Operational Leasing & Financial Leasing
Financial Leasing: This is purely a financial arrangement whereby the lessor provides finance to the lessee for the purpose of purchasing a car over an agreed period at the end of which the car is sold and the agreement terminates. Since the lessee is the owner of the car at the end; he is taking the risk of residual value and all the expenses like maintenance & repair that will occur during the lease period.
Operational Leasing : In operational leases the ownership is not transferred to the lessee neither during the rental period nor after the rental period. Lessee do not aim to have the ownership but aims to acquire the right to use a durable good for a certain period of time. When the leasing period expires, the lessor expects to receive his good back. All the risks of residual value and expenses like maintenance & repair belongs to the operational leasing company.
|Operational Leasing||Financial Leasing|
|When the leasing period expires, ownership is transferred to the lessee.|
|At the end of the leasing period the vehicle is handed over to the lessee with a symbolic price.|
|Leasing period is relative to the vehicles' economical life duration.|
|Current total value of the leasing payments are equal to or larger than the vehicles' value.|
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