Buy my own propane tank or lease a propane tank?

Discussion in 'Homesteading Questions' started by VERN in IL, Dec 1, 2011.

  1. VERN in IL

    VERN in IL Lacto-Ovo Vegetarian

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    I'm talking 500 gal + capacity tanks.

    All folks except my Grandpa lease their tanks. The only bad experience they have had is the unexpected fill-ups.... and the bill.



    My Grand parents own a 500 gallon tank, they only use it for the cook stove, they heat with wood.

    So what are the pros and cons of owning/leasing a propane tank?
     
  2. Old_Town

    Old_Town Well-Known Member

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    I lease my 250 gallon. I owned a tank before that developed a leak and I lost about 150 gallons of propane.

    My rental tank leaked down one summer and the propane company fixed the leak and refilled my tank for free. I pay $6 per month to rent.
     

  3. Ruby

    Ruby Well-Known Member Supporter

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    We leased our tank for about 6 years then they quit billing us for it. I think it may have been lease to own. I developed a leak last year and they came out and fixed it, didn't bill us for the leak even gave us credit for the 20 gals. it leaked out.

    We only paid 56$ a year and the only thing they required was when we ordered gas to order at least 100 gal. at a time. We only use it to heat with in the winter. Another company required us to use a certain amout a month, plus we had to buy our gas from them.

    Be sure and shop around, different companies have different rules and prices.
     
  4. oldmanriver

    oldmanriver Well-Known Member

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    bought my own that way you don't have to use the same dealer you can shop around
     
  5. oldasrocks

    oldasrocks Well-Known Member

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    We have 2- 500 gallon tanks and shop around for fuel. We owned one and they jacked me around on price during the icestorm we had in 08 so I found another used one to buy so we can keep one full all the time. Its already paid for itself as we saved over a $1.a gallon to fill this yr. We used 450 gallons in 1 1/2 yrs to heat and cook plus run the genny on occasion.
     
  6. tyusclan

    tyusclan Well-Known Member

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    The other posts pretty much sum it up.

    With a lease you don't have a big up front cost, and the propane company is responsible for keeping up the tank. The down side is you have to buy propane from them.

    If you buy your own tank, you have the cost of the tank up front, and you have to keep an eye on it to catch a leak that may develop, but you can then shop price and buy from the cheapest dealer.
     
  7. Sonshine

    Sonshine Well-Known Member Supporter

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    We bought ours. I figure I'd rather own my own than use someone elses and like others have said, this way you can shop around and find the best prices. Ours is only used for cooking.
     
  8. English Oliver

    English Oliver Well-Known Member

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    We own our own tanks, the ability to shop for gas more than pays for the tank cost in around 4 years. We also have an attachment to fill propane bottles on ours, we can fill a 20 lb cylinder for around $6 verses $18 to have it filled and we get full cylinders this way, not 85%.

    "O"
     
  9. Callieslamb

    Callieslamb Well-Known Member

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    we have one we rent and one we own. We can shop around for deals, but have found we get about the same price if we lease - since they know they can count on our business. We used the same company to fill both tanks and got a really good deal that way. We bought the one tank off craigslist and DH sanded it down and repainted it.
     
  10. littlebitfarm

    littlebitfarm Scotties rule! Supporter

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    Can you give me a link to that attachment?

    Owning my own tank saved $.22 a gallon when I refilled this year.

    Kathie
     
  11. TnAndy

    TnAndy Well-Known Member Supporter

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    I have 3-500's I own. Leased a 250 for years, but it wasn't big enough to carry us thru the whole year ( stove, wall heater, water heater ) some times, which is exactly what the propane company wants.....they want two "through puts" a year, so they can sell you at an average of summer low and winter high prices.

    I finally bought a 500 gal underground, and then I added 2-500gal above ground tanks 2 years ago ( used....800 for one, the other was free w/50% gas in it just for hauling it off )

    We use the underground tank, and the other two I have plumbed into the line to use, but I keep them full and shut off, as a backup supply.

    Between not paying the lease ( which they increased to $100/yr on the 250 ), and being able to shop different companies, ( I've had it vary as much as a $1/gallon when you shop...and they KNOW you are shopping ) during the RIGHT time of the year ( mid summer ), owning is the way to go, IMHO.
     
  12. zant

    zant Well-Known Member

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    In process of using up last 75g of fleased tank--srarted 6yrs ago at $45,now$75..will put in my own 500g tank ...Lets look at the concept---YOU rent a tank from THEM so YOU can buy propane from THEM to put in THEIR tank...no thanks anymore...
     
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  13. Alice In TX/MO

    Alice In TX/MO More dharma, less drama. Supporter

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    Lease eliminates worries.
     
  14. jcatblum

    jcatblum Well-Known Member

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    We lease ours. This yr I called to get it filled & took a month for them to make their way out. Evidently the driver never could find our place, but never called for directions either. Doubt we will continue the lease after the propane runs low.
     
  15. GoldenCityMuse

    GoldenCityMuse "Slick" Supporter

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    I go for owning. Only if you plan to stay somewhere for over 5 years.
     
  16. Kevingr

    Kevingr East Central MN

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    I own my own tank and the company I buy most of my propane from also paints the tank every 2 years and last year they replace all the valves and regulators on the tank and house. They were all over 20 years old.
     
  17. OH Boy

    OH Boy Well-Known Member

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    I bought my own tank and the savings on the propane paid for the tank in about 3 or 4 years. i believe I get the propane at least 30 or 40 cents a gallon cheaper when I can shop around as opposed to what I would pay when I leased a tank.
     
  18. Horseyrider

    Horseyrider Well-Known Member

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    I lease a 1000gal tank and other than a token fee the first year, I pay nothing for the lease. I get a great price through a farm co-op; haven't seen anything else in our area beat it.
     
  19. Welshmom

    Welshmom Well-Known Member

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    Owning is definitely smarter.
    That is the only way you can paint a big green & gold "G" on it! :clap:
     
  20. English Oliver

    English Oliver Well-Known Member

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    I don't have a link, when I ordered my tank I told them I wanted a wet line to fill bottles. The tank has to be empty when this is installed.

    "O"