Propane Tank Leases vs. Owning: What’s Right for You?

June 3, 2025 | Propane Delivery, Propane Tanks

Being a homeowner in Hickory, NC means having to make decisions about your home, and it’s common for the team at Bumgarner Propane to hear the question, “Can I switch propane companies?” The simple answer is yes! However, you should take your time to learn about propane tank leases versus owning your propane tank outright to figure out which option is the best for you when you finally make the switch:

crane moving Bumgarner propane tank

Owning Your Propane Tank in NC:

Pros

  • Choose Your Own Supplier and Tank: As the owner, you will have complete control over who supplies your propane and choose your tank manufacturer.
  • No Rental Fees: After paying the initial costs to purchase and install your tank, there are no reoccurring fees.
  • Potential Long-Term Savings: If you’re a homeowner who uses a lot of propane, you might find that buying your tank is the more economical option.
  • Control Over Your Tank: You get to decide the maintenance schedule, inspections, and potential upgrades to your tank.

Cons

  • Upfront Cost: Homeowners often ask, “How much does it cost to install a residential propane tank?” The answer depends on the tank size, location, and installation complexity, but it’s a key factor when considering ownership. Typically, the initial cost is more expensive than a rental.
  • Full Responsibility: When you own your propane tank, you are responsible for the installation, maintenance, and liability of the tank.
  • Supplier Tank Charges: Depending on your supplier, they might charge a fee for using your own tank or offer preferred rates to those who use their tank.

Related Post: Getting Your Home Ready for Propane Tank Installation

Leasing Your Propane Tank in NC:

Pros

  • Lower Upfront Cost: Though the upfront cost of a propane tank lease varies, you will likely incur fewer upfront costs compared to owning it.
  • Maintenance Is Covered: The leasing company is responsible for installing and maintaining your tank.
  • Less Liability: In addition to maintaining your tank, your leasing company is also responsible for ensuring your tank meets all local certifications and state laws.
  • Convenience: With a lease, everything is streamlined through a single provider.

Cons

  • One Supplier Option: You must buy your propane through the leasing company, which will limit your options to shop around for the best price.
  • Rental Fees: There are often monthly or annual fees associated with rentals, which might not be ideal for someone who uses little propane.
  • Potential Removal and Termination Fees: If you decide to switch suppliers, you could potentially be charged to remove the tank.

Related Post: What to Know When Considering a Propane Tank Swap in NC

Utilize Bumgarner’s Free* Tank Swap Program

Deciding whether to lease or buy your next propane tank is solely up to you, but there are companies out there like Bumgarner who make it easier. When you switch to our services, you can worry less about propane tank swap costs and delivery, because we’ll swap out your tank for free*. Worry less about the propane tank swap price of your previous unit and focus more on what option best fits your needs. Contact our team today to learn more.

*Above ground tank swaps only. Exclusions may apply.