Русско-англо-русский юридический словарь

A finance lease or capital lease is a type of lease. It is a commercial arrangement where:

• - the lessee (customer or borrower) will select an asset (equipment, vehicle, software);
• - the lessor (finance company) will purchase that asset;
• - the lessee will have use of that asset during the lease;
• - the lessee will pay a series of rentals or installments for the use of that asset;
• - the lessor will recover a large part or all of the cost of the asset plus earn interest from the rentals paid by the lessee;
• - the lessee has the option to acquire ownership of the asset (e.g. paying the last rental, or bargain option purchase price);

A finance lease or capital lease is a type of lease in which a finance company is typically the legal owner of the asset during the duration of the lease, while the lessee not just has operating control over the asset, but also has a substantial share of the economic risks and returns from the change in the valuation of the underlying asset. (Wikipedia)

Long term rental of personal property (for periods longer than a year) is known as leasing. Leasing is usually used for high-value capital equipment, both in business and by consumers (particularly for cars). A leasing agreement which transfers most of the risks and rewards of ownership, usually for the life of the asset, is known as a finance lease. A leasing agreement which is not a finance lease is known as an operating lease. (Wikipedia)