refills stay lower than those that lease from one supplier.

It’s definitely an investment for the long haul and one that many people may not be too excited to make. Finding a friendly budget plan will help ease the pain of that upfront cost.

Pro: Option of Burying a Tank

If you own the propane tank in your home, then you’ll have the option of burying that tank in a convenient place on your property.

The propane isn’t harmful to your soil or water supply, so it isn’t hazardous whatsoever. Now you don’t need to have a tank taking up significant space in your yard.

Simply find the size and gallon amount of the propane tank you’ll need. From there, choose a tank that has the ability to be either above ground or underground.

Con: Hassle with Moving

If at any point you decide you want or need to move from your current residence, then you’ll need to decide what to do with your tank.

Odds are that the next purchaser of your home won’t see the benefits of owning a tank the way you do, so you’ll need to get it off the property.

The good news is that you’ll have two options from there: sell it or move it to your next home.

Both present an excellent option and are dependent on your situation. How far are you moving away? What are the moving costs associated with hauling it to your new place? All valuable questions to ask yourself and figure out which way is better.

Pro: You Choose the Tank Size

One of the most valuable aspects of owning your own tank will be the options for sizing. You get to choose the tank size that best fits you and your family’s needs.

Depending on the size that you go with, you may not need to refill the tank until summer. That will help keep costs low on refilling since the rates typically fall during the summer months.

It’s all about making sure that you and your family can live comfortably throughout the winter months.

Be sure to factor in what all your family needs for propane. How often do you need propane for your heating, water heating, dryer, fireplace, cooking, etc?

All of this should be put into consideration while you decide which size to purchase.

Con: You’re Liable for It

As the owner of your new propane gas tank, you’ll be the one responsible for any fixes or setbacks that occur.

Over its lifetime, your propane gas tank will more than likely need a repair or two. 

Since you’re the owner, you’ll be the one tasked with seeking out the necessary repairs. If not corrected, this can cause harm to others around you, so you need to take it seriously.

Granted, you don’t have to monitor it every single day for leaks in order to be exhaustive. Just be sure to schedule regular check-ups and the occasional eye test every now and then.

Keeping it in mind is half the battle. Many propane owners purchase it, then never pay attention to it again. 

Choose the Gas Tank Purchase That Fits Your Needs

Whether you should purchase a gas tank to own or lease one from a supplier service is completely up to you.

The most important piece to your propane needs is making sure you’re in touch with a quality propane delivery and maintenance service.

Be sure to read this article on what to look for in a propane supplier for more helpful information.

For more inquiries, please reach out via our contact us page, and we’ll be happy to assist you further.

FAQs