Hiring or buying shipping containers is a sizable investment, which is why it shouldn’t be taken lightly. Therefore, there are certain things you should consider in order to make sure that you make a sound decision. Read on to find out what essential points you should take into account when renting or buying shipping containers.
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Estimate whether you should buy or rent a shipping container
Before deciding whether to rent or buy a shipping container, it’s best to do some calculations in order to make sure you choose the most profitable option. If your budget doesn’t allow you to pay the full price of the container at once, consider different bank loans and credit options. You may also buy a used container, as they are more affordable. Then, compare these options to the monthly fee you’d pay for a rental and decide which choice is more favorable. Additionally, the time period you’ll need the container for is a crucial point to bear in mind. Buying is a more lucrative option when longer periods, such as one year, are in question. On the other hand, if you need a container for a few months, renting will suffice. Apart from return on investment (ROI), there are other important factors to consider, such as the type of container you’re looking for and whether you can manage the container by yourself.
Consider what type of shipping container is suitable for your needs
There are various different types of shipping containers, so you ought to opt for the one that is in line with your needs. In order to make sure that you pick the right container, it’s best to do a bit of research on the different kinds and what they are most suitable for. If you wish to buy a container rather than hire one, you generally have more options. The most common kinds include the high cube, and 20 and 40ft containers. They are suitable for dry cargo, such as cardboard boxes and barrels. For goods that require a constant temperature, like food and medicine, reefer containers should do.
Research the shipping container companies
Once you’ve decided on your requirements for a shipping container, it’s time to determine where to get one. It’s highly advisable that you do a bit of research into different companies that sell and rent containers, as this is a large investment. Rather than only visiting their websites, try to look for any unbiased information elsewhere. Online reviews can be very helpful, as you get to read about other people’s experiences with the company, as well as the product. If you’re looking to hire shipping container units, look for companies that offer the type that you require. For instance, the container company, CBOX, offers a range of different structures, from the classic shipping containers to offshore DNV containers of different dimensions. They also have new and used containers for purchase.
Carefully inspect the condition of the container
Upon the delivery of the shipping container, you should carefully inspect the shipping container to make sure it’s in good condition. If there are any cracks or rust, you should return it. Even if it was sent in perfect condition by the company, the container may get damaged during transportation. Thus, you should scrutinize every inch of the container from the outside, as well as the inside, to discover any potential damages. Additionally, ensure that the doors open and shut properly and that the locks work. In case you opted for a reefer container, check whether temperature controls are in order. Even if the container is a rental, or second-hand, it should be in optimal condition, so you ought to take your time to examine everything.
Find an insurance solution
Last but not least, you should also think about insurance when planning to buy or rent a shipping container, as your container could easily get damaged or lost. Although some container-renting and selling companies may offer insurance, in most cases, you’ll have to acquire insurance on your own. There are various types of shipping container insurance, so you need to assess which coverage would be the most beneficial for you.
All in all, as mentioned above, buying or hiring shipping containers takes a little contemplation. This involves making estimations to ensure a sufficient ROI, researching different kinds of shipping containers and companies, among other things.