leasing and loaning

[Vikki89]

I keep seeing the word leasing and was wondering what is the difference betweeon leasing a horse and loaning a horse?

 

[SpottedCat]

Lease: You have the horse, pay all the bills and pay the owners a set fee each month/year for having said horse.

Loan: You have the horse and pay all the bills. You don't pay the owner anything.

 

[Vikki89]

Oh ok thanks, had never heard of leasing before.

 

[smellsofhorse]

me neither!