When to Buy or Rent a Shipping Container

There are plenty of reasons to buy or rent a shipping container, as these versatile containers have a tonne of great uses. For instance, they can be used for shipping/transportation, storage containers, shelters, small businesses, home offices, gyms, and any other situation where someone is in need of a large, durable and secure space.

Shipping containers are clearly very versatile, but what exactly is a shipping container? A shipping container is a durable space that can withstand some of the harshest conditions. Shipping containers are traditionally used to transport cargo, which means they’re built to hold up against during the shipping and handling process.

When you first think of a shipping container, you likely think of something that is used to transport goods – either on road, in the air or overseas. But these containers also make an ideal cost effective storage solution or a functional living space with the different types of containers available.

Regardless of what you’re using your shipping container for, you’re probably in the process of deciding whether you should buy or rent the shipping container. Some instances may be better suited for renting, while others may be better off buying a shipping container.

In this guide to buying and renting shipping containers, we’ll explore which type of container option will be the perfect solution for you.

Factors to consider when deciding to buy or rent a shipping container

There are various factors to consider when making the decision to either buy or rent your shipping container. When making this decision, be sure to consider each of the following:

• Length of time needed

Let’s start with the length of time needed. If your shipping container is for transportation or temporary storage, then you likely won’t need the container for very long. If this is the case, then shipping container rental is definitely the better option. On the other hand, if you plan to use your shipping container for multiple shipping situations, long-term storage or functional shelter, then buying a shipping container would be more cost-effective in the long run.

• Frequency of use

Now let’s look at frequency of use. Let’s say you need a shipping container to transport items over the course of the next five years. If you plan on using the container five times a year for five years, then it would definitely be more economical – and outright convenient – to buy a shipping container.

But if you only need the shipping container once a year for the next five years, then renting would be the better option. Essentially, if you plan on using your shipping container often, buy it. If not, rental will be the more economical option.

• Available storage space

Another factor to consider is available storage space. If you plan on using a shipping container for extra storage, look at how much storage space you already have and whether or not this will change in the future. If you think that you’ll need less storage space in the future, then rental would be the better solution. If this is a long-term storage situation, then we would definitely recommend checking out our quality containers for this purpose.

• Budget

Lastly, let’s talk about budget. Renting a shipping container will certainly be less expensive than outright buying one. But depending on how often you’ll use or need your shipping container, buying one could be more cost-effective in the long run. It all comes down to your unique situation and how you’ll be using your shipping container.

Advantages of buying a shipping container

Both renting and buying have their advantages. First let’s take a look at the advantages of buying a shipping container:

• Ownership of the shipping container – The main advantage of buying a shipping container is that you have outright ownership.
• No time limit – When you own the shipping container, you don’t have to worry about being restricted by a time limit.
• Creative freedom – Buying your shipping container means that you can do what you want with it. If you want to transform your shipping container into a gym, a she-shed, an office space, or any other functional space, you have the say-so to do that. You can also make any renovations you’d like.

Advantages of renting a shipping container

Renting a shipping container also has its own advantages. While you may not have the flexibility of ownership, there are other areas where renting can be even more flexible than buying a shipping container. The main advantages of renting a shipping container are:

• No upfront cost – Not having to pay an upfront cost can be a huge advantage of renting a shipping container. Especially for anyone who’s on a budget. Depending on your situation, renting can definitely be the most cost-effective option.
• Flexibility in terms of length of rental – Renting also offers flexibility on length of rental. Finding a trusted shipping container rental company will allow you to stay flexible with the rental period. You can choose to rent the container for as long or as short of a period of time as you’d like.
• No maintenance or repair responsibilities – One of the other great advantages of renting is that you don’t have to worry about maintenance or repair. Maintenance and repair needs will all be handled by the rental company. This can take away a lot of the stress that comes with handling a shipping container and can be a cheaper alternative to buying.

When to buy a shipping container

There are definitely instances when buying a shipping container will be the better option. This would be:

• If you have a long-term need for a shipping container – If you’re not restricted by a time limit or you need the container for a long time, then buying would be the best option. Buying also gives you modification options. Some common modifications include installing doors and access windows, lighting or ventilation if required. A lock box is also a good idea.
• If you have the budget and space to store a shipping container – If you’re not sure how long you’ll need the shipping container for and you have the budget and space to own the shipping container, you may want to consider buying. That way you won’t have to worry about paying more to extend your rental time. You’ll also have it on hand whenever you need.
• If you need the ability to customise a shipping container to fit your specific needs – If you’re not restricted by rental contracts that state you can’t make renovations, then you’ll definitely want to buy instead of renting. This would be the best option if you’re using the shipping container as shelter or another type of structure.

If any of these apply to you, then buying a shipping container may be the more sustainable option.

When to rent a shipping container

As an alternative to buying, renting a shipping container could be the more practical and cost-effective option. This would be:

• If you only need a shipping container for a short period of time – If you’re sure that you won’t need the shipping container for a long period of time, such as for a storage unit, then renting is definitely the better option.
• If you don’t have the budget or space to store a shipping container – Maybe you don’t have the budget to buy a shipping container upfront, if so renting would be the better solution. Also, if you need the shipping container off and on, but don’t have the space for it when you’re not using it, then you should look into renting.
• If you don’t need a shipping container on a regular basis – Depending on how often you plan on using the shipping container, renting could be more cost-effective than buying. Talk to a local shipping container provider to look at what would be the more cost-effective solution for your situation.

If any of these apply to you, then renting a shipping container is definitely your best bet.

Conclusion

Whether you choose to rent or buy, you can choose the shipping container type to suit your needs. A standard shipping container will work for most situations but a high-cube container or refrigerated container is also an option if you need more space or to store temperature sensitive items

Gateway can help you source the right option from a wide range of shipping containers for hire and sale, at competitive prices. You can choose from different types of shipping container or by size, for example, a 10ft, 20ft or 40 ft shipping container.

If you’re not sure what shipping container is right for you or whether to rent or buy, be sure to speak with our shipping container experts. Contact us today.