Short Term Rentals some will define as less than one year, rental period & Long Term Rentals greater than one year. Most of these are financed but the assets belong to the dealer & their balance sheets but offer the dealer flexibility to exchange equipment during agreement term. If equipment is leased, the asset belongs to the finance company and all the terms, conditions are tied to a specific s/n number unit(s) for the duration of the agreed upon finance period. Just like financing a car to own or lease.