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For many business owners, storage and space is a consistent concern, whether it is for equipment storage or storage container offices. When you do start to consider shipping containers as a solution for your space issues, you then begin to wonder if you should buy a shipping container for sale or opt for a container rental.
What To Know When Buying or Renting A Shipping Container
When deciding whether buying or renting a shipping container is right for you, here are some factors and questions you can ask yourself to help make an informed decision:
1) How Much Time Will You Need the Container For?
Time needed plays a large role in the cost efficiency of renting or buying a shipping container. A shipping container rental is typically billed on a month-to-month basis, but with this comes a higher markup. On the contrary, buying a shipping container, even with the intention of selling it a few years down the line, could be more cost-effective than renting it month to month.
As mentioned above, choosing to buy a shipping container can be cost-effective even when not intending to keep it indefinitely. This is because shipping containers, especially when well-maintained, still retain their value over the years, meaning that you can sell it at a later date and any difference you make between the sale and the original shipping container price will likely amount to more in your pocket than if your monthly rental fees had added up over time.
2) Do You Need a Specific Shipping Container?
Shipping containers for rent are typically offered in a limited range of types and sizes. This means that if you are simply looking for a quick and short-term storage option for your business, you might be fine with a shipping container rental that is of a standard shipping container size.
On the other hand, shipping containers for sale offer more selection in terms of size and shipping container modifications. Some different options available in shipping containers for sale include:
- A range of sizes including but not limited to 10’, 20’, 40’ in length
- Roll-up doors, garage doors, man doors and windows
- Partitions, shelving and racking
- Paint and decals
- Custom sizes and configurations
3) What is Your Budget?
Sometimes the shipping container price can mean a bit of an initial investment, leading some business owners to choose to find a shipping container for rent, rather than a shipping container for sale.
That said, buying a shipping container can still be a reasonable option for your budget, as the longer you plan on renting it, the cost efficiency of buying comes into play.
Maintenance and repair costs are also an additional price consideration for those who are buying rather than renting. If you are placing your shipping container in a more high risk area, responsibility for damages may inhibit you from considering a container rental.
4) Do You Have Specific Modification Requirements?
If you don’t need any modifications to the shipping container based on what you intend to use it for, then a container rental will likely suffice for your needs. If, however, you want the shipping container to be modified to better adapt to your specific project needs, then you will likely need to purchase the container, as custom modifications are typically more readily available on shipping containers for sale.
Some typical reasons that business owners choose to modify a shipping container include safety and security, aesthetic and design needs, as well as increased functionality and interior configurations.
Overall, modifications needed are highly dependent on the type of container application that the shipping container is purchased for. Are you using the shipping container for an office? Job site equipment storage? A real estate showroom? The list goes on, and only you will know if modifications are something you might need, but taking the time to think this through will help you make the most cost-effective decision in the long run.
5) Not Sure What You Will Need in the Future?
If you rent a shipping container rather than choosing to buy one, then you have the easy option of upgrading if you need to in the future. This does prove to be helpful for those who are unsure of what they will need later on in the project, especially if the container is needed for more than a month.
Choosing the Right Shipping Container
Wondering how much a shipping container costs and if you should consider buying a shipping container or obtaining a container rental? Our team will evaluate your quote request and help you narrow down the container that is best suited for you.
Conterm can help you choose between renting or buying a container. We sell and rent containers, with or without modifications, in the greater Montreal area as well as in Sherbrooke and Quebec City.
Contact us for more information about our container solutions and help us find the right fit for you.