With the winter months approaching, it is high time to start thinking about getting a propane tank for your heating needs. You can decide to buy or rent the propane tank. 

Though both options are viable, there are several factors you need to consider before settling for either option. Hence, if you intend to get a propane tank, here are three considerations to help you decide whether to rent or buy the tank. 

Costs

Buying a propane tank requires you to make a hefty down payment upfront, followed by monthly installments. On the upside, owning a propane tank helps you avoid monthly rental fees in the long run. The downside of buying is that you are responsible for maintaining and repairing it. However, propane tanks don't require much maintenance. Hence maintaining the tank will not be a major expense in the long run. 

Renting a propane tank has fewer upfront costs. But on the downside, you have to pay a monthly rental fee for using the tank. Nonetheless, because you don't own the propane tank, you are not responsible for maintaining or repairing it. Hence, renting a propane tank eliminates the maintenance costs involved with owning the tank. 

Despite the initial upfront costs, buying a propane tank has fewer long-term costs because you don't pay a rental fee. Hence, buying might be cheaper than renting or leasing one in the long run.

Refilling

When you buy a propane tank, chances are it won't come with a tank monitoring system. Hence, you are likely to run out of propane without knowing. Thus, your best option would be to invest in a tank-level monitoring system. But this added expense could run you a few hundred or thousand dollars. 

But if you rent a propane tank, it will come with a tank-level monitoring system. Furthermore, it is up to your propane supplier to monitor the propane levels and conduct refills when your tank is running low. 

Thus, as far as refilling goes, renting a propane tank is more convenient than buying one. 

Consumption Rates 

If you rent/lease a propane tank from a propane supply company, you must agree to their minimum consumption rate. A minimum consumption rate means you have to use up a predetermined amount of propane in any given month or year. Hence, you are not free to use your propane as you need because you must adhere to the minimum consumption rate. 

However, if you buy a propane tank, you can use as much or as little propane as you want. Hence, you don't need to use more propane than you need to meet a minimum consumption rate. Buying a propane tank can be more economical because you don't need to maintain a minimum consumption rate. 

For more information, visit a site like http://www.southallgas.com.