Propane Tank, rent or buy 500gal

[coobie]

Back to this old thread again... has anyone tried purchasing a tank recently. I still have my rented tank in the ground, but I don't want to continue with the company I have for another year. I finally found one company that has a tank to sell at about $5K installed. The current company would sell me their tank (15 years old) for about $2700.00. Used to be, not too long ago, that I heard of companies selling their rented tanks that old for under $1K. I'm thinking I'd rather buy a new one at extra cost that and old one for that price. Thoughts??

Buy a new/used refurbished Tank.In these parts (USED) 500 gal.is $1,000..Both of mine were used.

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[seville009]

Not meaning to be argumentative, but that seems a very short payback time, even considering recent energy cost increases. A quick search . . . "According to a study by Consumer Reports, the payback period for tankless water heaters can range from 12 years to 27.5 years, with electric models on the lower end of the spectrum and gas models on the upper end.Feb 21, 2022"

understood....

In my case, the guy I bought the house from had a 50 gallon hot water heater. Was in poor condition and very inefficient. Unique situation, of course. I measured the savings based on my year to year propane purchases; was easy to track and measure.

Regardless, they are definitely worth the cost in my opinion.

 

[coaster]

Buy a new/used refurbished Tank.In these parts (USED) 500 gal.is $1,000..Both of mine were used.

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Are you actually able to find tanks for that price at this time - even in Michigan? I've called around locally and I've only been able to find the one place that will sell me a 500 gallon tank.

 

[jyoutz]

Loved it when I had NG in the past. Don't even have the option where I am now. 8K seems like quite a chunk to throw down in one shot, but if you're gonna be there a while I guess that works.

I was also able to replace my wood pellet stove with a gas stove. I used to buy 2 tons of pellets annually plus use my gas furnace with over $120/month worth of propane in winter months. And I replaced 2 inefficient 40 gallon propane water heaters with one tankless heater.

 

[bumperm]

Are you actually able to find tanks for that price at this time - even in Michigan? I've called around locally and I've only been able to find the one place that will sell me a 500 gallon tank.

Just checked Craigslist here, NV near Lake Tahoe, and the only thing on there is a rather dogged out, rusty 480 gallon for $700 over in CA.

 

[coobie]

Are you actually able to find tanks for that price at this time - even in Michigan? I've called around locally and I've only been able to find the one place that will sell me a 500 gallon tank.

Not sure on price at this time but my farmer neighbor purchased two refurbished 500 gal, tank last year for $1,000 per tank from these folks C&R recyclers in Pioneer OH.PH# 419-459-8888.

 

[ponytug]

I suspect if you haven't bought a tank in the last month or two, prices are out of date.

As an example, I was buying steel last week at my local metal sales/recycling center, and the owner commented that steel prices are by far the highest he has seen in forty years of being in the business. Something like 8sq.ft. of 1/4" plate set me back close to $200. At those prices, I suspect a used 500 gallon tank is pushing $1,000 as scrap. Local prices my be less where you are due to freight costs, but the prices are nothing like they were three years ago. Wholesale steel prices are up 66% in the last five years.

All the best,

Peter

 

[5030]

Problem is, the funds you were paid in aren't worth the paper they are printed on.

Inflation is a very insidious tax.

 

[5030]

Like I said before your best bet on a used bottle (it's not a tank) is buying a used AN nurse bottle at a farm auction. You will have to have the pickup changed over to top draw vapor but that's it. Same valving, same gauge, same fill hose connection.

Both of my 500's (425 gallon capacity with OPD's) were repurposed nurse bottles and I got two flat rack chassis as well.

 

[5030]

Just checked Craigslist here, NV near Lake Tahoe, and the only thing on there is a rather dogged out, rusty 480 gallon for $700 over in CA.

External rust means nothing so long as the rust pits aren't over 1/16" deep. The interior because it's sealed will have no corrosion inside. The two I bought were a little 'doggy' as well, but a bit of rotary wire brushing and some elbow grease and a nice coat of Rustoleum primer and top coat of Rustoleum enamel applied with a small paint roller and they were good to go. Nice thing about owning them is, you can top coat them anyway you want. Guy down the road got artistic and painted his single 500 like a banana...

