Overview
Leasing and hire-purchase are financial arrangements whereby the lessee gains user's rights to a high-value asset by paying a fixed periodic charge in installments, without a lump-sum payment. The difference between leasing and hire-purchase is the rights to the asset. Upon completion of a leasing contract, ownership of the asset will belong to the leasing company with the lessee's option to purchase the asset, while ownership is immediately transferred to the lessee when the hire-purchase contract reaches maturity.
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