Gas and Oil Home Heating Furnaces - what is a fair price for removing and replacing oil tank in basement?

Hi, I have a pin hole leaking my oil tank and need to get it fixed/replaced. I was quoted $1700 to remove and replace a 330 gallon oil tank in my basement. Is this a fair price. I have a hatch to my basement so removal would be relatively easy. Also I noticed a couple of people selling oil tanks for $50 on craigslist. My installer said he would put it in if I buy it. Is this a good idea? it would save me about $450 but it wouldn't be guaranteed.

It also could cost a bit to get rid of the old tank legally, since it cannot be just be dumped somewhere at night.

It also could cost a bit to get rid of the old tank legally, since it cannot be just be dumped somewhere at night.

good point, I assumed that the price includes disposal of the oil tank. Wouldn't he mention if that was an extra charge?

That price sounds reasonable. You might want to ask how much more for a Roth tank.

That doesn't sound out of line to me.

That price sounds reasonable. You might want to ask how much more for a Roth tank.

thanks, what is the benefit of a Roth tank and how much more should it cost?

The Roth is rust proof because it is a plastic tank in a metal enclosure & carries $1million in clean up insurance should it leak. Usually they are not much more than a metal tank, maybe $100 or so.

thanks Grady, is there somewhere I can buy a Roth tank online and have my plumber install it or is this something they only sell to the trade. I notice that in doing a simple google search it's very hard to find pricing on oil tanks and the only ones I can find for sale are used on Craigslist. Do you think it's not worth the risk to install someone's used tank?

wow, I just called a plumbing supply store and the Roth was quoted at $1k and the Granby at $379. Are you sure it should only be $100 more?

Unless things have changed in the last year or so only registered Roth contractors can install a Roth tank. Getting registered to do so isn't really a big deal though.

Although the Roth is twice the price of the Granby (which is a good tank) one step in the installation process can be skipped over, that of pressurizing the tank and having the inspector witness it. That's worth a few bucks. It also eliminates any requirement for containment since that's part of the tank assembly. It also has a leak detector built in. Add to that the 10 year spill insurance and your narrowing the gap in true cost.

As far as a used tank? No way unless you can thoroughly inspect the interior bottom for signs of pitting or corrosion. Remember, most tanks corrode from the inside out.

I just checked one of my suppliers online catalog & find the Roth to actually be slightly cheaper, including the required installation kit, than the same size Granby steel tank. I must admit their price on the steel tank seemed awfully high.

I was mistaken about the amount of insurance on the Roth. It is $5 million, not the $1 million I previously stated.

The reason the Granby is so high is it is urethane coated to protect from EXTERNAL corrosion, has a 20 year warranty, & $2 million leak clean-up insurance. The catch is the external corrosion. As Heatpro pointed out, most tanks rust from the inside out NOT from the outside in.