Meaning of leasing/lease. What is leasing/lease ? Definition of leasing/lease.

Lease/Leasing can be defined as a right to use an equipment or capital goods on payment of the periodical amount.

Suppose you use someone's equipment or capital goods and pay amount periodically for using such equipment or capital goods, then this is known as lease/leasing.

This may broadly be equated to an installment credit being extended to the person using the asset by the owner of capital goods with small variation.