History of Leasing

Leasing is not a new phenomenon. The knights of the crusades in the 10th century were known to have paid for their armour by installments, and such methods of payments have been traced back to the ancient Summarians.

Leasing in its modern style has developed over the past 50 years to provide a method of amortising the capital value of any asset over its expected life span. Traditionally this was for high value assets such as buildings, ships, and aircraft, but increasingly smaller values have been coming into the leasing range, such as vehicles and equipment

The real explosion in popularity occurred when businesses could offset the expense of leasing against taxable profit, which gave rise to the growth in 'company cars' - as the employee had a car - the employer had a deductible asset - a marriage in heaven