Propane is the most used fuel concerning having enough energy for heating, cooking, and running outdoor appliances. As the demand becomes higher, more homeowners are now considering purchasing a propane tank. On the other hand, leasing a propane tank may offer multiple advantages that make owning less worthwhile. In this article, we will explain why you may want to think twice before buying a propane tank and why the lease may be the smarter option for you.
Propane is an environmentally friendly fossil fuel predominantly used for immediate consumption. It’s widely used for heating appliances and powering most household devices. It is stored in a liquid state in a propane tank and vaporizes at the point of need. Because propane is a byproduct of natural gas processing and crude oil refining, it is inexpensive and highly accessible, particularly in the United States, where about 90% of the propane consumed is produced. This scenario quite works well to stabilize the price and makes propane an attractive alternative for so many families.
Propane is efficient and versatile in many ways. Here are some of the primary advantages of using propane:
Propane-using households can save much on energy bills, especially when propane is put side by side with electricity and heating oil. Savings can reach up to 50% once energy-efficient systems are included.
Propane tends to burn cleaner than many fossil fuels, thus emitting fewer greenhouse gases. With growing environmental concerns, using propane can help a homeowner reduce his carbon footprint.
Where propane takes the lead is in the storage and use of energy even in the event of a power interruption. Being very dependable, especially when you reside in an area with frequent interrupted power, this is a plus point in favor of propane.
Do you want to purchase or lease a propane tank? To make the right decision, consider your specific situation. Use the following questions as a guide:
All of these replies will tell your story as you make your decision.
Why own the burden when you can lease the freedom? Discover your propane leasing options now!
One of the major disadvantages of buying a propane tank is its price. The prices can range really high based on the size of the propane tank and requirements for installation. A standard 500 gallon propane tank for sale can range between $400 and upwards of $2,000. All this comes in one big expensive start, which may be devastating to the newly-wedding couples or to those barely managing to earn a living.
A propane tank owner holds various responsibilities: maintenance and timely repairs in order to ensure full safety efficiency of the tank; if a propane tank starts leaking or otherwise, the owner has to organize its repair services. These may be quite pricey, and the prices vary according to the nature of the problem involved. For those who don’t want to be burdened by the financial fallouts, it would not be advisable for them to look for propane tanks for sale. Instead, a propane tank rental is the way out. Under this rental agreement, the rental house assumes all responsibilities regarding maintenance and repair of the tank, freeing the owner to attend to other concerns without being borrowed by any further financial surprise.
While other home improvements will increase resale value, a propane tank does not. At the time you sell your home, your potential buyers may not put a value on the money you have invested in a propane tank. It is for this reason that leasing is more flexible, especially for the future homeowner who may potentially move some time.
Leasing a propane tank has the benefit of being a short-term affair. You do not necessarily have to use the given tank for long. You can evaluate your energy needs and then adjust to them without getting shackled by a long-term obligation.
Perhaps the most positive aspect is that propane tank leasing costs are much cheaper to operate than purchasing one. Many propane companies offer propane tanks for sale, but the prices can be prohibitively high. For that reason, home owners will more than likely rent it rather than pay the price and own it. The cost of a propane tank lease is generally between $50 and $250 annually, depending on the size of the tank and supplier. It is, therefore, much more accessible, and such homeowners thus like the deal, especially in avoiding investment upfront in buying a tank.
When you lease a propane tank, maintenance and safety inspections typically are part of your rental arrangement. The supplier inspecting and maintaining your tank regularly safeguards the functionality of your tank while ensuring the safe operation of your equipment. This may greatly assuage your fears since qualified technicians will be managing your tank.
Compared to all these, leasing a propane tank gives unmatched flexibility. If you decide or no longer need propane, you can cancel your lease usually without any long-term consequences. It is particularly beneficial to renters or people in temporary housing arrangements. In addition, most propane providers allow automatic refills in which they monitor your propane tank and fill it when there is low propane to ensure there isn’t an instance of running out.
Tank leasing also provides additional insurance and safety features. Most propane companies include insurance in the rental agreement against liability. More importantly, leased tanks are inspected and maintained according to industry standards, which means they meet certain safety regulations.
Before leasing, know the terms and conditions in their agreement. Rental contracts vary between companies, so do not forget to look into the fine print. Know the following:
Knowledge of all this will help you avoid locked-in fees and potential agro in the future.
Most propane companies do a credit check through the rental agreement process. Although this may not be desirable, it can assure you that you can pay up your rental commitments. If you are also worried about your credit standing, maybe you should discuss your problems with the propane supplier before entering a rental agreement.
In sum, it might look simple, but by buying a propane tank, the advantage of a lease is usually more outstanding than the drawbacks of owning. Ownership entails a host of issues, including high initial costs, maintenance responsibilities, lack of resale value, and a long-term commitment that may prove to be too burdensome for most homeowners. The initial costs of leasing a propane tank are cheaper, it offers all-round maintenance and flexibility. The safety of using propane for heating and cooking would also be added by maintaining your home in a safe way. You may either need a propane tank for sale or leasing to install at your home, whichever you consider purchasing first. It is therefore important to evaluate what suits your unique setup. Leasing a propane tank can help you utilize propane as an energy source with all the convenience and effectiveness, reducing stress and expense to the minimum. If done wisely, leasing a propane tank is always a good option, especially when working with a trusted company like LP Propane.