The only really critical parts of any bottle are the end bells. The rest of them is inconsequential.

Never seen a 480. Has to be a 500. They only come in 250, 500, 1000 and 1500 unless they are commercial storage bottles, then they can go upwards of 20,000 gallons and larger.

 

[gasman1075]

Horizontals are tanks ( ASME ) verticals can be ASME or DOT. Different relief valve settings on DOT vs ASME. Tanks for auto gas can have dual certification DOT / ASME. Corrosion can happen internally if air is introduced into a tank under a vacuum. I can bore most people talking about LP Gas or liquid.

 

[bumperm]

Never seen a 480. Has to be a 500. They only come in 250, 500, 1000 and 1500 unless they are commercial storage bottles, then they can go upwards of 20,000 gallons and larger.

Just going by what the ad said. At a minimum you missed one size, I had a 350 gallon at my previous house. Belonged to the propane company, I bought it from them in place (which price wise, was a mistake).

 

[coaster]

Just going by what the ad said. At a minimum you missed one size, I had a 350 gallon at my previous house. Belonged to the propane company, I bought it from them in place (which price wise, was a mistake).

Curious about the "which price wise, was a mistake" comment. Why so? They ask too much, your calculations showed it would have been better to continue leasing or what?

 

[bumperm]

Curious about the "which price wise, was a mistake" comment. Why so? They ask too much, your calculations showed it would have been better to continue leasing or what?

At the time, prolly 7 years ago, I was PO'd with the company that owned the tank. So asked them for a price to buy it so I could shop for propane pricing. I foolishly didn't shop around for tank pricing either! That, and at the time didn't realize it was a 350, rather than a 500 gallon. So basically I got had.

I now have a larger house with separate RV garage/shop. There's a 1000 gallon in-ground tank. It's a struggle to make it through the year on one filling - prior to this inflationary run up, propane prices were lowest toward the end of summer, so filling just once then has been the goal.

 

[coaster]

At the time, prolly 7 years ago, I was PO'd with the company that owned the tank. So asked them for a price to buy it so I could shop for propane pricing. I foolishly didn't shop around for tank pricing either! That, and at the time didn't realize it was a 350, rather than a 500 gallon. So basically I got had.

I now have a larger house with separate RV garage/shop. There's a 1000 gallon in-ground tank. It's a struggle to make it through the year on one filling - prior to this inflationary run up, propane prices were lowest toward the end of summer, so filling just once then has been the goal.

Gotcha. I typically make it through the year with one fill-up on my (well, their) 500 gallon tank. That's since I installed a zero-clearance unit for burning firewood. This past winter, my son and his family moved in with us from October to February. Needless to say, the hot water usage took off and we didn't make it through til summer . I'm just tired of the games the company plays and would like to shop around a bit.

 

[gasman1075]

Propane is very high currently here in NY and New England

exports are strong.

 

[buckeyefarmer]

It would be lower in NY if they supported drilling, just saying. Landowners have a fortune under them that the state won’t let them market.

 

[jyoutz]

It would be lower in NY if they supported drilling, just saying. Landowners have a fortune under them that the state won’t let them market.

Propane is expensive everywhere. My state is the second largest producer of oil and natural gas, yet propane is expensive here. NG is cheap however.

 

[gasman1075]

It would be lower in NY if they supported drilling, just saying. Landowners have a fortune under them that the state won’t let them market.

If NY supported drilling those landowners where the rigs were located would make $$ but the product would likely not stay domestic it would be exported. The arb with Asia and Europe is 20-24 cents per gallon currently.

 

[ap0915]

Got rid of my propane tank this year. Heating only with my mini splits and wood stove from here out.

The propane company had updated their policy so that I’d have to purchase twice the capacity of my tank each year to have the tank rental fee waived. I only used less than a tank full each year. Decided it wasn’t worth the trouble anymore since my mini splits are so efficient.