Contract in which a lessor purchases new equipment from the manufacturer and leases it to the lessee.

1. A non-leveraged lease (i.e. a lease wherein equipment is acquired without use of any recourse debt; also known as a single-investor lease).

You identify the asset (and negotiate the price) and arrange for the leasing company to buy it from the manufacturer (if new) or the previous owner (if used) to rent it to you. (see also sale-and-leaseback)