Is It Better To Lease Or Buy A Propane Tank?

If you’ve recently purchased a propane-powered home or are planning to install new propane equipment at an existing site in Vermont, one of the more important questions you’ll have to answer is whether to buy or lease your propane tank.

The answer to that question depends on several factors—let’s take a look at some of the more important ones.

Buying Vs. Leasing A Propane Tank

Although there are some advantages to buying your own tank, leasing offers strong advantages in terms of maintenance costs and safe, hassle-free operation—a big reason why most people choose to lease their propane tank.

Here are some specifics:

If you purchase 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.

But…

• 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

If 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.

But…

• When you lease your tank, you are bound to your supplier
• Changing suppliers often involves a termination fee

As you can see, buying your own propane tank does give you certain freedoms, but it comes at the cost of having to keep your propane tank safe and up to code—something you’ll have to pay a propane professional to do anyway. For most people, leasing is the better option.

Still not sure whether to buy or lease your propane tank? Contact Jack F. Corse! We’ll help you make the right call on propane tank installation in Lamoille, Franklin, and Northern Chittenden Counties right here in Vermont.