In our area of Texas, one of the things we offer which has made a real difference is our “Rent-To-Own” container program. We have discovered this plan isn’t for everyone but has helped over 40% of our container customers make full use of these versatile boxes which they might not be able to afford otherwise. For the best price overall, it’s still better to buy a container outright. However, if you only have a fixed amount to devote to a container, have a place to put it on your site, and/or want to spread your purchase over a few months or years, this can help. This page contains some points you need to know regarding how the program works and why it may, or may not, be for you.
The basics of the program are these. It lasts up to 36 months though you can pay it off or cancel it at anytime after the first 30 days. The best time to pay the box off is the first 90 days as there is a 90-days same-as-cash option. This means there is no interest or upsell involved other than the agreed rent-to-own price of the container and local sales tax (currently 7.75%) unless you are tax exempt. The payoff amount and the monthly payment are calculated based on the “Rent-to-Own Price” of the container which is more expensive than purchasing the container without this agreement. The two different prices, depending on whether you purchase outright or rent-to-own, will be explained at time of sale prior to signing anything. We aren’t in the business of bait and switch but there are some unique pricing considerations that you will want to make sure you understand.
After 90-days things change in terms of payoff. You will still have the same monthly minimum payment based on the rent-to-own price. If you go to 36 months the agreement ends and you are given the container having effectively paid double the rent-to-own price as your total. To pay it off after 90-days but before 36-months means you pay 80% of that new doubled total minus any monthly payments applied. If you are close to 90-days and have a good payment history but didn’t quite make it, we can work with you to complete the agreement if necessary so don’t be detoured if it takes you slightly longer than 90-days and you don’t want to pay it out over the total life of the agreement.
This program has an initial “setup fee” which generally includes delivery, enough cross-ties to set the container on, generation of the rent-to-own program agreement, any sales tax due unless exempt, and any options you purchase with the container such as painting, doors, locks or windows. A full list of our potential options is here but we typically don’t do any major conversion on a rent-to-own container. This setup amount must be paid prior to the container leaving the yard or any options being added.
The process begins by selecting your container and any options you want with it. Next, we sign a rent-to-own contract together which is like other equipment rental agreements you may have signed. The agreement includes a basic, straightforward main agreement and several attachments for various purposes. These range from an arbitration agreement if we can’t settle moneys owed, to delivery, option and recurring payment agreements. There is a landlord’s consent in case you rent your property, and you can choose either auto-draft payments or access to our “Bill and Pay” online system to track your payment history and take care of monthly rent. Finally, we schedule delivery and show up with your new container and some cross-ties to set it on. From there your regular payments can be made in person at our Cleveland Office (for credit card payments) or at either office for cash, over the phone, via automatic draft from yoru bank account or credit card, or through our Bill & Pay system mentioned above. The latter lets you se your payment history at any time. However, you must call or come in if you wish to know your payoff amount with any payments applied.
Failure to Pay Your Bill
At Green Trailer, we think this GreenSpace Rent-to-Own program is something pretty special placing shipping containers in the hands of those who need or quickly discover their value. This was especially true during the recent Hurricane Harvey record-setting floods where trillions of gallons of water descended on Houston and Southeast Texas and people needed to store their stuff securely and in a dry space. With that said, we are a small business too who is trying to make it in a competitive area for container sales and to provide for our team. So, we count on the regular payments of those in the Rent-to-Own program. We also know things come up in life that weren’t planned, so we try to give a few days leigh way occasionally if it’s needed and you have a history of paying us on time otherwise.
That said, there are those who still seek to abuse the system and put businesses like ours at the bottom of their priority list below things which really don’t matter. So, we have a series of steps we go through to ensure we are either paid what is owed or action is taken to retrieve the container. The part sometimes missed is that if you find yourself unable to continue paying for one of our containers, simply make sure your account is current and cancel the Agreement by talking to us. If you are current we will come and get the container, emptied of course, and you will be eligible to use this program again in the future with no record to affect your credit with us or anyone else. However, if you owe money at time of pickup you are still liable for it and we will continue to pursue you until it’s recovered up to and including the involvement of the local law enforcement or judicial systems. Actions like this against you DO go on your credit record as well as your criminal record so please don’t put yourself in this position. Take care of us and we will make every effort to take care of you, our loyal and trustworthy customers.
Things to Know
Here are some things you need to be aware of in no order:
- There is no credit check to be a part of this program
- Unless you have an agricultural exemption or a “Texas Sales & Use Tax Exemption Form” completed as to why you/your company should not pay sales tax, you will be charged our rate of 7.75% Texas State Sales Tax. It’s not our rules and not our cost.
- The first 90 days are the best price you will receive for these containers. After that it goes up dramatically going to the “final price” which is double the rent-to-own price minus payments made. For the first year, and with your good payment history with us, the increase is not as bad as it sounds. After that it goes to 80% of the doubled total minus any payments. We said this wasn’t for everyone after all.
- Our “service area” where the rent to own program applies is roughly a 40-mile radius from either of our offices. Since we still own the container until it’s paid off, we still have control of it.
- While we’re at it, moving the container from the location listed in the agreement for any reason without our knowledge or consent until paid off is a violation of the Agreement and we can/will take legal or punitive action as necessary.
- Major renovation on the container without our knowledge or consent while the Agreement is in effect is also a violation of the Agreement and could be subject to action or cancelation of the contract.
- We make every effort to ensure the containers we place in the rent-to-own program are in good shape and don’t leak. If we somehow miss something within the first few months we will work with you to fix it. Beyond that, every agreement has its reasonable limits so please work with us to select a container in good condition and not one which will give all of us problems, including you.
We hope this answers all of your questions. However, sometimes new items come up so keep checking this page for updates. If there is anything else that you have questions about, just ask. We are here to help and will try our best to address any concerns or questions you have before, during, and after rental purchase.
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