Propane Tank, rent or buy 500gal

[gmason]

We just had a bad expierience with our propane company and we ready to wash our hands of those crooks. I filed a complaint with the BBB and sent a letter to the State Atty General's office.
Now we want to get another supplier and a new tank, or a new supplier and buy our old (inground) tank from the crooks.
We've had the tank for a little over 10yrs in the ground, what does anyone think that would cost us to buy it? Or even Should we?

thanks
gary

 

[Jimbrown]

Huh Are you sure you do not own it already? Most rental tank agreements give ownership after a set number of years. If not How the heck are they going to get the thing out of the ground? A 500 gal tank around here is about $1000 new. I would expect a ten year old one to be a lot less even if you have to buy it.

 

[schmism]

ive researched it extensivly in my area.

they will not rent you an inground one in my area... you have to buy (perhaps "rent to own" but its still yours)

the above ground ones varry... one local place is hesitant to sell you one, a place 15 miles away has them for sale no problem...

neither sounded like they charged anything to haveit sit there (although you have to get gas from them) but the price was the same as everyeone esle....

what *I* want is to OWN a 500 gal above ground WITH wet tap. Im tired of paying twice the cost of the gas to have my small tanks filled.

 

[SPIKER]

My 500 gal above ground tank, is a rental, $25/yr if you use less than 500 gallons in one season. I only use 1/2 that right now but once I start heating a bigger place it will go faster. They started out cheaper but my 2nd fill was high. it is better to be able to SHOP for a fill up over HAVE TO BUY from ABC UP-CHARGE PROPANE COMPANY that owns you're tank as NO ONE else will fill a tank that belongs to a different company. There was a tank there when I bought the place (actually 2 tanks) but they were rentals. Not sure how much one costs but the cost of renting may only be 25/year but the high fee's for the low use propane can cost ya...

mark m

 

[drssg]

We purchased ours, and I've been happy with that decision. The main factor was not being locked into one supplier. We can shop around and see how much everyone is charging.

It also gives us more flexibility on when we buy propane, instead of always buying it every month, regardless of price. We went with a 1000gal tank to give us more flexibility on purchasing.

 

[stumpfield]

I would buy so I can have the flexibility of getting propane from anyone I like.
Where's a good source buy your can buy your own tank other than propane suppliers? I called all the propane companies around my area. None of them want to sell me a tank. They all give free tank rental for the 1st year and $50-100 per year rental fee after that. It's pretty obvious that they want to lock you in. Some even offer a reduced price for the 1st fill if I'm a new customer. Sounds very much like signing up for Satellite TV or cellphone service....

 

[charlz]

I have a 500 gal above ground tank that costs me $60/year to rent, was $50 the last few years. They are also kind enough to charge me an extra .10/gal as 'maint fee' in case something 'goes wrong' with the tank. When you are buying 300-400 gal per month in the winter that adds up fast... so I put in a pellet stove out here pellet heat costs about 45% of propane.

If it was me I would research something other than propane and/or go with a really large underground tank so you can buy while prices are cheap in the summer. One of my neighbors has a huge above ground tank... looks like a submarine ended up in his yard

Charles

 

[radman1]

It is common in my area to buy used 500 gal. above the ground tanks for around $500 or slightly less. 1000 gal is about double the price. I haven't seen or heard of an underground tank around here. I once asked a propane guy if an above the ground tank ever got too old. He said unless they are in direct contact with the ground and rust, they practically never go bad. I have a 500 gallon tank I bought used 5 years ago. Just paint them once in a while. If you rent one, they are usually used tanks anyway.
I use the local CO-OP. They monitor the tank and fill as needed. I never need to call them.

 

[kennyd]

I own a buried 1000 gallon tank for already stated reasons, I can shop for the best prices, and fill it in the summer when prices are cheaper.

 

[dsb5610]

We rent our 500 gal tank for $50/yr. I debated the buy versus rent. Renting had a couple of benefits, I am not responsible for the maintenance of the tank and I get the summer rate throughout the year with no pre-pay. The maintenance benefit is not a big deal as there has been no maintenance required since the tank was installed in 1995. The rate I get on fuel has more than paid for the tank rent many times over. I hear stories of what others are paying for propane right in our area. Even the price my supplier charges for non-regular customers would more than cover my tank rent in one fill.

My advice is check around and find a supplier that purchases their annual amount when the prices are lowest and then guarantees that price to you throughout the year.

dsb