When you find yourself in need of a shipping container, you may wonder if you would be best off buying or renting one. There are pros and cons to each, but today let’s take a look at why renting may be a better option for you.
Here are some benefits of renting that you may want to consider in Grand Rapids.
Short or One-Time Events
If you plan to hold a temporary, one-time, or a seasonal event, it’s better to rent a shipping container. This will help you maintain cash flow, keep your monthly costs low, minimize your liability, and lower your taxes.
Supplement Owned Assets
While building or buying a customized container would make sense if you need a structure for a long period of time, you may only need one for the short-term to supplement your existing assets. Such a container could fulfill those temporary needs and fill in as needed. Plus, even with rented containers, you can choose from optional add-ons that serve your needs the best.
Convenience and Ease of Use
It’s much easier to rent a container than buy one, in terms of the process. With rentals, you can swap out the units as needed for different sizes. Rentals are generally faster to set up because you don’t have to create a solid foundation. It can be tough to assess the size and space requirements you will need over the long haul.
Renting a container, and changing sizes as you grow, is much easier than taking a guess and buying a container of a certain size only to find out you needed something much bigger.
Cost Efficiency
If you’re on a tight budget, renting is often the better option, even if you need it for the long term, so that you don’t tie up valuable cash. Even if you were to buy a used shipping container, there would still be a large initial investment compared with simply renting one. As a home owner or small business owner, this large one-time capital outlay can be challenging or even crippling.
To preserve cash flow and save your credit, rent a container at a low monthly rate. You can always buy one later when you have more cash.
No Maintenance, Liability, or Disposal
If you purchase a shipping container outright, this is considered a fixed asset. This means you have to store it properly, maintain it, and dispose of it later on when it’s no longer needed.
Yes, shipping containers have long lifespans and don’t require that much maintenance, but they may appear to be dated and weathered sooner rather than later due to exposure to the elements.
If you’re renting the unit, you can swap it out for a newer one for a better image. In terms of liability, your container rental company is the one liable for any damage that may occur to the container and its contents while on its grounds. If the container is on your own property, you can purchase vandalism protection insurance at a low cost.
Contact Any Way You Want It
Still not sure if renting is the best option? Just ask us! Call our team today for your free quote on shipping containers of all sizes, whether for rent or purchase, in Virginia, Grand Rapids, or Ellendale MN.
