You’re correct. They are the same. Loan may also apply.
However, depending on where you are, there are regional differences in where the terms get used. Locally, you rent an apartment but lease a warehouse (why?). Also, if you rent an apartment and turn over your lease agreement to another person, you are sub-letting the apartment. And “let” also means lease in this context. Err rent. Fuck, I’ve gone cross-eyed
No, boomers do still own most things.
We rent this mess now
We lease this mess now, for $0 down payment and 5.6% APR*
*For 3 years, then APR subject to change on the whims of the owner
Real talk, I honestly don’t get the point in leasing, or even how it’s different from renting. Sounds more like renting with a different name.
Typically, leasing is long term and renting is short term (contract length I mean)
You’re correct. They are the same. Loan may also apply.
However, depending on where you are, there are regional differences in where the terms get used. Locally, you rent an apartment but lease a warehouse (why?). Also, if you rent an apartment and turn over your lease agreement to another person, you are sub-letting the apartment. And “let” also means lease in this context. Err rent. Fuck, I’ve gone cross-eyed
Lease has a specific term, generally long. Rent implies short term or indefinite length.