purchase fee = device list price – lease payments made – remaining discounts or trade-in credits.
If you're paying $1368 over 24 months, you could pay the remaining $632 after those 24 months and keep it with 0% interest.
Is that leasing or renting in your country?
Is that leasing or renting in your country?
Is the difference between renting and leasing even meaningful? You chose a car rental agency for your example because it costs more per month to rent from a short-term rental agency. What is a lease but a long term loan? What difference does it make that I rent my apartment by signing a document called a "lease agreement"? Am I a renter? Or a leaser?
Renting/leasing is not automatically bad. The terms are what make one a good or a bad deal.
> Is the difference between renting and leasing even meaningful?
Where I live, yes. If you lease you are the owner, with the financing company having the ability to seize it when you don't pay. If you rent you are not the owner, but are allowed to use it. Renting is a bit plebeian.