Propane Tanks: Rent Vs. Buy

While some use natural gas to heat their home, others rely on propane to fuel their furnace, stove, hot water heater and dryer. Without propane, they wouldn't be able to run all of the key appliances they need to survive. If you recently moved into a home that uses propane, you are probably wondering what the best options are for you. It is a little different than natural gas where you don't have to buy any equipment to get the gas. Propane requires you to either buy or rent the tank before the fuel can be delivered. To help you figure out which option is the best one for you, consider the following.

Repairs

One of the main things you have to think about when renting versus buying is the cost of repairs. What if the valve were to go bad on the tank or it simply started rusting out from being too old? If you are renting the tank, that is all going to be taken care of for you by your propane provider. They would come out and perform the repairs or replace your tank if needed to make sure you are taken care of. When you buy the tank, that is going to be your responsibility. Regardless of what might be going on with your tank, the propane company isn't obligated to repair it, that is unless they are the ones who damaged the valve when loading fuel into the tank.

Monthly Bill

Some propane companies require you to have a certain amount of propane delivered each month when you are renting from them. When you already own the tank, you just call in when you are low and they bring the propane out to you. Not all companies have minimum requirements, but it is important that you ask about this to know what you are getting yourself into beforehand. You don't want to get a rental only to find out later that you are obligated to have 200 gallons of propane delivered every month or risk being charged a service fee. Knowing the specifics of your rental is important.

By going through the options and asking questions of the propane provider, you can determine which option is going to work in your best interest. You have to think about the long-term and the here and now to come up with a solution that meets your budgetary needs.