Buy or Rent a Shipping Container: Which is Best?
The choice to buy or rent a shipping container is a personal one. This decision will depend heavily on your needs, budget, intended usage, and more. It can be tough making the choice, but we make it easy with the following tips.
When You Should Buy
1. Shipping Container Modifications
When you buy your shipping container outright, you are able to essentially do what you want with it. You can make any custom additions or modifications you choose to fit your unique needs. With a rental, you can’t do this.
2. More Options
Usually, you are limited in the sizes you can choose from when it comes to rentals. Sometimes only standard sizes are available, which is fine for the average customer. However, if you buy your container, you may have more variety when it comes to sizes, from custom to new to used.
3. Resale Value
With a purchase, you can decide to sell your container later on if it no longer serves your needs. Can’t do that with a rental. Shipping containers may cost more outright than rentals, but you own them and they make excellent investments. They stand up to the elements, last up to 30 years, and don’t require a lot of maintenance. Today’s shipping containers are popular options, as they can be used for new and trendy things, such as tiny homes, popup food stands and much more. If you go to sell your container, you are sure to get a good amount of money for it because these items are in demand.
4. Long-Term Costs
Buying is usually more cost efficient if you will need to use the container for a longer period of time. Over the long term, the cost of purchase makes more sense, as those monthly rental costs can add up quite quickly.
When You Should Rent
1. Short-Term Costs
If you only need a container for a short amount of time, such as a few months, renting is the better option and will save you more money in the end. Because you’re only charged for the time you are using it, it’s easier to budget for your container, with no recurring payments needed after the term is up.
Renting makes it easier to exchange or upgrade the container if you need to later on. Maybe you will find you need a bigger container than you first thought. If you are renting, you can simply exchange for a bigger size and the price will be adjusted accordingly. If you purchased your container and later decide to upgrade, you have to go through the hassle of selling it, then buying another one.
3. Transportation Fees
When you rent, transportation charges are often included in the rental fees, making it easier to switch locations.
Renting also means you don’t have to worry about maintenance, repairs or upkeep on the unit. You receive the unit in good condition and return it in the same condition. There are no ownership hassles to worry about.
Contact DRY BOX
We can give you advice on which option may be best for you. To get a free quote on the container of your choice, contact us at 866-549-9823.