Are you on the hunt for a shipping container to rent or buy? Unsure which option is more suited for your needs? While buying a shipping container can be a great investment in some circumstances, there are also many benefits to opting to simply rent one too.
If you’re on the fence about whether to rent or buy, then this guide on the pros and cons of renting vs buying is for you! No matter what you intend to use it for, we’re here to help you make the right investment with your time and money.
Let’s get started.
Renting A Shipping Container
Renting has a lot to offer when it comes to shipping containers. Opting to rent means:
- You’ll have lower upfront costs and just a single monthly payment, making it the more cost-effective option in the short-term
- The flexibility to easily dispose of the container when you no longer need it and
- Better availability of containers at short notice as many companies rent rather than sell containers
Of course, renting rather than owning your container also comes with some drawbacks that may make this a less suitable option for you. When you rent you:
- Do not have the option to modify or customise your container as it must remain as is
- Can experience higher costs if renting in the long term compared with purchasing up-front
- May have to accept a container of lesser quality as rentals are often not well maintained
- Often have less choice of container types as companies offer less to choose from in rental stock
If you only intend to use a container in the short term, then the pros will likely well outweigh the cons of renting a shipping container. Keep in mind that rentals are best suited to those in need of short-term storage solutions or a secure transport option.
Buying A Shipping Container
If you need the option to change or modify the container or plan to have a container for a long period of time, then buying a shipping container outright can save you a lot of money in the long run.
The advantages of buying a shipping container include not only long-term cost savings but also:
- The freedom to completely modify and customise your container to suit your changing needs
- The potential to gain a higher resale value on modified containers for return on investment
- There are usually more options for sizes and types of containers than for renting
- There are no contract restrictions on where you can move it to, making it perfect for business owners who move around, like pop-up shops and cafes
- Flexibility to use it as you see fit, you can even rent it out when not in use
While there are several positives to owning a shipping container rather than renting one, of course, there are always potential downsides to consider too.
Before you commit to purchasing a shipping container, you should be sure to consider the following:
- Buying means a bigger cost upfront rather than small monthly payments
- As an owner, you are responsible for repairs and maintenance
- Large and heavy, moving your container around can be much more challenging than it would be for a rental company
- You may struggle to find a buyer when you’re ready to dispose of it, making this option less flexible
- If your needs change you will have to sell and buy again to get the right container. When renting you can simply arrange a swap to the right size and type
- As a depreciating asset, your container may not sell for as much as you paid for meaning you will lose money
Shipping Containers Brisbane – Experts In All Things Containers
Ultimately, the decision on whether to rent or buy a container is best made in consideration of your unique circumstances.
At Shipping Containers Brisbane, we have decades of experience in the container industry and can help you determine which option is right for your needs. We offer a wide range of containers for rent or sale and offer stress-free delivery Australia-wide.
No matter what you need from your container, we’re here to help make the process as easy as possible. To learn more, call our team today on (07) 3185 2170.