Should you rent or buy your shipping container?
A shipping container is a valuable investment in quality. Let’s say that you run a construction company, and you’re looking for on-site storage. You need to make sure that your shipping container is weatherproof, durable, and resistant to corrosion. And if you’re looking to build a shipping container home? You need to be able to customize it, so it’s habitable.
When you need a shipping container, you have a few options in paying for one. You can rent one at a monthly fee, purchase one at a flat rate, or finance one and pay a monthly fee.
After a period of time, your shipping container will still have value. If you’ve bought one new, you can sell it used. Even if you’ve bought it used, you can still resell it. That’s why shipping containers are so easy to rent. Companies like Conexwest sell high-quality inventory only. Our philosophy is that if a storage container has flaws, it shouldn’t be on a production line.
So, should you rent or buy? This simple guide can help you navigate the decision, based on your use case.
Scenario 1: Your Business Needs Extra Storage
Let’s say that you’re a small business or retail franchise owner, and you have extra inventory. A weatherproof shipping container is a great option for on-site storage. The decision of whether to rent or buy your container depends on your core business. How much do you expect your business to grow? How quickly does inventory move? How much space do you anticipate needing?
If you’re not sure how to answer these questions, your best bet is probably to rent your container on a monthly basis. This pricing model will give you enough flexibility to make upgrades, as needed.
If your storage needs are predictable, and you know your storage needs past the next 3 years, the better option is to buy. After 3 years, it becomes more expensive to rent than to own your shipping container.
Keep in mind too, that if you pay for a storage container that you aren’t using, you may end up losing money. Before making an investment—either renting or buying—plan as far as you can in advance. Aim to gain a predictable picture over your storage needs.
If you’re ready to make a purchase, Conexwest will offer a 25% discount on 20’ refurbished containers in January.
Scenario 2: You’re a Contractor or Subcontractor
If you do work in the construction industry, you probably have a consistent need for extra storage. It may be tempting to buy a shipping container. In the long-term, after all, owning is less expensive than buying. And you can always re-sell your shipping container to your network of fellow contractors.
But what happens to your shipping container when you’re in-between jobs? Or what if your job site needs something bigger or smaller than the units that you own?
This scenario can be tricky.
Buying your shipping container is the right option if you own land with storage space. You also need to be able to transport your shipping container with relative ease. Keep in mind, however, that the cost of storing your shipping container can add up.
For this reason, renting your shipping container may be the better option. When a job comes up, rent exactly what you need, for as many months or years as you need it. Bill the cost to the job. Leave shipping and transportation to your vendor.
Conexwest, for instance, has several options for delivery, depending on the container’s size. We deliver on tilt-beds, tilt-bed truck and trailers, flatbed trucks, side-lifter trucks, and crane-trunks.
You can see a preview of our delivery services, in this YouTube video, here:
Scenario 3: You Want to Build a Custom Project
If you’re looking to build a custom project such as a gym, pool, hot tub, or home office, you should plan to purchase your shipping container.