Yes! In several ways leases are beneficial than buying things.
According to a recent survey three of the main reasons a company leases equipment rather than buying it are:
1. Leasing equipment protects companies against owning equipment that may become technologically obsolete—that risk is shifted to the lessor.
2. Often the company does not have to show the equipment and the debt financing it on its balance sheet. On their face, the financials of the company leasing the equipment look better than they otherwise would.
3. The company leasing the equipment cannot make use of the depreciation benefits.
A lease is a contract that lets a company (lessee) rent equipment for a specified period of time. The rent is paid periodically throughout the term of the lease—every month, or every 3, 6, or 12 months. The leasing company (lessor) owns the equipment. Lessors deduct the depreciation charges for the equipment from their income before calculating their taxes. Lessees receive part of the tax benefit of depreciation in the form of lower rent.