Leasing and Hire Purchase. Discuss the difference between these two.

Leasing and hire purchase are two common methods of financing for acquiring assets, but they differ in terms of ownership, payment structure, and risk allocation.

In leasing, the lessee (the borrower) rents an asset from the lessor (the owner) for a specified period, usually in exchange for regular payments. The ownership of the asset remains with the lessor throughout ____ __________ __________ ________ ______ _____ ________ ______ _____ _____.
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