Leasing is a form of financing involving a contract between a lessor (person or organization that owns the property/vehicle/machine, etc.) and a lessee (person or organization renting the property/vehicle/machine, etc.). The lessor will provide the property/vehicle/machine, etc. to the lessee for a fee, usually referred to as a lease charge. The lessee then makes regular payments to the lessor to cover the cost of the property/vehicle/machine, etc., in addition to other fees such as taxes, insurance, and maintenance. Leasing is an alternative to traditional methods of financing such as purchasing with a loan or credit line.
