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Lease for Dummies

verb

pronunciation: lis

What does Lease really mean?

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Hey there! Let's talk about the word "lease." Now, imagine you have a friend, let's call them Tim, and Tim really loves playing video games. But, Tim doesn't have the money to buy all the games they want. So, what can Tim do? Well, Tim can lease the games! Leasing is like borrowing or renting something for a specific period of time.

When you lease something, like a game or a car, you pay a certain amount of money to use it for a set amount of time. It's kind of like a long-term rental agreement. For example, let's say Tim wants to lease a video game for a month. They would pay a fee, maybe $10, to the game store and get the game to enjoy for that whole month. After the month is over, Tim would have to return the game to the store.

But what if Tim really fell in love with the game and wants to keep it? Well, in some cases, there might be an option to buy the game at the end of the lease. It's like when you borrow a book from the library - you have to return it eventually, but sometimes you can buy the book if you really want to keep it.

Now, sometimes people also lease other things, like cars or apartments. Imagine you want to drive a cool sports car, but you can't afford to buy one just yet. You can lease it! When you lease a car, you pay a monthly fee to use it for a certain number of months or years, just like renting it. However, remember that even though you're paying to use it, you don't actually own the car. It's like borrowing a friend's car for a while.

So, to sum it all up, a lease is an agreement to borrow or rent something for a specific time period by paying a fee. It's kind of like borrowing a book from the library or renting a game from a store. Whether it's games, cars, or even apartments, leasing allows us to enjoy something temporarily without the pressure of buying it outright. Cool, right?


Revised and Fact checked by Linda Miller on 2023-10-29 00:56:53

Lease In a sentece

Learn how to use Lease inside a sentece

  • When you rent a house or an apartment from someone for a specific period of time, you sign a lease. This means that you agree to live there and pay a certain amount of money every month.
  • If you want to start a business but don't have a building, you can lease one. This means that you can use the building for a certain time period by paying rent to the owner.
  • Sometimes people lease cars instead of buying them. This means that they can use the car for a few years by making monthly payments, but they don't actually own the car.
  • When a farmer wants to use someone else's land for farming, they can lease it. This means that the farmer can cultivate crops on that land for a specific period of time by paying rent to the landowner.
  • If you have a favorite clothing store and want to sell their clothes in your own small shop, you can lease a space inside their store. This means that you can use a certain area of their store to display and sell the clothes, and you pay rent to the store owner.