what is a fair price for removing and replacing oil tank in basement?

[joeban]

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.

[Concretemasonry]

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

[joeban]

Originally Posted by Concretemasonry

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?

[Grady]

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

[pfd27]

That doesn't sound out of line to me.

[joeban]

Originally Posted by Grady

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?

[Grady]

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.

[joeban]

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?

[joeban]

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?

[heatpro]

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.

[Grady]

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.