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leasing is the most common way that businesses acquire equipment so 24 of the acquisitions of equipment in 2018 by businesses was done through leasing and the top 50 countries in terms of lease volume did 1.36 trillion dollars in leasing volume in 2019 and this was almost all with three continents north america europe and asia they really dominate the market when it comes to leasing volumes so the market for leasing is huge now what is a lease conceptually so heres a definition from ifrs 16. so the international financial reporting standards they define a lease as being present in a contract if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration so lets break that down you are not getting legal title to the asset youre not just buying a car and getting title to the car where you are the owner but you are getting the right to control the car lets say thats the item thats being leased for a period of time lets say five
