The customer who uses the asset and makes lease payments.
For example, a dental clinic signs a 5-year equipment lease as the lessee, agreeing to pay $1,800 per month for a dental chair and imaging unit. The lessee is responsible for insurance and maintenance but does not own the equipment until the lease ends or a purchase option is exercised.
Why it matters: They gain the use of an asset without the massive upfront cost, preserving capital for higher-return investments.
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