Lenders may also offer equipment leasing. Although there are some nuanced differences between equipment financing and equipment leasing, the main difference is that with an equipment loan you own the equipment at the end of your repayment period.
With equipment leasing, on the other hand, you have the option to purchase the equipment at the end of the term, or enter into a new lease for the equipment you need—similar to leasing a car.
Generally, equipment leasing is more expensive than equipment financing in the long run. Refer to our equipment leasing vs. financing guide to learn more about the differences between these options.