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Equipment lease agreements allow owners of personal property to temporarily let others use it for a fee. They can be structured in various ways, influenced by state regulations, but certain key considerations apply universally. These agreements are particularly beneficial for expensive equipment needed for specific short-term jobs, like a steamroller, where purchasing might be impractical. By using an equipment lease agreement, the lender can ensure proper care of the equipment while allowing the borrower to access it without the significant upfront costs of purchasing it outright.