Leasing is an alternative to outright purchase in which a buyer can obtain the use of an asset without the upfront cost. Depending upon the type of lease, the buyer may ultimately acquire ownership of the goods. Leasing, rental and hire purchase are alternatives which may suit some buyers when funds are limited, when the parties have different tax rates, or when use of the asset is needed for a short period of time. See also Hire Purchase and Rental.

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Discover the world’s largest Glossary of Procurement terms

With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.