What are the most common payment options for a modular building?

Learn how to pay for your modular building. Lease, purchase, finance.
Matt Banes
Written by Matt Banes

Learn about ways to finance a modular building. Lease, lease purchase or purchase.

How do businesses and schools typically pay for a Modular Building or Portable Classroom?

The three most popular forms of paying for a modular building are a standard operating lease, lease purchase, or outright purchase.

Let’s assume that you know you need additional space for your organization and you don’t have the time for a conventional construction project. You’ve decided that a modular building will be the fastest method of solving your facility need but you haven’t decided how to finance the project. This is where the modular building industry makes things easy and budget-friendly.

Here are the most common forms of transactions in the modular building industry:

  1. Lease-to-Own: This option allows you to lease the modular building for a set period and then purchase it at the end of the lease term. This can be a good option if you are unsure about your long-term needs or want to spread out the cost of ownership over time. Most suppliers offer this option and are usually willing to negotiate the terms and conditions to meet your specific needs. You may also be able to amortize the one-time charges like delivery and installation into the monthly lease rate.

  2. Traditional Financing: This involves obtaining a loan from a bank or modular building finance company to purchase the modular building outright. You will typically need to provide proof of creditworthiness, a down payment, and pay interest on the loan. One-time charges can also be amortized into the loan to keep your out-of-pocket expenses low.

  3. Equipment Leasing: This involves leasing the modular building as a piece of equipment, similar to leasing a car or other machinery. This can be a good option if you need the building for a shorter period or want more flexibility in your financing options.

When considering financing options for a modular building, it is important to carefully review the terms and conditions of each option and determine which one best meets your needs and budget.

About the author

Matt Banes

Matt Banes

Call me directly and I will help you make the smartest decisions before you buy, rent or sell a modular building or portable classroom anywhere in the United States. (800) 806-7485.
Since 1988, I have helped thousands of businesses, public and private schools, and places of worship with decisions concerning planning, permitting, floor plan design and financing of temporary and permanent modular spaces. So, why wait? Call me directly at the Modular Building Help Line today!