Vehicle & Fuel
Vehicle held under an operating or financial lease as an alternative to purchase.
A leased vehicle is held under a fixed-term contract (24, 36, 48 months) with monthly payments and return or buy-out at the end. Operating lease: the lessor handles maintenance and insurance; finance lease: the user does. For corporate fleets, leasing smooths cash flow, outsources depreciation, and refreshes the fleet every cycle.