Should you rent or buy your shipping container?
A shipping container is a valuable investment that will pay in dividends for years. Let’s say that you run a construction company, and you’re looking for on-site storage. Ensure that your shipping container is able to withstand harsh weather conditions, built to last, and won't succumb to corrosion. What if you’re looking to build a shipping container home instead? It's important that you can modify it to your liking.
When considering buying shipping containers, you have several options. You can choose to rent for a recurring fee or buy a new or used one for a one-time cost. The great thing about these containers is that they retain their value (and sometimes go up in value). If you purchased a new container, you can resell it as a used one. You can even resell a used container if you bought it as such.
Not sure whether to buy or rent? Let this guide help you make your decision.
Scenario 1: Your Business Needs Extra Storage
Let’s say that you’re a small business or retail franchise owner with 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 and your goals. 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 a lot 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.
Scenario 2: You’re a Contractor or Subcontractor
If you're involved in the construction sector, it's likely you'll need some extra storage space every now and then. While it may be tempting to purchase a shipping container, this is actually more cost-effective in the long run and you can always sell it on to other contractors in your network.
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?
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.
Check out this delivery video below.
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.