When it comes to fueling appliances with propane, homeowners can choose between owning or leasing their property’s storage tank. As with most major financial decisions, there are pros and cons of each. Here, the friendly technicians at Connecticut’s Servco Oil & Propane explain some of the major differences between the two so you can decide the best option for meeting your family’s needs. 

Buying a Propane Tank

Buying a storage tank costs a lot initially, but it can pay for itself over time in savings. For example, if you own your tank, you can shop around for the best deal on fuel. Those who lease, on the other hand, have to purchase propane from the company that owns the equipment and are therefore unable to shop around for the best deal each season. You also mitigate associated rental costs like minimum annual consumption fees by buying instead of leasing.

Leasing a Propane Tank

If you’re more comfortable spending a small amount of money each month instead of a sizable sum once—and then every time the vessel needs repairs—leasing may be the route for you. Homeowners who lease have to cover rental fees, but they are not responsible for installing, maintaining, or repairing the tank, which can save them considerably, especially in the event of a catastrophe. Additionally, most contractors provide free monitoring services to their renters, which means they will check supply levels periodically to ensure their customers never run out of fuel. 

Whether you’ve decided to buy or lease a storage tank, you can rely on Servco Oil & Propane for exceptional service. Located in Wilton, CT, this propane and heating oil supplier offers everything from installation and maintenance to repairs and automatic delivery. A full-service HVAC contractor, they are proud to serve homeowners throughout Fairfield County. Visit their website to learn more about buying or leasing a propane tank, and then call (203) 762-7994 to discuss your heating service needs for the winter.