We're going with buying a reconditioned tank. If you rent one, you cant paint it, whereas if you own it, you cant generally. Your's will be buried, so it doesn't matter on the paint, but you might want to check to see if you can purchase a refubished tank to save $. They are reconditioned and have to pass inspections out here before they are sold. They are like new! My wife wants to do something funky like this:

Here is a link that might be useful: artistic tanks

good idea!

You might also ask about summer rates. Out here, most will give you a better price during the summer months, but you have to ask about it. Course in your case, it would help if the rep knew the prices! :-) Best of luck!

We don't have that option here; people don't bury tanks (local regulation), and no one owns one. But I don't think I'd EVER lease one or rent one, because from what I see, it's not a 'monthly' or 'yearly' rate, but a per gallon rate, and most appear to be tied to the price of propane, which fluctuates WILDLY.

The second issue is this; with so many suppliers around here, you can change who brings the propane. But if the tank is rented, and underground and you find a deal somewhere else; what do you do? Dig up the tank?

Look at the numbers; I can't believe leasing makes sense.

I'm in Michigan in an SIP house, so I use 1000 gallons of propane a year for heating, cooking, water heater, clothes drying,etc.. At $1.59 a gallon (this last year), that's abotu $1600. Your cost is .32 more PER gallon to rent....so instead of $1600, it'd be....er....not good at math....1930? $300 more per year.

So, at $300 per year, how much would it cost to BUY a tank, and have the freedom to have it filled from whoever?

New tank is $3,400 (quoted from 2 companies but still searching). I haven't asked about refurbs yet. We want to buy the tank...just don't know the going rate for one of these and if the quotes are fair or not.

Propane prices are very regional and very seasonal. They also fluctuate according to the whims of the energy markets.

I won't have propane in my house, but if I did, I would absolutely own my own tank. I would also make sure the purchase contract did not in any way obligate me to any propane purchases from any particular supplier.

Prior to purchasing a tank, discover and verify what sort of periodic testing is required, and the approximate cost. Rental tanks here are inspected by the owners/gas company. The service is amortised in your bill no boubt.
Most gas delivery services want to see valid certs before filling the tank. They may insist on their own testing prior, including delivery line and service users.

Our tank is rented and buried. We only use propane for our fireplaces and grills so we do not use that much.
We compared costs and over the long term renting was less expensive.
The company we chose has been in business for decades and has a good reputation.
We have had the tank for 5 years and have not had any issues.

I don't know where you are, but you might want to rethink heating with LP if you have a lot of heating days. LP is much more expensive to heat with than oil because a gallon of LP generates far fewer btus than a gallon of oil. Just something to consider.

We have oil heat and a buried 300 gallon LP tank that is used for grill, fireplace and range.

Too late- we're committed!

Hopefully, the house is sufficiently energy efficient that it won't be a big deal.

Third gas company was a no show and the fourth was hilarious. He quoted $4,500 for the tank and when I told him he was at least $1,000 higher than his competitors he suddenly discovered a "typo" on his price list and reduced it to $3,100. I asked what brand of tank it was and I was told that it's "proprietary" to which I responded- Well if we're buying a tank, THEN do we get to find out? He very seriously told me at that point I'd be able to read the manufacturer off the side of the tank. These people crack me up. One more quote on Monday and I am putting this issue to bed. Someone today actually quoted $1.61/ gal which sounds pretty darn good to me!

Thanks for all the feedback- keep it coming, please!

"We need a 1,000 gallon tank (gulp), which we are going to bury."

I'm assuming you are aware of all pitfalls here, codes involved, etc.
Buried tanks can be a massive nightmare-contractor negligence falls on the property owner.

Buried oil tanks may be a nightmare because of potential seepage, but buried propane tanks don't cause the same environmental problems. It's a non-issue.

"It's a non-issue."

Absolutely. Assuming one is aware of conditions and requirements that make it so. Leaking propane tanks are not a non-issue. Steel+earth= corrosion.

Don't get me wrong- I appreciate the feedback- but I am not the first person to ever bury a propane tank. It has to be maintained and checked, period. The community we live it has some of the most stringent home building & energy guidelines out there...Already spoke with our insurance company about owner responsibility, etc.

I think my original question pertained to cost of the tank- any insight?

Wow! Things are certainly different around here. We did the math and decided to rent rather than own our 250gal buried tank. The annual rent is $150. Our supplier/dealer is responsible for inspections and maintenance. We just pay the regular price for LPG.

Sorry mdev I can't help with the purchase price of the tank, I don't remember the price originally quoted for ours, and in any case your tank will be 4 times larger!!!

Do you know how much you are going to use? We do not have propane but the neighbors do. They heat with wood and were not using "much" propane - the propane company charged them a low usage fee. They bought the tank then for just a little more than the fee.