Rent to own shipping containers – All you need to know
Storage containers find extensive utility across the globe, serving diverse needs related to storage. The cost-effectiveness and customization options available make these containers ideal for both residential and domestic customers. Now, you might have come across the term ‘rent to own’ in the context of a storage container. This can be a suitable and cost-effective preference for you in case you are comfortable with a monthly payment structure, and eventually want to own the container.
At Land Containers, we can help you with the right solution in this regard. If you are not aware of how the rent-to-own process works, here’s a brief guide for you.
How much does rent to own cost?
How much does rent to own cost?Rent to own happens to be a viable payment process for storage containers. The mechanism is similar to financing a car. In the first place, customers need to select a dealer for storage containers, who would be ready to rent them to you. In return, you need to shell out a monthly cost over an agreed period of time. Once you have paid off the specified amount for the container, you would be its owner.
Therefore, rent to own serves as a cost-effective alternative to own a container, if you are financially not ready to make an instant purchase. Besides, this process of ownership is quite popular for customers who would be willing to use the container over the years. Rather than renting, rent to own would be a better alternative as you would ultimately be owning the container. Once you completely own the container, you can resell it and get the money back, if needed. All throughout this process, you would get the opportunity to use the container.
What costs should you consider?
What costs should you consider?When you decide to rent to own a container, you need to factor in different expenses. Apart from the monthly installments, you need to shell out a few upfront costs as well. This payment structure depends on the policies that the dealer has set, and the structure of your contract.
Below are some of the costs that you should be knowing before going for these deals.
- Down payment: With some dealers, you may have to make a down payment for the container. However, this might be optional with other dealers. With a sizable down payment, you can own the container a little earlier.
- Security deposit: Some dealers require customers to make a security deposit when they rent to buy a container. This largely pivots on your credit profile. In case you don’t want to pay a security deposit, look for other dealers.
- Rental payment: Regardless of the company you go for, you need to fork out a monthly rental payment. This is similar to the amount that you shell out when you rent the container. However, you should keep your eyes open to the length of the contract, as this directly decides the monthly premium. The monthly installments would be higher if you go for a shorter contract. Take care that the monthly cost and contract durations suit your budget.
Apart from this, you need to consider the delivery expenses and interest rates. Reach out to Land Containers at +1 (210) 245-7729 for a profitable deal. You might also convey your needs to us through this online form.
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