Over 80% of propane consumers decide to lease their propane tank from their propane supplier. Why? Many consumers feel it’s simpler, and cheaper to let the propane company worry about the tank.
When you look at the cost of buying, and installing a tank you can see why they might feel that way. It’s an investment of hundreds, sometimes even thousands of dollars depending on the size of the tank. Plus if you own your tank you’re responsible for maintaining it- not the propane supplier.
So why do people own their own tanks? It really comes down to choice. When you lease your tank from your propane company you can only buy your propane from that company. If you want to change suppliers, you’ll have to wait until you get that tank removed and another one installed before you do.
Consumers who own their own tank enjoy considerably more freedom- they can buy from anyone. That gives them more negotiating power, and potential savings that could go a long way in paying back the cost of buying the tank.
So to own or not to own- that is the question. The answer is…it depends. If you don’t want the hassle of buying, installing and maintaining a tank and you’re happy with your propane supplier then leasing sounds right for you. If you want to be able to negotiate, and not be locked into a single supplier then owning might be the call.
Want advice? Give us a shout. The Propane.pro team will be happy to help you think it through. Email us at [email protected] or call us at 1-855-966-1444.