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A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
Leasing is similar to a rental contract, where you only use the equipment for the duration of the lease. Financing involves taking out a loan — in this case, secured by the equipment — and ...
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
Equipment loan. Equipment lease. Sale-leaseback. Your business owns the equipment as soon as the purchase is made. You don’t own the equipment until it is paid off and you agree to buy it fully.
Equipment loans often have a higher payment than an equipment lease but allow you to own the asset outright at the end of the loan term. For many business owners, buying equipment is an important ...
A retail lease is a legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years. Both the lessee and the lessor must uphold ...