When considering the use of shipping containers, one of the key decisions is whether to buy or Hire. Both options have their advantages and disadvantages, depending on your specific needs. This article will explore the pros and cons of buying versus renting a shipping container.
Pros and Cons of Buying a Shipping Container
Pros:
- Long-Term Investment: Ownership can be cost-effective for long-term use.
- Life Span: New Shipping containers will have a substantial life span, especially when maintenance and repair is applied. Usually at least 15 years when taking out of shipping circulation after their 1-trip from point of manufacture. Used Shipping containers, when purchased on a budget can still have a strong life span, with the correct container door repairs for example. This will give a good extension to life and continue to fulfill storage or customization requirements.
- Customization: You have full control over modifications and customisations. See our conversions on the link provided.
- Design Freedom: Shipping containers allow for huge amounts of flexibility when it comes to customisation and modifications. We at Century Containers like to think about this like 'A pair of scissors and a cereal box, but instead we use a welding gun'. This shows the simplicity of shipping container modification and to simply buy a shipping container and hire a team of experts can be a better option then traditional brick and mortar buildings.
- Resale Value: Potential to resell the container in the future
- Holds it own: The ability for a shipping container, modified or not, to hold its value is clear. Many will not drop in value after years of use, with market fluctuations taking place and global shipping taking major hits in recent years, many containers may even have increases in value if so at the right point.
Cons:
- Upfront Cost: Higher initial investment compared to renting.
- Layout: For many, the use of a shipping container is simply a short term storage solution, they may not wish to hold a container for an extended period of time. Many may also simply not have the availability of space over a long time period, with this in mind hiring is a worthwhile option.
- Maintenance: Responsibility for maintenance and repairs.
- No easy fix: Many don't have the tools to be able undertake the repairs, especially when it comes to welds and door repairs, fortunately (Que advertisement) we here at Century have the solution. Our comprehensive Shipping container repair scheme can maintain and/or bring your shipping container back to full working order.
Pros and Cons of Renting a Shipping Container (See here!)
Pros:
- Lower Initial Cost: Affordable option for short-term needs
- Budget Containers: For a quick solution or if you are working to a budget, a cheap shipping container hire may be the way forward.
- Flexibility: Easy to return or exchange as needed.
- Need it Yesterday?: Many may need a quick and easy solution for their shipping container storage needs. Rental containers can achieve this with quick turnaround times and availability.
- Maintenance: Rental companies typically handle maintenance.
- Easy Fix: Maintenance and repairs on shipping containers is needed to ensure longevity of the unit. We fulfill this service on all our offsite hire units as well as any other units in need of repairs. With a focus on container doors, as well as creating watertight container seals.
Cons:
- Long-Term Cost: Renting can be more expensive over long periods.
- Monthly/Weekly: The regularity of payments, especially on something which is not active or potentially not creating a return can become costly. Though, this can be countered by the points made above. Rental Shipping containers can often be out of sight out of mind and this can also lead to extended periods of hire.
- Limited Customization: Restrictions on modifications.
- No Mods: It is very unlikely that any hire shipping container company would allow you to make any sort of customisation or modifications, no matter how small as it undermines the container and can potentially remove its ISO certification.
Conclusion
Ultimately, Deciding whether to buy or rent a shipping container depends on your specific requirements and budget. If you need a container for a short-term project, renting might be the best option. However, for long-term use and customisation, purchasing a container could be more beneficial. Holding the value of the a container can be beneficial for a buyer and the use of professional maintenance and repair services can significantly help with this. Creating a higher resale value and longevity of the unit.
Contact us for expert advice and options tailored to your needs, Sales and Rental, Repair and Maintenance, we are here to help!
